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TRANSCRIPT
Annual Motor
Insurance Seminar
Tuesday 18 November 2014
Conrad Hotel, Dublin
Gearing up for
the future
Glenn Gillard
Partner, Head of Insurance
3
4
5
Nov
2013
Apr
2014 July
2015 Sept
2014
Nov
2014
New penalty
Points
Periodic Payment
Orders
New Reserving
Requirements
Severity
Frequency Spending
power
Cost
Volumes
Periodical Payment Orders
Deloitte Motor Insurance Seminar 2014 8
I
Source: Motor insurance seminar 2014 survey results
UK Registration survey results - Issues
Periodical Payment Orders
Deloitte Motor Insurance Seminar 2014 9
I
Source: Motor insurance seminar 2014 survey results
UK Registration survey results - Issues
10
Rob McGowan
Senior Manager, Deloitte UK
Periodic Payment Orders
Periodical Payment Orders The Background
Deloitte Motor Insurance Seminar 2014 12
• Common since 2008
Followed from Courts Act 2003 implemented in 2005
• Serious injuries
• Cost of Care
• Paid until death
Regular payments
• ASHE 6115
Indexed
• Also other liability
Mainly motor insurers
0
5
10
15
20
25
30
35
40
Q1 2003 Q1 2004 Q1 2005 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012
Nu
mb
er
of
PP
O S
ett
lem
en
ts
Quarter
Periodical Payment Orders The Past – Quarterly PPO Settlements
Deloitte Motor Insurance Seminar 2014 13
Source: PPO Working Party – GIRO Report 2013, January 2014
Periodical Payment Orders The Future – Our Base Scenario Assumptions
Deloitte Motor Insurance Seminar 2014 14
Parameter Assumption
Number of Settlements 84 p.a.
Claimant Age
Male to Female Ratio 2 to 1
Annual Payment (£000’s)
Lump Sum (£m)
Annuity Frequency Quarterly
Base Mortality Table Ogden 7th Edition
Mortality Loading
Future Inflation 3.50%
Nominal Discount Rate 3.50%
Periodical Payment Orders The Future – Our Base Scenario – Reserves as at 2024
Deloitte Motor Insurance Seminar 2014 15
£ M
illio
ns
Age of Claimant (as at 2024)
0
5
10
15
20
25
30
35
0 20 40 60 80 100 120
Gross discounted settled PPO reserves by Claimant Age
Source: Deloitte Analytics
0
2
4
6
8
10
12
14
16
2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039
Gross discounted settled PPO reserves
£ B
illio
ns
Periodical Payment Orders The Future – Our Base Scenario
Deloitte Motor Insurance Seminar 2014 16
Financial Year
Source: Deloitte Analytics
Periodical Payment Orders The Future – Some Alternatives
Deloitte Motor Insurance Seminar 2014 17
Parameter Base Scenario Scenario 2 Scenario 3 Scenario 4 Scenario 5
Number of
Settlements 84 p.a.
48 p.a (2017)
Claimant Age
Male to Female Ratio 2 to 1
Annual Payment
(£000’s)
Lump Sum (£m)
Annuity Frequency Quarterly
Base Mortality Table Ogden 7th Edition
Mortality Loading 300% 500%
Future Inflation 3.50% 4.50%
Nominal Discount
Rate 3.50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
2013
Base Scenario 300% Mortality Loading 500% Mortality Loading
4.5% future inflation 48 settlements p.a. (2017)
Periodical Payment Orders The Future – Some Alternatives
Deloitte Motor Insurance Seminar 2014 18
Dif
fere
nc
e in
Re
se
rve
s c
om
pa
red
to B
as
e S
ce
na
rio
(%
)
Year
2020 2030 2040
Source: Deloitte Analytics
Periodical Payment Orders The Future – New Complexities
Deloitte Motor Insurance Seminar 2014 19
Patchwork Quilt
100%
It used to be simple
Indexation
Indexation
IndexationCapitalisation
Clauses
Capitalisation
Clauses
Capitalisation
Clauses
Periodical Payment Orders The Future – New Complexities
Deloitte Motor Insurance Seminar 2014 20
Solvency II
Government
Intervention
Capitalisation
Clauses
Indexation
Indexation
Capitalisation
Clauses
Ogden
Discount
Rate
Impaired
Annuity
Market
Crashless
Society
Capitalisation
Clauses
Indexation
Payment in
Kind
Economic
Markets
21
Eimear McCarthy
Partner, Insurance
Talent in Insurance
Lead and develop
Leaders at all levels: Close the gap
between hype and readiness
Corporate learning redefined:
Prepare for a revolution
Performance management is broken:
Replace “rank and yank” with
coaching and development
The quest for workforce capability:
Create a global skills supply chain
Transform and reinvent
The reskilled HR team: Transform HR
professionals into skilled business
consultants
Talent analytics in practice: Go from
talking to delivering on big data
Race to the cloud: Integrate talent, HR,
and business technologies
The global and local HR function:
Balance scale and agility
Attract and engage
Talent acquisition revisited: Deploy
new approaches for the new
battlefield
Beyond retention: Build passion and
purpose
From diversity to inclusion: Move
from compliance to diversity as a
business strategy
The overwhelmed employee:
Simplify the work environment
This year’s 12 critical human capital trends are organised into
three broad themes
The 12 Key Human Capital Trends
24
49%
Somewhat Ready = 50%
62%
Important = 66.6%
Importance
Readiness
Irish Results
By 2025, Millennials will account for 75% of the global workforce
We want organisations to develop our leadership
skills early in our careers
We want to work for organisations that foster innovative thinking
We want to make a positive contribution to society and work for organisations that
care about tackling bigger issues (e.g. climate change)
Millenials have different employer expectations….
