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1 FOR BROKERS & MANAGING AGENTS >   > Recent Updates: 18 October 2010  New Market Intelligence ProductsNew Market Intelligence Products  Country Manager Presentations in H2 2010Country Manager Presentations in H  Market Intelligence Product SummaryMarket Intelligence Product Summary Quick Tour International Market Development International Markets team, key priorities for Operations and Market Development, International Events and Market Intelligence products Click HERE for Tutorial Click HERE to launch dashboard

2 © Lloyd’s Content International Markets 2010 Priorities Click Box to navigate Strategic Review Market Development Factors International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

3 © Lloyd’s Navigation About QUICK TOUR is designed to be used as a dashboard (in PowerPoint Show Mode). This enables quick navigation to areas of interest using the various dashboard tools summarised below. Click Any Box to navigate to area of interest Click Any Top Box to navigate to any other section Click Top Left Box to return to CONTENT International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

4 © Lloyd’s International Markets From Team structure to key priorities… International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

5 © Lloyd’s Tom Bolt Director Performance Management Sean McGovern Director North America & General Counsel Luke Savage Director Finance, Risk Management & Operations Peter Levene Chairman Richard Ward CEO Jose Ribeiro Director International Markets Sue Langley Director Market Operations Lloyd’s Senior Management Team 1Operations International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

6 © Lloyd’s International Markets Jose Ribeiro Operations Kevin Reeves Marianna Papadakis Carys Lawton Market Development Matthew Chandler John Threshie Market Development Stephen Moore Edward Pennock Market Intelligence Filip Wuebbeler Govind Ratnam Bruno Davila Alex Milne Jessica Doig Ana Adami * as country manager for Brazil Broker Relationship Management Alan Taylor Gabriel Anguiano Sarah Hinton Marco Castro* Northern Europe: Benno Reischel Southern & Eastern Europe & Africa: Enrico Bertagna UK & Ireland: Keith Stern Asia: TBC Eric GaoIain Ferguson LATIN AMERICAEUROPEASIA PACIFICCHINAJAPAN International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

7 © Lloyd’s What is Operations? HAS APPROPRIATE REPRESENTATION COMPLY WITH GUIDANCE COMMUNICATE SUPPORT DELIVER APPROPRIATE REPRESENTATION for Lloyd’s in key territories. Lloyd’s has the appropriate representation in key territories to meet regulatory requirements and the adequately support the Lloyd’s market. Establishment of new offices. COMMUNICATE profile and value of international network. The profile and value of the international network is communicated to and understood by the Lloyd’s market COMPLY WITH GUIDANCE for Lloyd’s international network. The international network operates in accordance with Lloyd’s guidelines / compliance framework; effectively mitigating risks. SUPPORT & DELIVERY of services to international offices and staff. The international network, including all overseas staff, receive the support they require in performing their functions (inc. HR, property, systems). DELIVER services to the market. Services to the market are delivered efficiently and in a consistent approach. International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

8 © Lloyd’s What is Market Development? UNDERSTAND ACT AS A BRIDGE DELIVER COORDINATE EXPLORE UNDERSTAND Managing agents & brokers appetite. Annual CEO Survey to managing agents and brokers to gauge appetite for market development. DELIVER wide range of international promotional events. Work with Lloyd’s Events Team to deliver a wide range of promotional events for Lloyd's internationally and advertise these events to managing agents and brokers. ACT AS BRIDGE between country managers and market. Help support managing agents wanting to do international business by acting as a bridge to the country manager and also by encouraging support to international promotional events. COORDINATE country managers business plan. Coordinate & oversee the annual country business plan and international markets budget setting exercise. EXPLORE opportunities for licence development. Work with managing agents and brokers to explore opportunities for licence development in both established markets and new markets International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

9 © Lloyd’s Geographic split of Lloyd’s – Overview Source: Lloyd’s, Annual Report, (March 2010), US 41% UK 20% Europe 16% Other Americas 6% Central Asia & Asia Pacific 9% Rest of the World 4% Canada 4% International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

