presentation to london market€¦ · · 2012-11-302 • appeared –early 1990’s • number of...
TRANSCRIPT
027th
September 2012
Presentation to London Market
1
Russian insurance market overview
2
•
Appeared – early 1990’s
•
Number of Insurers – 572 (2010 –
600)
•
Overall
premium
income
in
2011
(excluding
CMI)
exceeds
665
bln
RUR
(22 bln. USD)
•
19th position in the world by premium income (2011)
•
Global insurance market share ‐
~ 1% (Swiss Re sigma study 2011)
•
CAGR (10 years) ‐
~15%
•
~ 200 000 people in the industry (full time)
•
Premiums
per
capita
=
4600
Rubles
in
2011
(equals
to
~
155
USD),
Increased by 1,9 since 2005
•
Claims paid (excluding CMI) –
303,8 bln. Rbls
•
Claims paid ratio –
45,7%
Overall Russian insurance market 2011
* Average Exchange rate: 30 RUR = 1 USD
3
Premiums in GNP (%)Including compulsory medical insurance
* Source: Swiss Re sigma study on world insurance in 2011 (www.swissre.com/media/news_releases/)
World insurance penetration 2011
4
Class of InsurancePremiums, RUR bln.
+/‐
2011/2010, %Claims, RUR bln.
+/‐
2011/2010
1. Voluntary insurances, Total 553 20,3 241 3,3Including:
Life insurance 35 53,1 8 ‐4,1Health, personal accident etc. (other than life) 146 18,8 71 3,8
Property insurance 345 20,1 148 ‐1,5
Liability 27 2,2 4 27,42. Compulsory, Total 713 22,1 648 20,6
IncludingPersonal accident for certain categories of citizens 7 9,8 6 ‐2,8
Compulsory Motor TPL 103 12,7 56 1,2Compulsory Health insurance 602 24,5 585 23,2
TOTAL 1 265 21,6 888 15,6
Structure of the Russian insurance market 2011
The amounts shown include CMI, further analytics is shown without
compulsory medical insurance
Insurance market dynamics (excluding CMI), thousand RUR
5
Russian insurance market Dynamics
* Average Exchange rate: 30 RUR = 1 USD
2011
6
Russian insurance market consolidation
Top‐5 Top‐20 Top‐100
35,8% 2008
40,5% 2011
70,4% 2011
65,3% 2008~93%
2011~82%
2008
The market share in 2011
7
Insurance Premium, 2011 Claims Paid, 2011
[Top‐10 largest insurance groups]Russian insurance market
№ InsurerPremium
(bln. Rbls) and
market share
1 Rosgosstrakh 92,9 (14,0%)
2 Sogaz 58,6 (8,8%)
3 Ingosstrakh 54,0 (8,1%)
4 RESO (an AXA company) 45,1 (6,8%)
5 AlfaInsurance 32,5 (4,9%)
6ROSNO
(an Allianz AG Company)32, 2 (4,8%)
7 VSK 29,7 (4,5%)
8 Soglasie 25,9 (3,9%)
9 MSK 19,9 (3,0%)
10 Renaissance 15,4 (2,3%)
№ InsurerClaims paid (bln. Rbls)
and share
1 Rosgosstrakh 43,0 (14,1%)
2 Sogaz 28,9 (9,5%)
3 Ingosstrakh 27,3 (9,0%)
4 RESO (an AXA company) 23,0 (7,6%)
5 AlfaInsurance 18,3 (6,0%)
6ROSNO
(an Allianz AG Company)17,2 (5,7%)
7 VSK 13,3 (4,4%)
8 Soglasie 12,8 (4,2%)
9 MSK 11,3 (3,7%)
10 Renaissance 8,6 (2,8%)
* Average Exchange rate: 30 RUR = 1 USD
8
Corporate insurance market 2011 In USD
Split of premiums, bln
RUR
Market 2011Market forecast
2012
Market forecast
2013
Growth 2012 vs
2011
Growth 2013 vs
2012
All corporate business 5,7 6,4 6,9 112% 107%Property
(incl
agriculture)3,8 4,2 4,5 111% 107%
Liability 0,5 0,8 0,8 153% 100%Cargo 0,7 0,8 0,9 108% 115%
Aviation 0,4 0,4 0,4 92% 102%Marine 0,2 0,2 0,2 104% 113%
Transport operators 0,1 0,1 0,1 108% 108%
9
Developments in 2012
•Law on Compulsory liability insurance of hazardous industrial objects (commercial entities) ‐
in force from 1st January 2012
Developments in 2013
•Law on Compulsory liability of hazardous industrial objects (state entities)
•Law on Compulsory liability insurance of passenger carriers (will come into force from 1st January 2013)
Russian Corporate insurance market
10
Hazardous liabilities•
New law into force
from
January 1st, 2012
•
The market size – up to 22 bln. Rubles (2011 – 2,5 bln. Rubles)
•
All policies are subject to internal placement with the Pool
•
The Pool capacity app. 2,4 bln. Rubles (May 2012)
•
Appr.