Move beyond retention
Build passion and purpose in the workforce
The (un)popularity of insurance
Addressing the perception of a career in insurance
Globally, insurance is ranked 18th out of 30
industry sectors for business students
Insurers are battling with the fast moving
consumer goods, software and computer
services
Despite importance of insurance in society
graduates know relatively little about insurers
Dispelling the image of the “men in grey suits”
The sector has a boring and old-fashioned image that
attracts students who are comfortable with it. Insurers must
change their image…
27
Changing the perception of insurance
Is the industry attracting the right people?
Individuals who
may become the
insurance leaders
of tomorrow do not
appear to have the
right mindset…”
Goals and attributes of the Insurance-inclined…
• Security, stability and job security
• Willingness to trade off work-life balance
• Remuneration and advancement opportunities rate highly
for insurance (and business) students
• Survey found “innovation” is less attractive to insurance
inclined students
• Do not display an inclination for creativity
• Lack of desire for international travel
29
Changing the perception of insurance
Action is needed to make sure insurance companies are
attracting and retaining the right students
Insurers must work
together, with
industry bodies and
universities, as
appropriate to
promote insurance
as a career…and
correct the
misperception that
it (insurance) is dull
and unexciting
Promoting Insurance As a Career –
Steps to addressing the problems
1. Raise the profile of insurance
2. Build insurers campus presence
3. Attract more women
4. Attract students with the right mind-set
5. Modernise development programmes
6. Market international opportunities
Thought Leadership
Our detailed reports:
Cormac Hennessy
Senior Manager, Insurance Analytics
Statistical review
Data Sources • INCA, Risk Intelligence Ireland • An Garda Síochána Traffic Statistics • Central Statistics Office (CSO) • Department of Transport, Tourism and Sport • RSA Road Collision Factbook 2012 with provisional updates to certain tables for 2013 • Responses to on-line survey issued with invitation • "On the day" interactive survey responses from seminar attendees
• Data is derived from Forms 2 (net) and 8 (gross) where appropriate.• All data used is on a calender year (accounting) basis as per forms.• Market share is based on Net Written Premiums.• Adjustments are made to some companies data (Zurich & RSA). • Claims Ratio = Cost of Claims Incurred / Earned Premium Income• Expense Ratio = Management Expenses / NWP• Commission Ratio = Commissions / NWP• Combined Operating Ratio (COR) = Claims Ratio + Expense Ratio + Commission Ratio • Underwriting Result = Total Income - Total Outgoing• Insurance Result = Underwriting Result + Investment Income
Definitions
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
0K
500K
1000K
1500K
2000K
2500K
3000K
3500K
4000K
+Premium Income
Market Premium Year of Date1999 to 2013
LOBTreaty Reinsurance
Credit and Suretyship
Marine Aviation Transit
Other Classes
Accident and Health
Liability
Fire and Property
Motor
Date
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
-0.06
-0.04
-0.02
0.00
0.02
0.04
0.06
0.08
0.10
0.12
0.14
Value 4.3% 3.9%
4.4% 4.6%
4.5% 4.4%
4.5%
4.7%
6.4%
12.0%
13.9%14.6% 14.7%
13.1%
3.7% 3.7%2.9%
1.9% 2.1%
3.6% 4.6%4.0%
-4.6%
-0.9%
2.5%
1.7%
0.5%0.02%
-1.89%
-0.53%
0.47%
-0.69%
5.31%
5.85%
2.98%
4.63%
5.70% 5.47%4.90%
-2.69%
-6.39%
-0.30%
2.79%
-0.30%
0.18%
Economic Year of Date2000 to 2013
Measure NamesGDP Growth Rate
Average Weekly Earnin..