10 © Lloyd’s Gross Domestic Product* – 2000 Source: *Purchasing Power Parity based on: IMF, World Economic Outlook (April 2010); Canada888bn US9.9 trillion Mexico1.0 trillion Brazil1.2 trillion Argentina 338bn UK1.5 trillion France 1.5trillion Germany2.1trillion Italy1.3 trillion Turkey512bn Russia1.1 trillion India1.5 trillion Saudi Arabia353bn South Africa295bn China3.0 trillion Japan3.2 trillion Korea775bn Indonesia500bn Australia528bn Size of bubble proportionate to level of Purchasing Power Parity in USD; benchmarked to US (2000) (IMF ESTIMATE) International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

11 © Lloyd’s Gross Domestic Product* – 2010 Canada1.3 trillion US14.7 trillion Mexico1.5 trillion Brazil2.1 trillion Argentina 609bn UK2.1 trillion France 2.1 trillion Germany2.8 trillion Italy1.7 trillion Turkey932bn Russia2.2 trillion India3.8 trillion Saudi Arabia618bn South Africa521bn China9.7 trillion Japan4.2 trillion Korea1.4 trillion Indonesia1.0 trillion Australia882bn Size of bubble proportionate to level of Purchasing Power Parity in USD; benchmarked to US (2010) (IMF FORECAST) Source: *Purchasing Power Parity based on: IMF, World Economic Outlook (April 2010); International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

12 © Lloyd’s Gross Domestic Product* – 2015 Canada1.6 trillion US18.2 trillion Mexico2.1 trillion Brazil2.8 trillion Argentina 771bn UK2.7 trillion France 2.6 trillion Germany3.3 trillion Italy2.0 trillion Turkey1.2 trillion Russia2.9 trillion India6.2 trillion Saudi Arabia838bn South Africa700bn China16.8 trillion Japan5.1 trillion Korea1.9 trillion Indonesia1.5 trillion Australia1.1 trillion Size of bubble proportionate to level of Purchasing Power Parity in USD; benchmarked to US (2015) (IMF FORECAST) Source: *Purchasing Power Parity based on: IMF, World Economic Outlook (April 2010); International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

13 © Lloyd’s Top Sovereign Wealth Funds* – 2010 US52bnNorway443bn Russia90bn Ireland31bn France28bn UAE662bn Saudi Arabia432bn Kuwait203bn Libya70bn Qatar65bn China787bn Singapore370bn Hong Kong140bn Australia59bn Korea27bn Malaysia25bn Size of coloured bubbles represent total disclosed SWF assets; benchmarked to China (2010) (SWF INSTITUTE ESTIMATE) Source: *Estimate based on: Sovereign Wealth Fund Institute, (June 2010); figures are aggregated on funds, which were disclosed at International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

14 © Lloyd’s Direct Insurance Market* – 2008 Canada57bn US662bn Mexico11bn Brazil25bn Argentina 6bn UK107bn France 92bn Germany132bn Italy58bn Turkey8bn Russia38bn India7bn Saudi Arabia3bn South Africa8bn China45bn Japan106bn Korea31bn Indonesia2bn Australia28bn Size of bubble proportionate to level of total direct market in USD; benchmarked to US (2008) (III ESTIMATE*) Source: *Estimate based on III Fact Book; for detailed statistics and clear market definitions, please refer to the local regulator & Regional Watch: International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

15 © Lloyd’s Direct Insurance Market* – 2000 – 2008 Canada57bn US662bn Mexico11bn Brazil25bn Argentina 6bn UK107bn France 92bn Germany132bn Italy58bn Turkey8bn Russia38bn India7bn Saudi Arabia3bn South Africa8bn China45bn Japan106bn Korea31bn Indonesia2bn Australia28bn Size of bubble proportionate to level of total direct market in USD; benchmarked to US (2008) (ESTIMATE*) Source: *Estimate based on III Fact Book; for detailed statistics and clear market definitions, please refer to the local regulator & Regional Watch: > 200% > 100% - 200% < 100% Premium Growth International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

