© lloyds 1 © lloyds 1 international markets key activities – march 2014 >
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© Lloyd’s 1
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© Lloyd’s 1
International MarketsKey Activities – March 2014
> www.lloyds.com/internationalmarkets
© Lloyd’s 2Source: : McKinsey Global Institute, Urban World: The shifting global business landscape, October 2013; ‘Big Business’ defined by McKinsey as a business with revenues exceeding US$ 1bn
GLOBAL CONTEXT >Geographic Shifts1
Now:
►8,000 ‘big businesses’ exceeding $1bn revenue
►$57trn in combined revenue (equivalent to 90% global GDP)
►73% in developed world
In 2025:
►15,000 exceeding $1bn revenue
►$130trn in combined revenue
►45% in developing world
Location of Fortune 500
‘Big Businesses’: (McKinsey)
© Lloyd’s 3Source: Insurance Intelligence Centre analysis commissioned by Lloyd’s International Markets; Target Economies: Top 10 Developed and Top 10 Developing Markets selected as per PWC largest economies forecast in 2030, Developed / Developing classification as per IMF
GLOBAL CONTEXT >Forecast1
© Lloyd’s 4Source: Market Intelligence based on: www.lloyds.com/comparecountries
GLOBAL CONTEXT >Key Examples1
CORE TAKEAWAYS
1.Centre of economic gravity is shifting
2.Moving beyond the BRICs to include the N11 and other “Growth Markets”
3.There remains vast catch up potential for per capita wealth
Sources: Market Intelligence based on: Compare Countries; www.lloyds.com/comparecountries
Size of Bubble represents the size of the population by 2016(Gross Domestic Product by country)
© Lloyd’s 5Source: Lloyd’s, http://www.lloyds.com/Lloyds/Invstor-Relations
GLOBAL CONTEXT >Lloyd’s Premium 1
Europe (including UK)
33%
Other Americas
8%
Central Asia & Asia Pacific
13%Rest of
the World
5%
US (including Canada)
41%
US & Canada
44% 2011
43% 2010
45% 2009
44% 2008
12% 2011
10% 2010
9 % 2009
8% 2008
Other Americas
8% 2011
7% 2010
6% 2009
6% 2008
Europe + UK
16% + 18% = 34% 2011
16% + 20% = 36% 2010
16% + 20% = 36% 2009
16% + 22% = 38% 2008Sources: Lloyd’s Annual Reports (2007 – 2012): http://www.lloyds.com/Lloyds/Investor-Relations
© Lloyd’s 6Source: As per Lloyd’s website, www.lloyds.com
GLOBAL CONTEXT >Office Network 1
1 1
1
11
4
4
4
3
3
3
3
2
4Local underwriting with co-located syndicates(or via a Lloyd’s regulated entity); Country Manager with Market Development Role
Europe
3 Country Manager with Market Development Role
2 Legal Representative for regulatory requirements
1 Legal Representative for minimum regulatory requirements
Type Market Development Scope Territories
Austria, Denmark, Norway, Portugal, LithuaniaArgentina, Belize, Chile
Namibia, Zimbabwe, US Virgin Islands
Cyprus, Greece, Israel, Malta,
New Zealand, India
South Africa,
Australia, Hong Kong (SAR)Benelux, France, Germany, Ireland, Italy, Poland, Spain, Sweden, Switzerland
Brazil
ChinaJapanSingapore
North America
www.lloyds.com/AMERICA
UK
Canada, US Northeast, US Southeast, US Central & US West
2
1
1
1
1
2
22
2
33
3 3
3
3
33
Eur ope
3
© Lloyd’s 7Source: As per Lloyd’s website, www.lloyds.com/crystal
GLOBAL CONTEXT >Licence Network 1
Cross border reinsurance; Onshore insurance/reinsurance
Cross border/onshore insurance/reinsurance
Cross border/onshore reinsurance
Cross border reinsurance
US Cross border/onshore reinsurance and surplus lines insurance
© Lloyd’s 8Source: As per Lloyd’s website, www.lloyds.com
WHO WE ARE >Senior Management2
Tom BoltDirector
Sean McGovernDirector
North America, General Counsel and Risk Management
Luke SavageDirector
John NelsonChairman
Inga BealeCEO
Vincent Vandendael Director
© Lloyd’s 9Source: As per Lloyd’s website, www.lloyds.com
WHO WE ARE >International Markets2
Market Intelligence
Natalie Armitage (Graduate)
Chris BrownTom GraceLara Green
Robert ShearmanFilip Wuebbeler
Market Development & Operations
David BendorKiran Bhovan
Michael Lampard Phil McCarthy
Stephen MooreEd Pennock
Kaan Yardimci
Marco Castro
Susan BakerDavid Charles-Jones
Sarah HintonGeraldine Moynihan
Ann O'DonnellAnne Rannie
Nigel Williamson
Hank WatkinsBenno ReischelCameron Murray Kent Chaplin Eric Gao Iain Ferguson
BRAZIL NORTH AMERICAEUROPEINDIA, MIDDLE EAST &
AFRICA (IMEA) + UK & IRELAND
ASIA PACIFIC CHINA JAPAN
