allianz global corporate & specialty se agcs: your …...estimated renewable energy share of...

Chris van Gend

Munich, 02 November 2017

Allianz Global Corporate & Specialty SE

AGCS:YOUR PARTNER IN A CHANGING ENERGY LANDSCAPE

Copyright © 2017 Allianz Global Corporate & Specialty SE (All rights reserved)File name | department | author

6-Nov-17 2

01 AGCS AT A GLANCE 04 RANGE OF PRODUCTS AND SERVICES FROM AGCS

02 WORLD ENERGY SUPPLY AND GROWTH OF RENEWABLES 05 EXTENSIVE UNDERWRITING AND

CLAIMS EXPERIENCE

03 INDIVIDUAL RISKS AND REQUIREMENTS 06 WHY AGCS?

CONTENTS


6-Nov-17 3

AS AGCS WE ARE PART OF ALLIANZ …

All figures as per 31 December 2016, Rankings insurance business based on revenues; Asset management based on assets under management; Sources: Company reports, Allianz internal peer review

A company with over

140,000employees

Trusted partner for more than

86 millioncustomers

Among the top 3Property and Casualty insurers globally

Among the top 5asset managers globally

Europe’s largest insurer based on market value

In business for

over 125 years

Global leader in travelinsurance, assistanceservices, andcredit insurance

Gold rated in the Dow Jones Sustainability Index

Among the top 5 in the Life/Health business globally

Present in

over 70 countries


6-Nov-17 4

ALLIANZ GLOBAL CORPORATE & SPECIALTY

• Full range of products and services covering corporate and specialty insurance worldwide

• Allianz Global Corporate & Specialty (AGCS) teams in 31 key countries

• A combined Allianz and partner network in more than 210 countries and territories worldwide

• Global team of almost 5000 employees of over 72 nationalities with more than 680 claims experts and 300 risk engineers worldwide

• Diversified risk portfolio and capital efficiency offers stability and long term consistency

• Provides insurance for more than three quarters of the Fortune Global 500 companies and large specialty clients

• Managing 2.500+ lead programs with approximately 19.000 local policies attached

• Market leading capacity – to handle the largest risks • Consistently strong ratings: AA (‘Very Strong’) from

Standard & Poor’s, A+ (‘Superior’) from A.M. Best1

Our vision“To be the leading global provider of corporate & specialty risk solutions, meeting clients’ individual needs with our employees’ unequalled industry expertise and knowledge.”

1. AGCS SE and AGCS North America, correct as at May 2016 btw. August 2016


6-Nov-17 5

ALLIANZ GLOBAL CORPORATE & SPECIALTYESTABLISHED FINANCIAL SECURITY THROUGH DIVERSITY

AGCS has been a consistent success story for the first ten years of its existence

• Total combined gross premium 2016 (incl. ART): €7.6Bn• Significant underwriting capacity for large corporate risks worldwide• A diversified business portfolio – both by segment and geography

Gross written premiums 2016 by business line Gross written premiums 2016 by region (excl. ART)

13%

17%

8%

7%2%16%

8%

2%

13%

14%PropertyARTEngineeringAviationEnergyLiabilityFinancial LinesEntertainmentMid CorpMarine

5%

14%

2%

14%

42%

22%

1% Asia

London

South America

Mediterranean

North America

Central & EasternEuropeAfrica


6-Nov-17 6

THE POWER INDUSTRY TODAY?ESTIMATED RENEWABLE ENERGY SHARE OF GLOBAL ELECTRICITY PRODUCTION, END-2016

Source: REN21 Renewables 2017 Global Status Report; IEA PVPS

Non-renewable electricity

75.5%

Renewable electricity

24.5%

Hydropower16.6%

Wind power 4.0%

Bio-power 2.0%

Solar PV 1.5%

Ocean, CSP and geothermal power 0.4%


6-Nov-17 7

SOLAR PV POWERSOLAR PV GLOBAL CAPACITY AND ANNUAL ADDITIONS, 2006-2016

Source: REN21 Renewables 2017 Global Status Report; IEA PVPS

6 8 16 2340

70

99

137

177

228

+1,4 +2,5 +6,6 +8 +17+30

+29

+38

+40

+51

+75

0

50

100

150

200

250

300

350

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Total Global Capacity Previous Year's Cpacity Annual Additions

Gigawatts

303 Gigawatts

World Total


6-Nov-17 8

WIND POWERWIND POWER CAPACITY AND ANNUAL ADDITIONS, 2006-2016

Source: REN21 Renewables 2017 Global Status Report

7494

121159

198238

283319

370

433

+15+20

+27+38

+39+41

+45+36

+52

+64

+55

0

100

200

300

400

500

600

2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Total Global Capacity Previous Year's Cpacity Annual Additions