16 © Lloyd’s US Excess & Surplus Licence Network *See: for detailed access routes + exemptionswww.lloyds.com/crystal Reinsurance only Lloyd's is specifically registered or licensed to write reinsurance business only.* Reinsurance from outside the territory Territories where Lloyd’s is not registered or licensed but can transact cross-border reinsurance business.* Insurance + Reinsurance 52 territories where Lloyd’s is licensed to underwrite insurance and reinsurance business.* International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

17 © Lloyd’s Licence Network 1990 s EU legislation allows Lloyd’s to carry on insurance in other EEA member states on an establishment & services basis 1997 Lloyd’s Japan established 2000 Lloyd’s Asia established 2002 EU establishment licence Spain 2006 Lloyd’s becomes an onshore re-insurer in China 2008 ‘Admitted reinsurer’ status in Brazil and EU establishment licences in Poland and Austria 2009 EU establishment licence in Portugal International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

18 © Lloyd’s Office Network Local underwriting with co-located Syndicates (or via a Lloyd’s regulated entity); Country Manager with Market Development Role Europe 3 Country Manager with Market Development Role 2 Country Representative for regulatory requirements 1 Country Representative for minimum regulatory requirements TypeMarket Development ScopeTerritories Europe Austria, Denmark, Norway, Portugal Argentina, Belize, Chile Namibia, Zimbabwe Cyprus, Greece, Israel, Malta New Zealand South Africa Australia, Hong Kong (SAR) Benelux, France, Germany, Ireland, Italy, Poland, Spain, Sweden, Switzerland Brazil China Japan Singapore North America International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

19 © Lloyd’s Market Development Decision Matrix 1 CANDIDATE TERRITORIES 2 RESEARCH OPPORTUNITIES 3 RESEARCH APPETITE 4 BUSINESS CASE Core Activities involved Building Blocks INITIAL RESEARCH > Global Opportunities INITIAL APPETITE > CEO Survey > LMA / LIIBA EXTERNALOPPORTUNITY > Governments > Regulators FURTHER RESEARCH > Legal & Regulatory Opportunities > Regional Watch RESEARCH VISIT MARKET CONSULTATION > Market Survey > Follow-up with managing agents and brokers MARKET VISIT (if appropriate) BUSINESS CASE > Strategic Fit > Cost / Benefit Case MARKET DEVELOPMENT STEERING GROUP (SG) SG + EXECUTIVE TEAM (ET) ET DECISION ET + FRANCHISE BOARD DECISION Internal Discuss whether to continue Assess mandate to continueLicence decision International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

20 © Lloyd’s Strategic Review From Licences, Coverholders to initiatives… International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

21 © Lloyd’s Strategic priorities  China – subject to Franchise Board approval, pursue China direct licence  India – lobby for recognition of Lloyd’s & ability to write onshore reinsurance Other  Turkey – lobby for ability to do coverholder business on a direct basis  Czech Republic – seek an establishment licence  Hungary – explore options for Lloyd’s to do coverholder business on a freedom of services basis (not service company business)  Asia – Clarify reinsurance coverholder permissions in Asia  Africa – Review licence permissions in Africa Strategic Review: Licences International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

22 © Lloyd’s “..The development of the coverholder channel, subject to proper and appropriate controls, will be a particular area of focus, with the objective of improving both awareness and the efficiency of this distribution channel” (Lloyd’s Strategy 2010 – 2012)  Technology & Standards > We want to improve operational efficiency of the coverholder distribution model through information standards and taking advantage of e-trading opportunities. Technology & Standards  Routes to market > We want to make the route to market for new coverholder business as simple and transparent as possible. Routes to market  Coverholder experience > We want to make life easier for a coverholder to do business with Lloyd’s. Coverholder experience Strategic Review: Coverholder Initiatives International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

23 © Lloyd’s Technology & Standards  Enhance coverholder processes and operations  Continue to roll out common standards (ACORD standards) across delegated authority business in support of a move towards electronic processing  Continue to enhance and promote the use of Lloyd’s coverholder management database (Atlas)  Improve the coverholder claims process Strategic Review: Coverholder Initiatives International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