VINCENT VANDENDAELStrategy & Operations
Daniel RevillaWahida Begum (Executive Assistant)
Regional Desks
Gabriel Anguiano(Latin America)
John Threshie(Asia)
Endrit Kumbaro
Relationship ManagementBob Stevenson
Anita Wallace (Co-ordinator)
© Lloyd’s 10Source: As per Lloyd’s website, www.lloyds.com
PRIORITY WORK STREAM ACTION
MARKET INTELLIGENCE Share syndicate data Gather syndicate appetite Cedant / broker profiles Emerging market MI Compare Countries enhancements
MARKET ACCESS
Licences Life licences - agreed LMAMarket questionnaire & MI pack
Distribution Coverholder streamlining Action plan top 4 brokers Tailored services mid tier brokers
Subscription Facilitate consortia development Explain benefits of co-location
MARKET SUPPORT
Tailored Services Tailored services managing agents
Education & Promotion
Global Development Centre (previously referred to as Lloyd’s Broker Academy)
Global communications strategy
WHAT WE DO >Six Priorities3
© Lloyd’s 11Source: As per Lloyd’s website, www.lloyds.com
WHAT WE DO >London Teams3
TEAM KEY ACTIVITIES
MARKET DEVELOPMENT & OPERATIONS
Lead IM London market engagement Lead or support regional development Lead marketing & educational distribution initiatives Support international events planning & execution Lead country, regional & directorate planning Support existing office operations Lead new office opening / office closure Lead problem case management
MARKET INTELLIGENCE Lead Market Intelligence product development(Compare Countries, Country Profiles, Market Presentations, Class Review & Country Roundups)
Cultivate internal & external interest groups for market intelligence
REGIONAL DESKS Mexico & Latin America - quarterly trips to the country to meet key stakeholders- hosts an annual event/workshop and presentations- hosts a market day/presentation and receive inwards visits
Asia - Market development support for Lloyd’s platforms and Country Managers in Asia- support LJI and LICCL business placement & product development in London - relationship management with MAs and London brokers- co-ordinate inwards visits/presentations in London- relationship management with London reps of Asian companies
© Lloyd’s 12Source: As per Lloyd’s website, www.lloyds.com
WHAT WE DO >Market Intelligence3
The Market Intelligence team provides analysis of the world’s insurance industry to help the market develop their business internationally.
> www.lloyds.com/marketintelligence
© Lloyd’s 13Source: As per Lloyd’s website, www.lloyds.com
WHAT WE DO – Regional Desks
Mexico & Latin America - quarterly trips to the country to meet key stakeholders- hosts an annual event/workshop and presentations at industry events in the country- hosts a market day/presentation and receive inwards visits/presentations in London
Asia - Market development support for Lloyd’s platforms and Country Managers in Asia- support LJI and LICCL business placement & product development in London- relationship management with MAs and London brokers- co-ordinate inwards visits/presentations in London- relationship management with London offices of Asian companies
3
© Lloyd’s 14Source: As per Lloyd’s website, www.lloyds.com
HOW WE DO IT? >Who we work with4
LMA - Board, Market Development Strategy Group, Country Working Groups, Class of Business Panels & day to day liaison LIIBA – Board, Executive Committees, day to day liaison
CEO Survey – Annual indication of market appetite (agent & broker CEOs)
Agent & broker liaison – London team, regional & country managers meeting with agent and broker directors, underwriters and brokers
Market Comms – Presentations & briefings, Interaction, Focus magazine, country brochures and driving traffic to Lloyds.com
Associations, market groups, agents & brokers
© Lloyd’s 15
DisclaimerThis document is intended for general information purposes only. Whilst all care has been taken to ensure the accuracy of the information Lloyd's does not accept any responsibility for any errors or omissions. Lloyd's does not accept any responsibility or liability for any loss to any person acting or refraining from action as a result of, but not limited to, any statement, fact, figure, expression of opinion or belief obtained in this document.
© Lloyd’s