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MLP SE

Investor Presentation • Jan 19, 2011

289_ip_2011-01-19_22c8d377-ecc2-4f5c-b0a5-fb9f080042ff.pdf

Investor Presentation

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MLP - Company presentation Uwe Schroeder-Wildberg, CEO Cheuvreux German Corporate Conference 2011

January 19, 2011

Agenda

  • •Outlook
  • • Growth drivers
  • •Old-age provision
  • •Health insurance
  • •Wealth management
  • •Client potential
  • •Earnings situation
  • •Summary
  • •Appendix

Outlook 2012: Increase in EBIT margin to 15%

MLP Group

EBIT margin

Medium-term outlook

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  • • Despite difficult market conditions, stable revenue expected in old-age provision in 2010, return to growth from 2011
  • • Increase in revenue expected in health insurance and wealth management

Agenda

  • •Outlook
  • • Growth drivers
  • •Old-age provision
  • •Health insurance
  • •Wealth management
  • •Client potential
  • •Earnings situation
  • •Summary
  • •Appendix

Pressure on social security systems is imminent

Massive increase in the "dependency ratio" for the period 2010 - 2035

Old-age provision market is expected to grow

Money invested in old-age provision products in Germany

[in € trillion]

  • •Includes single premium business
  • • Includes occupational pension business

Source: Allianz, Handelsblatt (September 1, 2010)

Development of revenue old-age provision

YTD 2010

[in € million]

9M 2009

9M 2010

Q3 2009 Q3 2010

New record high in AuM

Assets under Management

[in € billion]

Extensive new client potential at the universities

University graduates in Germany

[in thsd.]

Sources: Institut für Wirtschaft in Cologne, Federal Statistics Agency, BCG

Top ratings in consulting tests

  • 1st place in the old-age pension provision assessment by WirtschaftsWoche (05/2009)
  • 2nd place and top rating in the client assessment of MLP consulting by WhoFinance (05/2010)
  • 2nd place in the mortgage test carried out by the magazine Euro (07/2010)
  • 1st place as the best wealth manager in Germany Survey conducted by the investors' magazine Börse Online and the WHU – Otto BeisheimSchool of Management (07/2010)

Increasing client base

Number of clients

Agenda

  • •Outlook
  • • Growth drivers
  • •Old-age provision
  • •Health insurance
  • •Wealth management
  • •Client potential
  • •Earnings situation
  • •Summary
  • •Appendix

Cost savings well on track

Development of fixed costs in 9M 2010

Earnings situation improved significantly

EBIT

Agenda

  • •Outlook
  • • Growth drivers
  • •Old-age provision
  • •Health insurance
  • •Wealth management
  • •Client potential
  • •Earnings situation
  • •Summary
  • •Appendix

Summary

  • •Overall business development in Q3 was satisfactory
  • •Positive revenue trend from Q2 continued
  • •Earnings situation improved significantly
  • •Cost savings well on track
  • • Positive momentum in health insurance and wealth management will continue
  • •Difficult market conditions in old-age provision will continue
  • • Guidance reiterated:
  • yPlanned fixed costs to decrease by € 10m in 2010
  • yTargeted EBIT margin 2012: 15%

Agenda

  • •Outlook
  • • Growth drivers
  • •Old-age provision
  • •Health insurance
  • •Wealth management
  • •Client potential
  • •Earnings situation
  • •Summary

•Appendix

Highlights 9M and Q3 2009

  • •Q3: Positive revenue trend from Q2 continued
  • •Favourable market conditions for health insurance business
  • •Old-age provision market still challenging
  • •9M: Revenue commissions and fees increased by 2.6%
  • •Successful cost savings
  • •Earnings situation improved significantly
  • •AuM again reached a new record high

9M: Revenue from commissions and fees increased by 2.6%

Total revenue

[in € million]

Q3: Positive revenue trend from Q2 continued

Total revenue

[in € million]

Health insurance and wealth management showed significant increase

Revenue: commissions and fees

[in € million]

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*excluding MLP Hyp

Business mix more balanced

Revenue: commissions and fees, 9M 2010: € 313.4 m

Earnings situation improved significantly

Continuing operations

Income statement

[in € million]

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  • •9M: EBIT rose by 45%
  • •9M: Net profit nearly tripled
  • • Q3: EBIT margin improved to 7.5%

Strong balance sheet

MLP Group – selected balance sheet items

[in € million]

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•Liquid funds € 197m

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Top cross-selling rate

Development - contracts per client

Cross-selling rate

[Contracts per client]

Market share of recurring premiums fell only slightly

Market share – old-age pension provision

Market share - recurring premiums*

[in %]

Source: GDV (German Insurance Association), own calculations / * preliminary market figures

Further increase in market share

Market share - wealth management

Assets under Management in accordance with the BVI methodolog y

Source: German Association of Investment and Asset Management (BVI), own calculations

Growth of market share in private health insurance

Market share – private health insurance

MLP share of fully insured individuals

[in %]

Source: German Association of Private Health Insurers, own calculations / * market figures for H2 2009 are not available yet

Stable shareholder structure

Overview of shareholders

Manfred Lautenschläger Angelika Lautenschläger Swiss LifeHDI/Talanx AGBarmeniaAllianz SEHarris AssociatesBerenberg Bank Axa S.A.Uberior Ena Ltd. (HBOS) Others[in %] 23.386.039.909.89 6.676.270.734.844.725.1027.47

Independent business model and one-stop for lifetime financial solutions

Independent business model is unique in the German Market

MLP – a broad-based consulting house

Contact

MLP Investor RelationsAlte Heerstr. 4069168 WieslochGermany

  • Helmut Achatz, Head of Investor Relations
  • Ines Löffler, Manager Investor Relations

Tel.: +49 (0) 6222 308 8320 Fax: +49 (0) 6222 308 1131

[email protected] www.mlp-ag.com

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