24 © Lloyd’s Route to Market  IMPROVE ROUTE TO MARKET  Develop improved Lloyds.com content  Develop pre-approval process for new coverholders  Develop new (in country) coverholder intelligence  Create marketing and educational materials for use by brokers, managing agents and Lloyd’s international offices  Develop Lloyd's coverholder directories  Develop European coverholder event in London  Complete market roll out of Atlas Strategic Review: Coverholder Initiatives International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

25 © Lloyd’s Coverholder Experience  IMPROVE Coverholder Experience  Pilot the translation of model delegated authority wordings into local languages  Enhance coverholder branding  Develop coverholder clubs in priority territories:  Develop periodic coverholder e-news letter  Develop coverholder education & training  Develop a coverholder hanbook  Streamline coverholder audit arrangements  Introduce coverholder RM programme Strategic Review: Coverholder Initiatives International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

26 © Lloyd’s New initiatives to support strategy  European coverholder events – new events to attract potential new coverholders and develop existing coverholders  European coverholder / SME events  Marine events, business leader lunches, MBA course presentations  European office offerings – pilot a new service offering to support local cover holders and public tenders, subject to market support  New opportunity focussed intelligence: -  New class of business intelligence and new coverholder intelligence to identify potential coverholders  Benelux – new Lloyd’s office and country manager (see prior slide)  Restructuring of Europe into 3 regions to increase focus on execution of country plans and new initiatives Strategic Review: European Initiatives International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

27 © Lloyd’s New initiatives to support strategy  UK Market Intelligence – develop UK intelligence product (Regional Watch)  Head of UK & Ireland – recruit new manager to develop UK country plan and take forward UK events and promotional initiatives  UK regional events - quarterly regional events to promote Lloyd’s and support MAs wishing to develop their UK portfolio Strategic Review: UK Initiatives International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

28 © Lloyd’s Asia  Singapore – facilitate broader class of business offerings, ensure franchise and underwriting standards applied and upgrade business processes to support subscription market.  Regional promotional events – 360° event in Singapore and promotional events in South Korea & Vietnam China  Develop the platform through new MA participation, new lineslip and product offerings, integrating the new business development team. Ensure franchise and underwriting standards applied. Japan  Develop the platform through new MA participation, new market development group, new office opening and promotional event and facilitating new broker classes of business. Ensure franchise standards applied supported by new IT platform. Strategic Review: Asian Initiatives International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

29 © Lloyd’s New initiatives to support strategy  Russia, Mexico, South Korea & Vietnam – conduct promotional events to raise Lloyd’s profile in these emerging markets  Russia market development visit (Moscow)  Mexico market development visit (Mexico City / Monterrey)  Assess whether there is a business case – for opening a Lloyd’s office in Russia and/or Mexico after these events  New market intelligence – targeted at Lloyd’s brokers for Russia, Mexico, Brazil and Middle East  Middle East – we will look again at what is going on this region in the second half of the year Strategic Review: Emerging Markets International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

30 © Lloyd’s 2010 Strategic priorities  IT systems and business processes – new Japan IT system and business processes to support growth in the platform and new management information system for China.  Lloyd's Single Global IT Network – connect 4 offices to global IT network (South Africa, Sweden, Benelux, and TBC)  Franchise standards – ensure standards are applied in China, Japan & Singapore  Key person dependency – ensure continuity if country manager absence  European office model – streamline Italian office services and use new enhanced processes in other countries Strategic Review: Operations International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

31 © Lloyd’s Strategic Review: Broker Relationship  Ask the brokers where we can help them and add value  Gather structured broker feedback also from country managers to understand broker distribution strategies and issues  Develop insight on key strategic issues for ‘top 30’ brokers  Develop relationships with brokers outside the ‘top 30’  Maintain and develop Lloyd's relationship with LIIBA  Establish steering group to develop a plan and implement the distribution deliverables of the Strategic Plan  Manage the registration process for new Lloyd's Brokers  Support inwards visits by key (re) insurance clients International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