90
of
hazardous
objects
(main
dams
of
biggest
HPP)
have
to
be insured with 6,5 bln. Rubles sum insured
•
Tariff 0,1 %
•
Main target of the law –
compensation for people injured or killed in accident (employees) – 2 mln. Rubles per person
Russian Corporate insurance market
11
Passenger carriers’
liability•
Will come into force January 1st, 2013
•
The forecasted market size is up to 2,6 bln
rubles•
All kinds of transport
•
Sum insured – 2 mln. rubles each passenger
•
No aggregate sum insured
•
Problem –
combination of coverages
•
Domestic reinsurance within the Pool
•
Need
for
cat
losses
reinsurance
or
QS
reinsurance
for
risks with limits exceeding Pool capacity
Russian Corporate insurance market
12
Ingosstrakh in a nutshell
13
Ingosstrakh
is
one
of
the
largest
and
longest
standing
universal insurers in Russia:
•November
16,
1947
Ingosstrakh
Insurance
Company’s
birthday.
On
this
day,
the
Council
of
Ministers
of
the
USSR
signed
Regulation
#3819‐1281с
on
Founding
of
the
Foreign
Insurance
Office
of
the
USSR
(Ingosstrakh
Insurance
Company) on the basis of the Foreign
Operations
Office
(UINO)
of
Gosstrakh of
the USSR”.
•1991
Ingosstrakh
Insurance
Company
was
registered
as
a
closed
joint‐stock
insurance company.
•1993
Ingosstrakh
Insurance
Company
was
reorganized
into
an
open
joint‐
stock insurance company.
Extensive nationwide network with 83 branches covering 234
cities in Russia with number of employees (6 361), HQ – 3 006,
Branches 3 355.
Performance
Results.
The
volume
of
gross
written
premiums
collected
by
Ingosstrakh
Insurance
Company
in
2011
reached
56.1 bln rubles, 25.7% higher than in 2010. The Company’s net
profit of
2011
decreased
by
11.2%,
as
compared
to
2010,
and
totaled
2.3
bln
rubles.
Due
to
a
positive
financial
result,
the
Company’s
equity
grew
by
20.9%
in
2011,
reaching
19.4
bln
rubles.
Part
of
Basic
Element
group
and
PPF
real
estate
holding
(Russia’s largest investment holding companies).
Central office in Moscow: 41 Lesnaya street
This is Ingosstrakh
Central office in Moscow: 41 Lesnaya street
141 4 14
branches
Extensive nationwide network of Ingosstrakh
83234 Cities and town of Russian Federation
Moscow region
The services of Ingosstrakh are available throughout the Russian
Federation.
Ingosstrakh has83 branches and offers its services in 234 locations of Russia
15
THE INGO GROUP: GLOBAL REACHINGO
International
Insurance
Group
was
founded
in
2004.
Its
strategic
mission
is
to
create
a
deeply
integrated insurance community to increase cooperation in insurance and reinsurance operations. This
provides
for
a
strong
financial
support
of
every
Group
client.