Inflation Rate
Unemployment Rate
Date
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
0%
20%
40%
60%
80%
100%
120%
COR
120%
115%
104%100%
115%
110%
101%
111%
116%
91%
84%81% 82% 82%
11%
10%
10%
10%
11%
12%
11% 12%
12%
12%
79%
13%
12%13%
12%
11%
11%
10%
13%14% 14% 16%
18%
18%
20%
21%
27%
23%
99%95%
83%
71%
61%56% 57% 55%
70%
85%78%
66%72%
8%
Market COR Year of Date1999 to 2013
Measure NamesCommission Ratio
Expense Ratio
Claims Ratio
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
-400K
-200K
0K
200K
400K
600K
800K
1000K
1200K
Result on Technical Account
-400K
-200K
0K
200K
400K
600K
800K
1000K
1200K
Underwriting Profit/Loss
Market Results Year of Date1999 to 2013
Measure NamesResult on Technical Acc..
Underwriting Profit/Loss
Date
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% of Total +Premium Income ADJUSTED
10%
10%
10%
11%
10% 11% 14%
11%12%
10% 11% 13% 11% 10%
10%
17%
10% 10% 10%11%
12%13%
11% 11%
11%10% 11% 13%
10%
12%
15%
18%
19% 18%12%
14%
23% 23%17%
22% 20% 19% 21% 20% 19%
10%
15% 15% 15% 16% 14%
17% 20%23% 20%
19%17% 11% 11%
10%
11%
10%11%
11% 12%
15% 14%
15%13%
12% 10%10% 10%
5% 4% 5%9% 9%
3%3% 3%
3%
3% 3%4% 6%4%
5% 6%8%
8%
3%
8% 7%7%8% 9%
9%
8%8%
8% 8%
9%6%
7%
8% 8%
9%
7% 6%
9%9%
9%9% 9% 9%
9%8%
8%8% 9%
80%
Market Share Stacked Year of Date1999 to 2013
Insurer (group)Others
Travelers
I P B
AIG
Liberty \ Quinn
Zurich
Allianz
AXA Insurance
FBD
RSA Insurance
Aviva
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
0%
5%
10%
15%
20%
% of Total +Premium Income ADJUSTED
Market Share Year of Date1999 to 2013
Insurer (group)AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
Others
RSA Insurance
Travelers
Zurich
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
0K
200K
400K
600K
800K
1000K
1200K
1400K
1600K
1800K
+Premium Income ADJUSTED
LoB Premium Year of Date1999 to 2013
2007 2008 2009 2010 2011 2012 2013Year of Date
0K
500K
1000K
1500K
2000K
2500K
Total
2,441,564 2,434,822
2,467,6602,497,576
2,403,223
2,425,1562,482,557
Vehicle Volume
Date (CPI)
2007 2008 2009 2010 2011 2012 2013
€0
€100
€200
€300
€400
€500
€600
Average Premium
0
10
20
30
40
50
60
70
80
90
100
Avg. Motor Insurance Consumer Price Index (Base Dec 2011=100)
€535€535
€610
€441
€558
€476 €475
94.1091.10
95.20
82.20
102.40
96.90
87.70
Ave Premium Measure NamesAverage Premium
Avg. Motor Insurance C..
Date
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
% of Total +Premium Income ADJUSTED
90.00%
LoB Share Stacked Year of Date1999 to 2013
Insurer (group)Others
I P B
Travelers
AIG
Zurich
Allianz
Liberty \ Quinn
FBD
RSA Insurance
Aviva
AXA Insurance
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
0%
5%
10%
15%
20%
25%
% of Total +Premium Income ADJUSTED
LoB Share Year of Date1999 to 2013
Insurer (group)AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
RSA Insurance
Travelers
Zurich
Others
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
0K
200K
400K
600K
800K
1000K
1200K
1400K
1600K
=Cost of Claims Incurred
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
110%
Claims Ratio
110%
75%
74% 73%
85%87%
70%
87%
56%58%
98%
66%
64%
94%
LoB Claims Cost Year of Date1999 to 2013
Measure Names=Cost of Claims Incurred
Claims Ratio
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
0K
200K
400K
600K
800K
1000K
1200K
1400K
1600K
=Cost of Claims Incurred ADJUSTED
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
110%
Claims Ratio (ADJUSTED)
110%
75%
74%73%
80%
69%
98%
67%
66%
56%
87% 87%
64%
58%
LoB Claims Cost Adjusted Year of Date1999 to 2013
Measure Names=Cost of Claims Incurre..