32 © Lloyd’s Promotional activity & events  360°Events – London & Singapore (>  Class of business events  Coverholder focused events & initiatives  Industry speeches, business leader lunches / dinners  Promotion of Lloyd’s at key Industry events  Insurance Institute / MBA presentations  Inwards broker & cedant visits  Opportunity focused presentations to agents & brokers (> Strategic Review: Promotional activity International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

33 © Lloyd’s Making it easier to do business at Lloyd’s  New promotional materials:  Broker & coverholder marketing collateral  Regional & country brochures  E-news letters  Coverholder directories  Local language websites & relevant marketing materials  New Market Intelligence for brokers – for Mexico, Russia, Brazil and the Middle East (> Strategic Review: Promotional Materials International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

34 © Lloyd’s Market Development Factors From Market Intelligence to Events… International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

35 © Lloyd’s Key Factors of market development Licence Network Hard Factors Soft Factors Market Development Office Network Market Intelligence Events Programme Coverholder Initiatives CEO Survey Broker Relationship Management International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network 1 Compare Countries 2 Country Profiles 3 Market Presentations 4 Regional Watch

36 © Lloyd’s Market Intelligence Team TEAM OF ANALYSTS LOOKING AT INSURANCE MARKETS FROM A GEOGRAPHIC PERSPECTIVE > REGIONAL ACCOUNT MANAGER Relationship manager with Lloyd’s Head / Country Manager - Filip Wuebbeler: Benelux, France, Germany, Poland, Nordic Area - Govind Ratnam: South Africa, China, Japan, Singapore, Australia, Hong Kong, Ireland - Bruno Davila: US, Canada, Brazil, Chile, Italy, Spain - Alex Milne: Switzerland, UK > EVENTS SUPPORT Support Lloyds international events. > Provide and enhance world class market intelligence. > Develop an understanding of Lloyd’s market’s strengths and weaknesses in key territories. > Business partner to Managers. > Maintain and develop intelligence with regional focus. > Support Lloyd’s visits, briefings (supporting Chairman’s Briefing in conjunction with Events Team) and supporting Market Events with Presentations on their key territory. > Playing a leading role in Lloyd’s Market Development Agenda by working with colleagues to identify new licence opportunities and prepare business cases for licence and office development. ANALYSIS AND ADVICE REGIONAL FOCUS LICENCE DEVELOPMENT > CROSS FUNCTIONAL DEVELOPMENT TEAMS Work with cross-functional teams to develop Lloyd’s Market Development Agenda. > WORLD CLASS MARKET INTELLIGENCE Provide and enhance world class market intelligence to Lloyd’s > BUSINESS PARTNER Act as a business partner to Heads and Country Managers. International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

37 © Lloyd’s Market Intelligence Account Managers GR FW Filip Wuebbeler Europe Account ManagerTerritories Europe Switzerland UK Benelux, France, Germany, Poland, Nordic Region BD China Japan Singapore, Australia, Hong Kong (SAR)South Africa Ireland GR Govind Ratnam BD Bruno Davila Italy, Spain Brazil US, Canada AM Alex Milne AM FW International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

38 © Lloyd’s COMPARE COUNTRIES 1 Compare Countries provides high level statistics for the economy, insurance market and Lloyd's business to compare countries worldwide and by region. > Market Intelligence Products (November 2010) Heat map of key indicators Benchmarking tool Easy to use GDP2015 GDP 2010 Population2015 Population 2010 GDP per capita2015 GDP per capita Insurance Market /2009 Insurance Market /2009 Non-Motor Market /2009 Brokered Marker Lloyd’s Premiums 2009 Lloyd’s Premiums To be launched in November 2010 International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

39 © Lloyd’s Market Intelligence Products (November 2010) COUNTRY PROFILES 2 Country Profiles are 5-page summaries of key economic, insurance and Lloyd’s business for 39 individual territories. > Summary fact sheets on 39 territories 1-page overview of insurance market 1-page guide to Lloyd’s premiums and licence 01 Key indicators and map of country 02 Main trading partners 03 Nat Cat Summary 04 Key Insurers 05 Business Class Summary 06 Insurance Environment Overview 07 Lloyd’s Premium Profile 08 Lloyd’s Office Details 09 Links to available Market Intelligence To be launched in November 2010 International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