Today
there
are
9
companies
in
INGO
Group (Russia)
that operate in the domestic Market, 8 of
which
are
members
of
the
THE INGO GROUP
(Russia).
Ingosstrakh
ONDD
Credit
Insurance
‐
is
an
affiliated
company
that
is
not
part
of
the
INGO
Group
The INGO Group operates in:
Our Objectives
•
Increase
of
Ingosstrakh
and
INGO
Group
overall
capitalization,
as
well
as
in
companies
they
incorporate through increasing their international presence
•
Strengthen the corporate governance system
•
Create a favorable environment to benefit from the synergy effects through out the
Group
Russia
Ukraine
Austria
Republic of Armenia
Republic of Belarus
Kyrgyz Republic
Republic of Uzbekistan
16
INGOSSTRAKH: FINANCIAL STRENGTH RATING
•
The
Russian
rating
agency
«Expert
RA»
reaffirmed
Ingosstrakh’s
highest
financial
stability
rating
at
A++
•
For
the
first
time
the
insurer
received
such
rating
in
2002
– credit
rating
as
contractor
and
the
financial
strength
rating
is
at
the
level
BBB‐, Stable
outlook
– national
scale
rating
is
ruAA+
•
the
International
rating
agency
Standard
& Poor’s:
Reputation
of Ingosstrakh is
confirmed
by
*Reliability
rating
is
an
assessment
of
insurance
companies’
possibilities
to
fully
meet
their
financial
obligations.
Expert
RA
makes
an
assessment through an in‐depth study of the company in accordance with its own methodology. Expert RA techniques have been favored
by various specialized companies, including PriceWaterhouseCoopers, and are officially recognized by the Russian All‐Insurers Union. The
Russian Ministry of Finance uses these ratings when regulating financial markets.
17
Ingosstrakh corporate market
18
Ingosstrakh & Corporate insurance market 2011
Split of premiums, bln
RUR Ingosstrakh Market ShareAll corporate business 16 497 170 827 9,66%
Property (incl
agriculture) 6 726 114 280 6%Liability 1 121 14 875 8%Cargo 807 22 035 4%Aviation 5 641 12 097 47%Marine 1 680 5 330 32%
Transport operators 522 2 210 24%
Share of Ingosstrakh on the Russian corporate market. 2011
* Average Exchange rate: 30 RUR = 1 USD
1
Property insurance Experience
• First policies –
30 years ago
• Dedicated team (4 persons) –
23 years
•
Now 55 staff members in 4 underwriting/sales divisions at Head office:
Industrial property
Non-Industrial Property
International Programs
Banks/Leasing Companies/Pledged Property
• 8 regional centers and 82 branches throughout Russia
• more than 22,000 policies annually
• 17 staff
members in claims handling department
2
Property insurance Portfolio Development
4 647
2 430
5 594
871
4 405
957
3 993
705
4 671
2 376
-
1 000
2 000
3 000
4 000
5 000
6 000
Mio RUR
2007 2008 2009 2010 2011
Written PremiumClaims Paid
3
Property insurance Portfolio Structure
Industrial; 67,8%
Non-Industrial; 29,9%
Energy; 2,3% Reinsurance; 22%
Direct Insurance; 78%
Type of Property
Split by premium Split by premium
Direct / Reinsurance
4
Property insurance Key clients
UC RUSAL -
the world’s largest aluminium
producer, operating in 19 countries on 5 continents.
GAZ Group -
is Russia's largest automotive engineering holding. 20 plants manufacturing commercial vehicles, trucks, buses, passenger cars, construction equipment
Irkutskenergo -
one of the largest power generation companies in Russia, installed capacity 12.9 thousand MW, 3 hydro power plants, 9 thermal power plants, electricity transmission networks
Russian Post Service -
86 branches, 42 000 post offices throughout the country
Marriott -
hotels in St.Petersburg, Samara etc.
