welcome address lord levene, chairman, lloyd’s. introduction antonio prida, member of the...
TRANSCRIPT
Welcome addresslord levene, chairman,
lloyd’s
Introduction
antonio prida, member of the committee for uk mexico business relationships
Trends & strategic plans for mexico: risks and opportunities
manuel aguilera, cnsf
Introduction to lloyd’s
jose ribeiro, director, international markets, lloyd’s
© Lloyd’s5
1 Sobre Lloyd’s:
Qué es y cómo funciona
Seguridad y solvencia financiera
2 Lloyd’s en México
3 Resultados
Índice
© Lloyd’s6
Qué es Lloyd’s?
© Lloyd’s7
Es el mercado lider de seguros especializados en el mundo
© Lloyd’s8
Lloyd’s es diferente!
Lloyd’s es una sociedad de miembros que opera como un mercado de seguros. No es una compañía de seguros.
Lloyd’s tiene miembros. No tiene accionistas ni socios.
© Lloyd’s9
Estructura de Lloyd’s
© Lloyd’s10
Participantes en Lloyd’s
The Society & Corporation of Lloyd’s
Miembros de Lloyd’s.
Sindicatos de Lloyd’s
Managing Agents.
Lloyd’s Brokers
Coverholders / Service companies
© Lloyd’s11Fuente: Lloyd’s al 31/12/09;
Estructura del mercado de Lloyd’s
Miembros
Asegurados
Directo
Reaseguro
53 Agentes Gestores
Gestión
85Sindicatos
Suscripción
Agentes(miembros)
181 corredores de Lloyd's
SuscriptoresFacultados
Compañías de Servicio
FLUJO DE NEGOCIOS PROVISIÓN DE CAPITAL
Corporativos
Personas
Corporation of Lloyd’s
© Lloyd’s12
AGENTES GESTORES ( Managing Agents)
Fuente: Lloyd’s al 01/01/09
Los sindicatos que suscriben riesgos en Lloyd's conjuntamente forman uno los aseguradores mas grandes del mundo, y un reasegurador líder.
El mercado de Lloyd's cuenta con 53 agentes gestores que administran 85 sindicatos.
MembersPolicyholders
Direct
Reinsurance
48 Managing
Agents
Management
78Syndicates
Underwriting
Members Agents
BUSINESS FLOW CAPITAL PROVISION
Corporate
Individual
Corporation of Lloyd’s
MembersPolicyholders
Direct
Reinsurance
51 Managing
Agents
Management
80Syndicates
Underwriting
Members Agents
Corporate
Individual
Corporation of Lloyd’s
176Lloyd’s
Brokers
Service Companies
© Lloyd’s13
SEGURIDAD Y SOLVENCIA FINANCIERA
© Lloyd’s14
Fortaleza y estabilidad
Fuente: Society of Lloyd’s financial statements, Annual Report, (Marzo 2010)
CADENA DE RESPALDO OFRECE EXCELENTE SEGURIDAD y EFICIENDIA DE CAPITAL
1ER NIVEL
2do
NIVEL
3er
NIVEL
Activos a nivel de sindicatos
GBP 37,400m
Fondos de miembros de Lloyd's
GBP 13,159m
ACTIVOS
DIVERSOS
ACTIVOS MUTUOS
Fondo central GBP 983m Activos corporación GBP 143m
Deuda subordinada / valores GBP 958m
capa
sup
lem
en
taria
GB
P 683m
© Lloyd’s15
Ratings financieros
Calificaciones
Las principales agencias de calificación reconocen la fortaleza de Lloyd’s y su fuerte capitalización.
Los ratings de Lloyd’s aplican a toda póliza emitida por cualquier Sindicato de Lloyd’s desde 1993.
En los últimos años, nuestros ratings han resistido, prueba de nuestra fortaleza financiera y competitiva.