Claims Ratio (ADJUSTE..
2007 2008 2009 2010 2011 2012 2013Year of Origin
€0
€1,000
€2,000
€3,000
€4,000
Current ACPC
-10%
0%
10%
20%
30%
% Difference in Initial ACPC
€0
€1,000
€2,000
€3,000
€4,000
Initial ACPC
€4,685
€4,045
€3,151
€3,113
€3,052€3,009
€4,321
€3,505€3,452
€4,321€3,844
€3,908
€2,993 €2,996
2%
28%
0%-2%
11%
-13%
Severity Year of Origin2006 to 2013
CompanyAIG
Allianz Corporate Ireland
Aviva Insurance
AXA Insurance
FBD
Liberty Insurance Limited
Quinn Insurance (under ..
RSA Insurance
Zurich
Zurich Ireland
Measure NamesCurrent ACPC
Initial ACPC
% Difference in Initial A..
2007 2008 2009 2010 2011 2012 2013Year of Origin
0.0%
5.0%
10.0%
Frequency
-1.0%
-0.5%
0.0%
0.5%
Difference in Frequency
11.5%11.8%
12.8%
9.7%10.2%
12.5%
9.9%
-0.3%-0.3%
0.7%
-1.3%
0.3%
-1.3%
Frequency Year of Origin2006 to 2013
CompanyAIG
Allianz Corporate Ireland
Aviva Insurance
AXA Insurance
FBD
Liberty Insurance Limited
Quinn Insurance (under ..
RSA Insurance
Zurich
Zurich Ireland
Year of Date
2007 2008 2009 2010 2011 2012 2013
0K
100K
200K
300K
400K
500K
Count
Traffic Offence Stats Year of Date2007 to 2013
OffenceOther
Road Transport
Dangerous Driving
DWI
Seat Belt
Vehicles Detained
Mobile
Speeding
Source: Garda Traffic Statistics
Year
2011 2012 2013
0K
100K
200K
300K
400K
500K
600K
700K
800K
900K
1000K
Count
10%
11%
10%
10%
71%72%
74%
6%
6%
5%
9%
8%
Penalty Point Reasons Offence Type (group)DUI
Use vehicle without NCT..
No insurance - (user)
Seat Belt
Driving
Driving a vehicle while h..
Speeding
Source: Road Safety Authority
County
1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00%11.00% 12.00%13.00%14.00%15.00% 16.00%17.00%18.00% 19.00%20.00%21.00%22.00% 23.00%24.00%25.00%% of Drivers with Penalty Points
KILDARE
CLARE
WICKLOW
LONGFORD
MEATH
LIMERICK
ROSCOMMON
KILKENNY
WESTMEATH
DUBLIN
LEITRIM
CARLOW
SLIGO
WATERFORD
LOUTH
WEXFORD
LAOIS
CORK
OFFALY
CAVAN
TIPPERARY
GALWAY
KERRY
MAYO
MONAGHAN
DONEGAL
23.6%
23.6%
23.4%
22.3%
21.8%
21.5%
21.0%
20.6%
20.5%
19.9%
19.8%
19.7%
19.1%
18.9%
18.6%
18.4%
18.0%
18.0%
17.9%
17.9%
17.8%
17.0%
16.0%
14.4%
14.2%
13.4% Average
% of Drivers with Points
County
0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 0.55 0.60 0.65 0.70 0.75 0.80 0.85 0.90 0.95Points per Driver
KILDARE
WICKLOW
CLARE
KILKENNY
MEATH
LONGFORD
WEXFORD
DUBLIN
LIMERICK
ROSCOMMON
SLIGO
CARLOW
WATERFORD
WESTMEATH
LEITRIM
LAOIS
CAVAN
LOUTH
OFFALY
TIPPERARY
CORK
GALWAY
KERRY
MONAGHAN
MAYO
DONEGAL
0.75
0.75
0.65
0.65
0.89
0.58
0.49
0.48
0.83
0.77
0.73
0.66
0.90
0.80
0.70
0.70
0.50
0.74
0.74
0.74
0.64
0.62
0.62
0.52
0.81
0.71
Average
Ave Points per Licence
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
0%
50%
100%
150%
200%
250%
300%
350%
400%
Reserve to Claim Paid Ratio
309%
191%
279%
419%
271%271% 268%
349%
260% 256%
396%
396%
395%
250%
Claims Reserve to Paid Ratio Year of Date1999 to 2013
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110% 120% 130% 140% 150% 160% 170% 180% 190%Claims Ratio
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
% of Total +Premium Income ADJUSTED
AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
Others
RSA Insurance
Travelers
Zurich
Industry
LoB Claims vs Market Share Insurer (group)AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
Others
RSA Insurance
Travelers
Zurich
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110% 120% 130% 140% 150% 160% 170% 180% 190%Claims Ratio
