Presentation on theme: "International Markets"— Presentation transcript:
1 International Markets Key Activities – March 2014>
2 ‘Big Businesses’: (McKinsey) GLOBAL CONTEXT >Geographic Shifts1‘Big Businesses’: (McKinsey)Now:8,000 ‘big businesses’ exceeding $1bn revenue$57trn in combined revenue (equivalent to 90% global GDP)73% in developed worldIn 2025:15,000 exceeding $1bn revenue$130trn in combined revenue45% in developing worldLocation of Fortune 500Source: : McKinsey Global Institute, Urban World: The shifting global business landscape, October 2013; ‘Big Business’ defined by McKinsey as a business with revenues exceeding US$ 1bn
3 GLOBAL CONTEXT >Forecast 1Source: Insurance Intelligence Centre analysis commissioned by Lloyd’s International Markets; Target Economies: Top 10 Developed and Top 10 Developing Markets selected as per PWC largest economies forecast in 2030, Developed / Developing classification as per IMF
4 GLOBAL CONTEXT >Key Examples 1CORE TAKEAWAYSCentre of economic gravity is shiftingMoving beyond the BRICs to include the N11 and other “Growth Markets”There remains vast catch up potential for per capita wealthSize of Bubble represents the size of the population by 2016(Gross Domestic Product by country)Sources: Market Intelligence based on: Compare Countries;Source: Market Intelligence based on:
6 Market Development Scope GLOBAL CONTEXT >Office Network1North AmericaEurope43212TypeMarket Development ScopeTerritories4Local underwriting with co-located syndicates(or via a Lloyd’s regulated entity); Country Manager with Market Development RoleChinaJapanSingaporeSouth Africa,Australia, Hong Kong (SAR)Benelux, France, Germany, Ireland, Italy, Poland, Spain, Sweden, SwitzerlandBrazil3Country Manager with Market Development RoleUKCanada, US Northeast, US Southeast, US Central & US West2Legal Representative for regulatory requirementsCyprus, Greece, Israel, Malta,New Zealand, IndiaAustria, Denmark, Norway, Portugal, LithuaniaArgentina, Belize, ChileNamibia, Zimbabwe, US Virgin Islands1Legal Representative for minimum regulatory requirementsSource: As per Lloyd’s website,
7 GLOBAL CONTEXT >Licence Network 1Cross border reinsuranceCross border/onshore reinsuranceCross border reinsurance; Onshore insurance/reinsuranceCross border/onshore insurance/reinsuranceUS Cross border/onshore reinsurance and surplus lines insuranceSource: As per Lloyd’s website,
8 WHO WE ARE >Senior Management 2John Nelson ChairmanInga Beale CEOLuke Savage DirectorSean McGovern DirectorVincent Vandendael DirectorTom Bolt DirectorNorth America, General Counsel and Risk ManagementSource: As per Lloyd’s website,
9 WHO WE ARE >International Markets 2VINCENT VANDENDAELStrategy & Operations Daniel Revilla Wahida Begum (Executive Assistant)Relationship Management Bob Stevenson Anita Wallace (Co-ordinator)Market Development & OperationsDavid BendorKiran Bhovan Michael LampardPhil McCarthyStephen MooreEd PennockKaan YardimciMarket IntelligenceNatalie Armitage (Graduate)Chris BrownTom GraceLara GreenRobert ShearmanFilip WuebbelerRegional DesksGabriel Anguiano (Latin America) John Threshie (Asia) Endrit KumbaroSusan Baker David Charles-Jones Sarah Hinton Geraldine Moynihan Ann O'Donnell Anne Rannie Nigel WilliamsonINDIA, MIDDLE EAST & AFRICA (IMEA) + UK & IRELANDBRAZILEUROPENORTH AMERICAASIA PACIFICCHINAJAPANMarco CastroCameron MurrayBenno ReischelHank WatkinsKent ChaplinEric GaoIain FergusonSource: As per Lloyd’s website,
10 WHAT WE DO >Six Priorities 3PRIORITYWORK STREAMACTIONMARKET INTELLIGENCEShare syndicate dataGather syndicate appetiteCedant / broker profilesEmerging market MICompare Countries enhancementsMARKET ACCESSLicencesLife licences - agreed LMA Market questionnaire & MI packDistributionCoverholder streamliningAction plan top 4 brokersTailored services mid tier brokersSubscriptionFacilitate consortia developmentExplain benefits of co-locationMARKET SUPPORTTailored ServicesTailored services managing agentsEducation & PromotionGlobal Development Centre (previously referred to as Lloyd’s Broker Academy)Global communications strategySource: As per Lloyd’s website,
11 WHAT WE DO >London Teams 3TEAMKEY ACTIVITIESMARKET DEVELOPMENT & OPERATIONSLead IM London market engagementLead or support regional developmentLead marketing & educational distribution initiativesSupport international events planning & executionLead country, regional & directorate planningSupport existing office operationsLead new office opening / office closureLead problem case managementMARKET INTELLIGENCELead Market Intelligence product development (Compare Countries, Country Profiles, Market Presentations, Class Review & Country Roundups)Cultivate internal & external interest groups for market intelligenceREGIONAL DESKSMexico & Latin America - quarterly trips to the country to meet key stakeholders - hosts an annual event/workshop and presentations - hosts a market day/presentation and receive inwards visitsAsia - Market development support for Lloyd’s platforms and Country Managers in Asia - support LJI and LICCL business placement & product development in London relationship management with MAs and London brokers - co-ordinate inwards visits/presentations in London - relationship management with London reps of Asian companiesSource: As per Lloyd’s website,
12 WHAT WE DO >Market Intelligence 3The Market Intelligence team provides analysis of the world’s insurance industry to help the market develop their business internationally.>Source: As per Lloyd’s website,
13 WHAT WE DO – Regional Desks 3Mexico & Latin America - quarterly trips to the country to meet key stakeholders - hosts an annual event/workshop and presentations at industry events in the country - hosts a market day/presentation and receive inwards visits/presentations in LondonAsia - Market development support for Lloyd’s platforms and Country Managers in Asia - support LJI and LICCL business placement & product development in London - relationship management with MAs and London brokers - co-ordinate inwards visits/presentations in London - relationship management with London offices of Asian companiesSource: As per Lloyd’s website,
14 HOW WE DO IT? >Who we work with 4Associations, market groups, agents & brokersLMA - Board, Market Development Strategy Group, Country Working Groups, Class of Business Panels & day to day liaison LIIBA – Board, Executive Committees, day to day liaisonCEO Survey – Annual indication of market appetite (agent & broker CEOs)Agent & broker liaison – London team, regional & country managers meeting with agent and broker directors, underwriters and brokersMarket Comms – Presentations & briefings, Interaction, Focus magazine, country brochures and driving traffic to Lloyds.comSource: As per Lloyd’s website,
15 DisclaimerThis document is intended for general information purposes only. Whilst all care has been taken to ensure the accuracy of the information Lloyd's does not accept any responsibility for any errors or omissions. Lloyd's does not accept any responsibility or liability for any loss to any person acting or refraining from action as a result of, but not limited to, any statement, fact, figure, expression of opinion or belief obtained in this document.
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