Moscow Metro –
12 lines, 186 stations, 308,7 km of railways, 7 million passengers daily
5
Property insurance Large Losses
Resulting in lack of raw materials at RUSAL Sayanogorsk
aluminium
smelter due to interruption in delivery by railroad.
Consequential Loss of Profit due to shutdown of the 4th
pot line (179 pots) and Increased Cost of Working due to transportation of alumina and finished goods by trucks.
Current reserve -
USD 40.7 million
Collapse of the railroad bridge across Abakan river, Khakassiya, on 7th May, 2011.
6
Property insurance Large Losses
Collapse of SSI Schäfer
shelf system at Itella
Logistics (OOO “NLK”) warehouse of total area 41,000 sq. m.
Good of various Motor oils (90% of all goods, construction materials, office electronics, spare parts for mining machinery etc. were damaged due to the accident.
Current reserve –
approx. RUR 1 billion
Collapse of shelves at the warehouse in Shushary
village, St. Petersburg, on 15th July, 2012.
7
Engineering insurance Experience
• First projects insured in the late sixties
• More than 40 years in engineering insurance
• IMIA member since 1968
•
Engineering insurance team of 7 underwriters and 3 loss adjusters
•
In-house Risk Engineering Centre with experienced fire prevention and safety engineers
• More than 1,500 policies per year
• Estimated Premium Income (2012) –
900 million RUR
8
Engineering insurance Portfolio Development
539414
535 606
1 008
354
570
250
716
300
-
200
400
600
800
1 000
1 200
2007 2008 2009 2010 2011
Written Premium Claims Paid
Million RUR
9
Engineering insurance Portfolio Structure
CAR/EAR; 82,12%
CPM/ME; 17,88%
CAR/EAR CPM/ME
Reinsurance; 6,95%
Direct Insurance;
93,05%
Direct Insurance Reinsurance
10
Engineering insurance Key Clients/ Projects
Various works at Hydro Power Plants throughout
Russia
Construction
projects
in
transport infrastructure.
Olympic Village in Sochi, offices and residential buildings projects
in
Moscow
Roads, office buildings, other projects in Moscow
11
Engineering insurance Key Clients/ Projects
New football stadium in Sankt-Petersburg (Zenit-
Arena) Boguchanskaya
dam and power plant
Projects for Olympics 2014 in Sochi
12
Engineering insurance Loss Examples
Storm damage to a seaport under construction in Sochi.
Severe damage caused to by waves of more than 10 m high
Claim settled at RUR 351.3 million for Ingosstrakh share
13
Engineering insurance Loss Examples
Probably the largest EAR claim at Russian market -
220KV/110KV 250MVA autotransformer short-circuit and ensuing fire at 500 кV
substation in Moscow during commissioning.
Claim was settled at 2.25 billion RUR, Ingosstrakh share –
166.3 million
RUR
14
Terrorism Risk InsuranceRegions: No of attacks:
1. Northern region -
2. North-western region 2
3. Central region 3
4. Volga-Vyatka region -
5. Central-chernozyom region -
6. Volga region -
7. North-Caucasus region 25
8. Urals region -
9. West-Siberian region -
10. East-Siberian region -
11. Far East region -
The North-Caucasus region is the most prone to terrorist attacks.(Chechnya, Dagestan, Ingushetia,and Kabardino-Balkaria).
Number of terrorist acts for the last 2 years
15
Terrorism Risk Insurance Portfolio
300 policies per year with terrorism and sabotage risk covered
81.5 million RUR annual premium
Regional spread by number of risks
16
Terrorism Risk Insurance Portfolio Structure
17
Terrorism Risk Insurance Portfolio Structure
18
Terrorism Risk Insurance Portfolio Structure
19
Liability insurance• Most rapidly growing line of business
• Liability Insurance Division comprises 3 departments:
Financial and Professional Risks Insurance Department (Professional liability of auditors, architects, construction contractors, depositories etc.)
Hazardous Objects Insurance Department (Liabilities of owners of pressure vessels, elevators, dams, nuclear power plants etc.)
