Investor Presentaiton
Impact to KPIs
P&C combined ratio
P&C profitability
NBV
a.s.r.
Not commented
Future profitability to be
determined by
combination of CSM and
risk adjustment release
► Not commented
Admiral Group PLC
No longer reported net of
all reinsurance
No impact on ultimate
profitability of business
written
Not commented
Ageas
►Deterioration by ~1.5pp
due to movement to
gross while improvement
by 2.5pp due to
discounting of all new
claims
►Positive impact of
discounting of new
claims partially off-set by
lower investment result
Not commented
Allianz
Expected to be similar or
lower level due to
discounting
► (-93%-94% vs. ~94%)
► Operating profit
expected to be on similar
level
►Higher than SII
►Includes IFRS9 contracts
and is net of tax,
reinsurance and NAE
NBV margin and APE
Not commented
Not commented
Not commented
Not commented
Aviva
Calculated net of
reinsurance
Limited financial impact
IFRS 17 value-added will
be key metric = IFRS 17
operating profit + change
in CSM. IFRS 17 NB more
aligned to Solvency II
VNB
Not commented
23
Market updates on impact of IFRS 17 and IFRS 9
EYView entire presentation