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
% of Total +Premium Income ADJUSTED
2013
2012
20112012
2011
2013
2013
2011
2013
2012 2011
2011
2011
2012
2012
2011
2011
2013
2013
2012
2012
2011
2013
2012
2013
2012
2013
2011
201220132011
LoB Claims vs Market Share YoY Insurer (group)AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
RSA Insurance
Zurich
Travelers
Others
0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 32% 34% 36%Expense Ratio
0K
5K
10K
15K
20K
25K
30K
35K
40K
+Management Expenses
AXA InsuranceFBD
Aviva
Liberty \ Quinn
RSA Insurance
Allianz
Zurich
AIG
TravelersOthers I P B
Industry
Average
LoB Expenses Insurer (group)AXA Insurance
FBD
Aviva
Liberty \ Quinn
RSA Insurance
Allianz
Zurich
AIG
Travelers
Others
I P B
0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 32% 34% 36%Expense Ratio
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
% of Total +Premium Income ADJUSTED
AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
RSA Insurance
Travelers
Zurich
OthersIndustry
LoB Expense vs Market Share Insurer (group)AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
RSA Insurance
Travelers
Zurich
Others
0% 5% 10% 15% 20% 25% 30% 35% 40% 45%Non-Claims Cost Ratio
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
% of Total +Premium Income ADJUSTED
AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
RSA Insurance
Travelers
Zurich
OthersTotal
LoB Exp+Com vs Market Share Insurer (group)AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
RSA Insurance
Travelers
Zurich
Others
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110%Non-Claims Cost Ratio
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
22%
% of Total +Premium Income ADJUSTED
2013
2012
20112012
2011
2013
2013
2011
2012
2013
2013
20122011
2011
2011
2012
2012
2011
2011
2013
2013
2012
2012
2011
2013
2012
2013
2012
2013
2011
201220132011
LoB Exp+Com vs Market Share YoY Insurer (group)AIG
Allianz
Aviva
AXA Insurance
FBD
I P B
Liberty \ Quinn
RSA Insurance
Travelers
Zurich
Others
Date
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
0%
20%
40%
60%
80%
100%
120%
COR
125%
112%
101% 101%
110% 111%
102%
108%
123%
89%
82%
75%
85%
79%
110%
16%
87%
74%
64%56%
66%58%
75%
87% 85%
70% 73%
11%
10%
10%
10%
13%
14%
15%
94%
20%
17% 19%
24%27%
21%
98%
5%
4%
5%
5%
5%
5%
5%
6% 7%
8%
8%
8%
4%
LoB COR Year of Date1999 to 2013
Measure NamesCommission Ratio
Expense Ratio
Claims Ratio
Year of Date
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
0%
20%
40%
60%
80%
100%
120%
COR (ADJUSTED)
125%
112%
101% 101%
110%
105%101%
89%
82%
75%
85%
79%
97%99%
110%
16%
87%
74%
64%56%
66%58%
75%
87%80%
67% 69%
11%
10%
10%
10%
13%
14%
15%
73%
20%
17%
18%
22%22%
20%
98%
5%
4%
5%
5%
5%
5%
5%
6%
7%
8%7%
8%
4%
LoB COR Adjusted Year of Date1999 to 2013
Measure NamesCommission Ratio (ADJ..
Expense Ratio (ADJUS..
Claims Ratio (ADJUSTE..
COR (ADJUSTED)
2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date
-400K
-300K
-200K
-100K
0K
100K
200K
300K
400K
500K
600K
700K
Result on Technical Account
-400K
-300K
-200K
-100K
0K
100K
200K
300K
400K
500K
600K
700K
Underwriting Profit/Loss
LoB Result Year of Date1999 to 2013
Measure NamesResult on Technical Acc..
Underwriting Profit/Loss
Glenn Gillard
Some final thoughts…
34
35
36
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