Public Liability Insurance Department (General third Party Liability, Clinical Trials)
•
Major clients/segments and their share
in liability insurance
portfolio
“Big Four”
auditors (KPMG, E&Y, D&T) –
21%
Clinical Trials –
12%
Liability of members of self-regulated organizations of contractors, designers and engineers (SRO) –
11%
Russian Nuclear Insurance Pool –
7%
20
Liability insurance Portfolio Development
0
200
400
600
800
1 000
1 200Mio RUR
2 007 2 008 2 009 2 010 2 011
FPRIDHEIDPLID
• Financial and Professional Risks Insurance Department (FPRID)• Hazardous Objects Insurance Department (HOID)• Public Liability Insurance Department (PLID)
21
Liability insurance Portfolio Structure
• Financial and Professional Risks Insurance Department (FPRID)• Hazardous Objects Insurance Department (HOID)• Public Liability Insurance Department (PLID)
22
Liability insurance Loss Examples
• Bankruptcy of travel operators:
Lanta
Tour –
100 million RUR
Luzhniki
Travel and Cherry Tour -
45 million RUR
• Irkol
45 million RUR
damage caused in result of malicious actions of third
parties connected with operations of attorney’s forgery and unlawful shares’
write-off
• Liability of a warehouse operators -
30 million RUR
fire
at the warehouse
complex and damage to the
goods under care and custody
23
Portfolio DevelopmentAviation and Space insurance
2 395
486
1 698
627
2 186
842
2 493
349
5 641
1 157
-
1 000
2 000
3 000
4 000
5 000
6 000
2007 2008 2009 2010 2011
Premiums
Claims
24
Portfolio StructureAviation and Space insurance
0
1 000
2 000
3 000
4 000
5 000
6 000
2007 2008 2009 2010 2011
Aviation Space Airport and Manufacturers Liability
25
2011
58,30%12,30%
4,80%
24,60%
Portfolio StructureAviation and Space insurance
2010
17,60%
17,40%
8,00%57,00%
Space
Airport andManufacturers LiabilityDomestic Airlines
International Airlines
26
Space and Aviation insurance Key Clients
27
Loss Examples
• 205 claims submitted in 2011, 202 claims settled.
• RUR 800 million –
OAO Voronezh Aircraft Company.
Total loss of the An-148-100Е
aircraft during a training flight.
• RUR 42 million –
total constructive loss of the Fairchild Metro
23
aircraft resulting from its landing in Bolivia with landing gear
not
down.
• RUR 17 million –
Antonov
State Enterprise.
Damage of the aircraft engine resulting from bird ingestion.
• RUR 7.5 billion -
loss of “Express-AM4”
satellite.
The biggest loss in Russian insurance history. The loss was successfully settled in January 2012.
Aviation and Space insurance
28
Experience
• Ingosstrakh has been insuring vessels since 1947 and provides P&I cover since 1972
• Ingosstrakh is ranked 1st
in Russian marine market with 29%
share.
• Company has a wide network of correspondents who are always ready to assist our clients almost in all ports of the world.
• Hull Machinery and P&I Underwriting team of 26 persons. They are
supported by claims handling team consisting of 19 members.
• Our team includes maritime lawyers, individuals with commercial experience gained from working in shipping companies and have knowledge of maritime law and marine insurance practice.
• The average age of experience in marine business is more than 20
years.
Marine Hull and P&I Insurance
29
Portfolio StructureMarine Hull and P&I Insurance
Ocean vessels; 44,60%
River vessels & yachts; 15,40%
P&I; 40%
30
Major Clients
• Fedcomshipping
Co.
• Kaalbye
Shipping Co.
• Ost-West Handel
• Volga Shipping Co.
• Myanma
Five Star Lines
• Primorsk
Shipping Yard “Yantar”
• Great Luck Enterprise (HK) Limited
• North Western Shipping Co.
