2015 PHC2015 PHC

A Look Inside AEGIS London

Nigel RobertsHead of Broker Relations

AEGIS London

2015 PHC2015 PHC

A Look Inside AEGIS London

Alex PowellActive Underwriter

AEGIS London

2015 PHC2015 PHC

A Look Inside AEGIS London

Matt YeldhamDeputy Active Underwriter and Head of Casualty

AEGIS London

2015 PHC

• 15 years of trading in London

• Underwriting in 182 countries

• Now 19th largest business in Lloyd’s

marketplace (out of 87)

• Originally writing three classes but now more than 20

• Great diversification for AEGIS NJ

• Since 2008 has contributed $262 million

toward policyholder surplus

• Developed in, and continues to be, London-based

The Weigh-in

-15%

-10%

-5%

0%

5%

10%

15%

20%

25%

150

200

250

300

350

400

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014

GW

P (

£m

)

Premium and Profitability Development

Pro

fit

Marg

in (

%)

Profit Margin (%) AEGIS GWP (£m)

2015 PHC

• 3rd least volatile underwriting result

over five years

• Combined ratio better than market

average for past five years

• 2012 ROCE = 44%

Top performer in Lloyd’s

• Nine years of continuous profit generation

The Tale of the Tape

60%

70%

80%

90%

100%

110%

120%

2010 2011 2012 2013 2014

Combined Ratio Comparison

Market AY Combined Ratio (%) AEGIS AY Combined Ratio (%)

2015 PHC

The First Bell

2015 PHC

Alex Powell

Title(s): Active Underwriter & Head of Property

Fights: Started in the industry in 1993

KO’s: 15 undefeated years and counting at AEGIS London

Specialty: US property, catastrophe, deductible buyback insurance

ex-broker and card shark

The Red Corner

2015 PHC

Matthew Yeldham

Titles(s): Deputy Active Underwriter & Head of Casualty

• Former semi-professional rugby player

• Market leader for a broad range of industrial casualty risks

• Responsible for the creation of several new wordings

• Reputation as a deal maker and innovator

The Blue Corner

2015 PHC

Orthodox Style

Hull

Specie

Cargo

Power

Utility

Property

Terrorism

Specialty

Upstream

Energy

Liability

Accident

& Health

Reinsurance

2015 PHC

• WTC reconstruction

• Non-appearance of rock stars

• Construction of multi billion dollar deepwater offshore projects

• Satellite launches

• Claude the albino alligator

Southpaw

2015 PHC

• 43% of our business by premium is from the “Big Four”

• Small(er) brokers account for a disproportionately large amount of our book

• 30% of our book is small business (less than $100,000 premium)

• Daily interactions with brokers to discuss strategy, new methods of distribution

• Increased broker merger activity poses challenges (and opportunities) for the future

• Clear AEGIS strategy to support broker distribution

Our Sparring Partners

2015 PHC

• Currently reviewing strategy with Deloitte

• Creating value through profitable growth

• Considering expanding existing classes and developing new ones

• Hiring people / teams when the face fits

• Strategic hire to build new online quote and bind platforms

Future Bouts

2015 PHC

• A consistently profitable part of the AEGIS family

• Providing diversification and “dividend” for the mutual

• Always here to help members

• Proud to be part of a great business

• Looking forward to the future with cautious optimism

The Verdict

2015 PHC

Let’s get ready to rumble!