Bank of Ireland 2020 Debt Investor Presentation
Wealth & Insurance business provides Group
with unique platform to grow income
Bank of Ireland 2020 Debt Investor Presentation
38%
of Group
Business
Income
c.€33bn
Ireland Retail
Personal
Balances
(15% y/y increase
in potential AUM)
35%
Bank channel
penetration
(+3% y/y)
€19.8bn
AUM
(+3% y/y)
•
Unique proposition as Ireland's only universal bancassurer
Market leading positions in life and pensions and savings
In-house product manufacturing and distribution platforms
Business model captures all economic value accruing from
self-manufactured wealth and insurance product life cycles
• Scale of business
-
-
-
Ireland's largest bancassurer and leading life and pensions
company; >600k customers, including >250k wealth customers
Embedded value €902m; +7% since 2018
Operating profit grew 11% per annum, 2017-2019, pre-COVID-19
Harnessing digital and in-house product manufacturing capabilities
Group Pensions
MyPension365; launched in 2020,
c.€3bn of back book pension schemes to
begin migrating in 2021
Key offering to grow share of estimated
c. €160bn DC and DB Irish pension
market
Full E2E digitisation and automation;
90% reduction in on-boarding times
.
.
•
Digitally enabled platforms
Digital advice platform; 45% of wealth
transactions through direct or digital
channels
Digital Insurance Wallet; now
generates 38% of general insurance
policies, including 59% of motor policies
Additional insurance partners being
added to increase choice
.
•
Ireland's only universal bancassurer
Broad suite of in-house propositions to
meet growing need for ESG and de-
risking solutions for pensions
Multi-product opportunities with
mortgage and SME customers via further
penetration (+c.12% since 2018 to 35%)
Using lower risk propositions (€0.5bn
AUM flows 2020) amid negative rate
environment and increased savings
Bank of Ireland
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