Marine Hull and P&I Insurance• AKROS
• Nornickel
• ARK Shipping
• Rosnefteflot
• Alendal
• Ocean Agencies
• Kent Shipping
• Pacific Andes
31
Loss Examples
• Customers submitted 1,408 claims, with 1,357 claims settled. Claim payments totaled RUR 922 million.
• RUR 36 million –
damage to the engine of the Atlantic Leader
motor ship
• RUR 31 million –
collision of the Arkaim-6 motor ship with a
Chinese fishing boat.
• RUR 14 million –
an interim payment in connection with the
missing steering tube of the Siziman
tug boat.
• RUR 96 million -
collision of the “Agios
Vartholomeos”
vessel on
the port crane and port mooring. The incident took place in the course of mooring operations in the port of Dammam, Saudi Arabia.
Marine Hull and P&I Insurance
32
Cargo insurance Experience
Almost 65-year experience from the Company foundation in1947
High range of special cargo insurance programs availability (such as oil and oil products, sugar, household and electronic equipment,
vehicles etc.)
Availability of highly qualified service rendering all over the world (investigation of a loss, arranging for survey etc.)
Permanent leading position in Russian cargo insurance market
Business structure consisting of four departments specializing on:• Fine arts and specie• Commodity and raw materials•
Consumer goods
• General cargo
33
Cargo insurance Portfolio Development
882
252
708
234
804
192
795
249
0
100
200
300
400
500
600
700
800
900
2008 2009 2010 2011
PI (mio RUR)Claims Paid (mio RUR)
34
Cargo insurance Portfolio Structure
Consumer goods25%
General cargo30%
Fine arts and specie23%
Commodity and raw materials
22%
General cargoConsumer goodsFine arts and specieCommodity and raw materials
35
Cargo insurance Key Clients
36
Cargo insurance Loss Examples
• 1998 -
Total loss of two SU-27 jets as the result of Irkutsk air
crash. 56.2 mio. USD
• 2009 -
Robbery during transportation of tobacco products
1.08 mio. USD
• 2010 -
Total loss of the cargo (coal) in a ship-wreck.
0.83 mio. USD
• 2011 -
Damage to railway cranes during shipment.
1.27 mio. USD
• 2012 -
Total loss of the cargo (metals) in a ship-wreck.
9.2 mio. USD
Reinsurance Department
Reinsurance Department
Approaching Renewals… Reinsurance Department
Reinsurance Department
Outward Reinsurance Division
Inward Reinsurance Centre
Inward Treaty Reinsurance Division
Approaching Renewals… Reinsurance Department
Outward Reinsurance Division
Aviation & Space Outward Reinsurance
Unit Marine Outward Reinsurance Unit
Non-Marine Outward Reinsurance
Unit
Approaching Renewals…
NONNONNON---MARINE MARINE MARINE REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Reinsurance Department
Inward Treaty Reinsurance Division
International Inward Unit
Inward Retail Reinsurance Unit
Inward CIS and Baltic States Unit
Approaching Renewals…
PROPERTY REINSURANCE TREATYStructure: XL reinsurance
Total Treaty capacity: EUR 150,000,000 or USD 225,000,000 or RUR 6,750,000,000
Priority (self retention): EUR 5,000,000 or USD 7,500,000 or RUR 225,000,000
EPI 2012: USD 37,000,000
Scope of cover: All property business including the
following:
-
All Risks Policies, -
Machinery Breakdown and Business Interruption,
-
Loss of Profits and Consequential Loss, -
Policies issued on TSI, PML, 1st loss, Loss Limit
basis
NONNONNON---MARINE MARINE MARINE REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Outward Reinsurance Division
Approaching Renewals…
ENGINEERING REINSURANCE TREATY:Structure: XL reinsurance
Total Treaty capacity: EUR 100,000,000Sub-Limit
for CAR/EAR TPL
risks = EUR 5,000,000
Priority (retention): EUR 2,000,000
EPI 2012: EUR 7,500,000
Scope of cover: All business accepted in the following classes of insurance:Machinery (M) incl. Boiler Pressure Vessel (BPV), Electronic Equipment (EE), Deterioration of Stock in Cold Storage Insurance (DOS), Erection All Risks (EAR), Contractors’
All Risks
(СAR), Contractors’
Plant and Machinery (CPM), Advance Loss of Profits (ALOP) –
with EUR 20,000,000 sub-limit, Civil Engineering Completed Risks (CECR) –
with EUR
20,000,000 sub-limitNONNONNON---MARINE MARINE MARINE
REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Outward Reinsurance Division
Approaching Renewals…
Sabotage and Terrorism treaty:Structure: XL reinsurance
Total Treaty capacity: EUR 77,250,000 or USD 103,000,000 or RUR 3,090,000,000
Priority (retention): EUR 2,250,000 or USD 3,000,000 or RUR 90,000,000
EPI 2012/2013: EUR 1,200,000
Scope of cover: Terrorism, Sabotage, SRCC (as special acceptance) for property and construction/erection accounts.