Gigawatts

487 Gigawatts

World Total


6-Nov-17 9

KEY TOPICS – AN INSURERS’ VIEW

Always Technology! But with far reaching

consequences

Energy storage and theneed to keep up with

generation advancement

Political environment

Maintenance cycles pushing out

Major Utilities – changingcompetitive landscape

Offshore – deeper waters,floating risks, increasing

repair costs

Ageing grids and the needto adapt to more flexible

requirements – Smart Grids

Rapidly reducing costs and the impact on asset life


6-Nov-17 10

INDIVIDUAL RISKS REQUIRE INDIVIDUAL INSURANCE SOLUTIONS

Transport accident

Error during assembly

Operator or operating error

Damage to third party (personal & property)

Transport/Assembly/Operation

Natural perils

Loss/damage by third parties (e.g., theft)

Fire

Lack of Sun/Wind

External risks

Planning/Construction

Design and Manufacturing

Product or Material

Production/TechnicalErrors

Product Guarantees

Weather risks

Transit &Delay in Start Up

Operational& Business Interruption

Erection & Advance Loss of Profit´s

Operational, product and environment

liability

Personal injury,

property damage and financial loss


6-Nov-17 11

• Plausibility checks for technical constructions (incl. prototypes)• Recommendations for risk improvements & damage prevention concepts (technical risk management)• Supervision of acceptance tests (PAC/FAC)• Consultation and certification of Condition Monitoring Systems (CMS)• Checking maintenance concepts• Analysing operating performance as well as loss analyses (RCAs), etc.

AGCS – YOUR PARTNER ACROSS ALL PROJECT STAGESAGCS UNDERWRITES RENEWABLE ENERGY BUSINESS ACROSS ALL PROJECT STAGES – AND HAS BEEN DOING SO ALL OVER THE WORLD FOR MANY YEARS.

Development

• Professional Indemnity for architects and engineers

Transit

• Transit insurance

• Transit Delay in Start Up

Operation

• Operational All Risk

• Business interruption

• Environmental Liability

• Public and Products Liability

• Lack of Sun/Wind1

Construction

• Erection/Construction All Risk

• Advance Loss of Profit

• Third Party Liability

Consultant and risk management services across all project stages

1. Solution via Allianz Risk Transfer


6-Nov-17 12

OUR SERVICE PROMISERENEWABLE TEAM OF SPECIALISTS ACROSS ALL DIVISIONS AND FUNCTIONS – ALL IN-HOUSE

Underwriting• Global team• Many years of experience• Sustainable underwriting process – well-balanced risk portfolio• Consistent insurance solutions across the globe thanks to the

international Allianz network

Claims• Own global network of claims handlers and experts• Claims experts with different areas of expertise, e.g.,

electronic/mechanical, experts for various components such as groundwork or substructures, turbines, transformers

• Claims processing tailored to suit the needs of customers

Operations• A global, specialized team• Experience in handling global programs• Customer-centric documentation and settlement• Rapid response times• Captive handling expertise

Risk consulting• Technical service for completion of risk management• Bespoke risk control programs • Technical risk reports• Technical claims investigations performed by the Allianz Centre

for Technology (AZT)• Risk dialogue with experts to discuss lessons learned, risk

management, risk modelling, etc.


6-Nov-17 13

EXTENSIVE EXPERIENCE IN CLAIMS MANAGEMENTAGCS BOASTS AN IMPRESSIVE TRACK RECORD IN PROVING ITS IMPRESSIVE EXPERTISE IN HANDLING COMPLEX RENEWABLE ENERGY-RELATED CLAIMS IN RECENT YEARS, ALL OVER THE WORLD

Hydropower, BrazilDamage to hydropower plants as a result of insurrection

Wind onshore, USAFire damage

Photovoltaics, UK Contingent business interruption losses

Wind onshore, ItalyCable sleeve defects

Wind offshore, MediterraneanCable loss

Photovoltaics, CanadaDamage caused by frost

Solar thermal energy, South AfricaDamage caused by storm

Wind onshore, GermanySheet breakage caused by storms

Wind offshore, North Sea Short circuit on transformers

Wind onshore, UruguayFire damage

Biomass, GermanyBoiler damage

Wind onshore, ThailandGear box damage

Solar thermal energy, SpainError during assembly

Solar thermal energy, USManufacturer faults


6-Nov-17 14

AGCS – YOUR PARTNER FOR RENEWABLE ENERGY

• Many years of underwriting experience worldwide in renewables • Single point of entry for a broad range of solutions for onshore wind and solar PV• Leading capacity in the individual lines of business• Renewable team of specialists across all divisions and functions

– All functions (Underwriting, Operation, Risk Consulting, Claims) in-house– Best Practice Sharing global and covering all functions

• Allianz offices in 160 countries enable international insurance cover concepts to be put together for each individual risk and specific individual customer requirements

• Many years of experience handling major claims and possessing its own, worldwide network of damage experts with cross-border coordination and fast response time

• Range of consulting services also independent of insurance transfer, e.g., risk control programme and cause-of-damage analysis

• Tailored ART solutions • Other risk management solutions (e.g., bid and performance bonds) through Euler

Hermes


6-Nov-17 15

THANK YOU

allianz global corporate & specialty se agcs: your …...estimated renewable energy share of...

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