Calificaciones confirmadas en Julio /Septiembre 2010
Fitch RatingsA+ (fuerte), estable
Standard & Poor’sA+ (fuerte), estable
A+
AA.M. BestA (excelente), estable
© Lloyd’s16
Lloyd’s en México
© Lloyd’s17
Posición de Lloyd’s en México● registrado como reaseguradora extranjera desde 1985
● primas : USD 330 millones (2009), crecimiento de 65% en últimos 5 años
● reclamaciones : respuesta y apoyo al mercado después de pérdidas catastróficas
● clases de riesgo
todas las clases de P&C
algunos nichos de A&E (accidentes y gastos médicos)
© Lloyd’s18
Resultados - benchmark
Lloyd’s continues to compare well against its peers
Sources: Sources i) Insurance Information Institute (estimate-2009), ii) Reinsurance Association of America, iii) Company data (8 European companies: 17 Bermudian companies)
9792
102101
91
100
86
94
99
84
50
70
90
110
130
Lloyd's US P/C Industry (i) US Reinsurers (ii) European(Re)Insurers (iii)
Bermudian(Re)Insurers (iii)
2005 2006 2007 2008 2009
COMBINED RATIO
Coffee break
Lloyd’s – the broker perspective
richard elias – chairman, howden insurance brokers
Lloyd’s – the benefits of being a lloyd’s coverholder
nick hales – head of business development, talbot
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LLOYD’S A COVERHOLDER’S PERSPECTIVE
Nicholas J. HalesManaging DirectorUnderwriting Risk Services Ltd
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INTRODUCTION
• The delegated authority models
– Service company
– Coverholder
– Managing General Agent (MGA)
• Facts
• How we utilise the models
• Attractive model to Lloyd’s
• Benefits of being a coverholder
• Q & A
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DELEGATED AUTHORITY MODELS
• Service company
“Service company coverholder” means an approved coverholder that –
(a) Is associated with a managing agent by reason of –
(i) It being a wholly owned subsidiary of the managing agent
(ii) It being a wholly owned subsidiary of the managing agent’s
holding company
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DELEGATED AUTHORITY MODELS
• Coverholder
A coverholder is a firm that is authorised by a managing agent under
the terms of a binding authority to enter into a contract of insurance to
be underwritten by members of a syndicate.
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Insured LocalBroker COVERHOLDERS
Lloyd’ssyndicates
Lloyd’s Broker
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DELEGATED AUTHORITY MODELS
• Coverholder
• They allow Lloyd’s syndicates to operate as if it were a local insurer
• A Lloyd’s syndicate delegates full or limited authority to a company (usually a broker) to commit to contracts on its behalf
• The rights and obligations of the coverholder are set out in a contract (the binding authority) which is renewed annually
• Coverholders issue the insurance documentation to policyholders
• Many coverholders are given the authority to handle claims
• The Lloyd’s Corporation approves all coverholders
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DELEGATED AUTHORITY MODELS
• Managing General Agent
A managing general agent (MGA) is a firm authorised by an insurer to transact insurance business who may have authority to bind the insurer, issue policies, appoint producers, adjust claims and provide administrative support for the types of insurance coverage pursuant to an agency agreement.
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FACTS
• Approximately 2000 coverholders (ex UK)
• Approximately 200 service companies
• £6bn of premium transacted via these models to Lloyd’s
• Approximately 26% of Lloyd’s income
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HOW WE USE THESE MODELS
• Service company SingaporeVia Lloyd’s Asia platform
• Service company Miami and ChileLatin American Treaty andFacultative Business from region
• Coverholders / MGA’S Location: Specialising in:
New York Onshore Energy / Marine
London Onshore Energy / Yachts /Marine (Marinas) / Builders Risks / Fine Art
Dubai Energy / Construction
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BENEFITS TO US
• Distribution channel and access to regional markets
• Become part of the local marketplace
• Focus on specialist / niche areas of underwriting
• Have a capacity which is attractive to local buyers
• Permit local underwriting to complement other areas
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WHY ARE THESE ATTRACTIVE MODELS TO LLOYD’S?
• Agent of underwriters (not policyholders)
• Utilise local expertise / specialists
• Issue local documentation / Collect premiums / Pay claims
• Access point for Lloyd’s security into local markets
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KEY BENEFITS OF BEING A COVERHOLDER
• Access to Lloyd’s brand, security and ratings
• Access to specialist underwriting expertise
• Ability to issue policies, authorise and handle claims
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CONCLUDING REMARK
Some Personal Thoughts
“Coverholders represent and contribute to the strength and diversity of the Lloyd’s franchise. They should be seen as the focus for local knowledge, local relationships and the true local voice for the international Lloyd’s brand”.
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Questions
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Lloyd’s panel
jose ribeirorichard eliasnick halesantonio prida
Coffee & networking