NONNONNON---MARINE MARINE MARINE REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Outward Reinsurance Division
Approaching Renewals…
MOTOR REINSURANCE TREATYStructure: Cat XL reinsurance
Total Treaty capacity: USD 25,000,000
Priority (self retention): USD 2,400,000
EPI 2012: USD 819 933 333
Scope of cover: All Motor Own Damage
risks written directly
or indirectly
NONNONNON---MARINE MARINE MARINE REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Outward Reinsurance Division
LIABILITY REINSURANCE TREATY:
Structure: XL reinsuranceTotal Treaty capacity: EUR 16,000,000 or USD 20,000,000 or RUR 600,000,000Priority (retention): EUR 800,000 or USD 1,000,000 or RUR 30,000,000EPI 2012/2013: USD 9,600,000
Scope of cover: General Third Party Liability including public and products liability/completed operations, employers’
liability, hydro-technical
constructions owner’s liability and workmen's’
compensation, constructors’
general third party liability under SRO;
Professional Indemnity for Asset Managers, Auditors, Lawyers, Valuers, Surveyors, Notaries, Doctors, Real Estate Agents, Stock Market Professional Operators, Prospectors, Architects, Insurance brokers, Project managers, Liquidators.NONNONNON---MARINE MARINE MARINE
REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Outward Reinsurance Division
Approaching Renewals…
PERSONAL ACCIDENT REINSURANCE PROGRAM:1.1. Non-Proportional Treaty II:
Structure Cat XL reinsurance
Total Treaty capacity: USD 8,000,000
Priority: USD 3,000,000
EPI 2012/2013: USD 9,900,000
Scope of cover: (including illnesses, excluding group policies to cover a simultaneous common hazard)
NONNONNON---MARINE MARINE MARINE REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Outward Reinsurance Division
Approaching Renewals…
AGRICULTURAL REINSURANCE PROGRAM1.1. NON-Proportional Treaty:
Structure Stop Loss Agreement
Total Treaty capacity: 500% Loss ratio
Priority: 300% Loss ratio, but not less than RUR 450,000,000
EPI 2012:
RUR 200,000,000
Scope of cover: Crops business only
NONNONNON---MARINE MARINE MARINE REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Reinsurance Division
Approaching Renewals…
LIVESTOCK REINSURANCE PROGRAM1.1. NON-Proportional Treaty:
Structure Stop Loss Agreement
Total Treaty capacity: 600% Loss ratio
Priority: 300% Loss ratio, but not less than RUR 204,000,000
EPI 2012 (8 months): RUR 85,000,000
Scope of cover: Livestock
NONNONNON---MARINE MARINE MARINE REINSURANCE PROGRAMSREINSURANCE PROGRAMSREINSURANCE PROGRAMS
Reinsurance Division
(Structure )
Aviation & Space Outgoing Reinsurance Unit
Airline Reinsurance Aviation Reinsurance Space Risk Reinsurance
Facultative Protection for:Airline Hull, Spares & Liability
Aviation Hull & Spares DeductibleAirline Hull War
Aviation War Liability
Aviation Hull QS TreatyAviation Hull War QS Treaty
Aviation Liability XL TreatyAviation Excess War Liability Reinsurance
Aviation Excess Liability Reinsurance
Facultative Protection for:Satellite In-orbit Operations
Satellite LaunchingTPLL
Space Hull & Loss of RevenueTreaty
-
was established in 2006-
comprehensive protection for all aviation business underwritten by the Company
Aviation and Space Outward Reinsurance Unit
Outward Reinsurance Division
( Treaties
)Type Basis Limits EPI Leader
Aviation Hull QS LORA 10 000 00017 800 000
Swiss ReAviation Hull RX LORA 30 000 000 Hannover ReAviation Hull War QS LORA 60 000 000 1 500 000 MKL 3000Aviation Liability XL LOD 75 000 000 4 950 000 Swiss Re
Aviation Excess Liability Reinsurance LORA 950 000 000 2 500 000 Aspen
Aviation Excess War Liability Reinsurance LORA 900 000 000 1 400 000 Aspen
Space Hull & Loss of Revenue Treaty LORA 15 000 000
Outward Reinsurance Division
Aviation and Space Outgoing Reinsurance Department
Reporter: USD 222,500,000 xs USD 2,500,000Unlimited Free ReinstatementsLeader is Cathedral 2010, Lloyds syndicateNPI 2009 – USD 18.690.000NPI 2010 – USD 19.115.000EPI 2011 – USD 19.800.000EPI 2012 – USD 20.300.000Brokers:Flag broker Robert Flemings, LondonWillis Limited, London
Marine Cargo Reinsurance Treaty
Marine Cargo XOL Programme
2012
Outward Reinsurance Division
The Programme covers all business allocated to Marine Cargo Account in respect of direct or facultative reinsurance acceptances and including all obligatory treaties existing between members of the INGO Group, includingSpecie or Fine Art Business against all risks of physical loss or damage including mysterious disappearance whilst in the custody or control of the Assured, infidelity and pavement risks, including uncut diamonds either in transit or storage.
Exhibition risks included for the period of transportation as well as for the period of display.
Strikes, riots, civil commotions and malicious damage for cargo on land subject to current institute war, strikes, riots and civil commotions clauses or equivalent.
Marine Hull Reinsurance Treaty
Marine HullMarine HullMarine Hull XOLXOLXOL ProgrammeProgrammeProgramme201220122012
1st Layer USD 4,500,000 excess USD 2,500,0002 Full Reinstatements @ 100%
2nd Layer USD 8,000,000 excess USD 7,000,0002 Full Reinstatements @ 100%
3rd Layer USD 15,000,000 excess USD 15,000,0002 Full Reinstatements @ 100%
4th Layer USD 20,000,000 excess USD 30,000,0001 Full Reinstatement @ 100%
NPI 2009
-
USD 15.430.000NPI 2010 -
USD 15.710.000ENPI 2011 -
USD 17.430.000ENPI 2012 -
USD 17.430.000Leader of the Programme
is Munich Re, Germany
Outward Reinsurance Division
There are no structural changes in Ingosstrakh P&I XOL Reinsurance Programme, which consists of the Main Programme USD 22m x USD 3m and the Reporter USD 475m x USD 25m.
P&I Reinsurance Treaty
Layers LimitSection 4 – USD 475 million x 25 million
Section 3 - USD 275 million x 25 million
Section 2 – USD 75 million x 25 million
Section 1 – USD 25 million x 25 million
3rd layer – USD 15 million x 10 million
2nd layer – USD 5 million x 5 million
1st layer – USD 2 million x 3 million
Ingosstrakh retention - USD 3 million
Outward Reinsurance Division
Structure:USD 9 500 000 xs USD 2 500 000
NPI 2010 – USD 1 920 000EPI 2011 – USD 2 110 000EPI 2012 – USD 2 300 000
Marine Rolling Stock Hull Programme
Outward Reinsurance Division