40 © Lloyd’s Market Intelligence Products (Live) 01 Summary of key economic trends 02 Highlighting key issues 03 Landscaping the economy 04 Key trends in insurance markets 05 Update on profitability 06 Highlighting growth areas 07 Lloyd’s Premium Profile 08 Summary of Lloyd’s events 09 Highlighting opportunities for Lloyd’s MARKET PRESENTATIONS 3 Market Presentations contain insights offered by Lloyd’s Country Managers on opportunities and challenges for Lloyd's in their markets. > Local intelligence Key opportunities & challenges Lloyd’s activities International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

41 © Lloyd’s Market Intelligence Products (Live) 01 Dashboard of hard and soft intelligence 02 Downloadable as a PowerPoint presentation 03 Frequent updates where appropriate 04 Business Class Trends 05 Latest Profitability Figures 06 Summary of Key Trends 07 Company Profiles 08 Local Market Issues 09 Financial Highlights REGIONAL WATCH 4 Regional Watch is an interactive database for Managing Agents only which includes intelligence on key players, business classes and distribution. > Interactive database for 70+ markets Class of Business trends for key markets Key players analysis for key markets ©Lloyd’s FR: Soft Intelligence by class Total MAT GWP in million EUR SOURCE: Premium figures are based on: CEA,“European Insurers in figures”, (October 2009); Miscellaneous based on Legal Expenses + (Total figures–Motor–MAT–Accident & Health–Motor–Property–Liability); all figures in constant EUR MAT Disclaimer Back To >Premium Dashboard Back To >Content Headlines: The French market for marine, aviation, transit and space business is the fourth largest and among the most international in the world. Axco estimates that the French market insures the interests of up to 5,000 vessels under foreign flags belonging to 500 ship- owners in 50 countries. The market has its own policy wordings and clauses, although these are similar to London's with the important exception that, as stipulated in the Code des Assurances, the burden of proof is upon the insurer ,000 1,500 2, International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

42 © Lloyd’s COMPARE COUNTRIES 1 Compare Countries provides high level statistics for the economy, insurance market and Lloyd's business to compare countries worldwide and by region. > Market Intelligence Products (November 2010) COUNTRY PROFILES 2 Country Profiles are 5-page summaries of key economic, insurance and Lloyd’s business for 39 individual territories. > MARKET PRESENTATIONS 3 Market Presentations contain insights offered by Lloyd’s Country Managers on opportunities and challenges for Lloyd's in their markets. > REGIONAL WATCH 4 Regional Watch is an interactive database for Managing Agents only which includes intelligence on key players, business classes and distribution. > Heat map of key indicators Benchmarking tool Easy to use Summary fact sheets on 39 territories 1-page overview of insurance market 1-page guide to Lloyd’s premiums and licence Local intelligence Key opportunities & challenges Lloyd’s activities Interactive database for 70+ markets Class of Business trends for key markets Key players analysis for key markets To be launched in November 2010 International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

43 © Lloyd’s Market Intelligence vision “Providing world class market intelligence on the world’s insurance markets”  2010 Priorities > Building intelligence on the UK shared via Regional Watch > Opportunity focused Market Presentations from Lloyd’s Country Managers > 4 In Market Visits in European territories to build & share intelligence > Building intelligence to better capture profitability of business classes International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

44 © Lloyd’s Events Programme  Increase support and coordination from London – in partnership with the Market  Providing a broad range of local promotional events  Greater ownership by the Country Manager Number of events  2008 – 58  2009 – 73 (+26%)  2010 – 148 (+103%) H Events Programme:  Increased focus on Market Presentations  Past Market Presentations can be accessed: > Future Market Presentations: see next slide for schedulewww.lloyds.com/marketpresentationsnext slide for schedule > Meet the Market Event > Class of Business Event > Third Party Event > Inwards Promotional Event > Coverholder Networking Event Click any box for detail International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

45 © Lloyd’s Market Presentations  2H 2010 Market Presentations (45 minutes – 60 minutes)  Hong Kong:SEE:  Italy:SEE:  France:SEE:  China: SEE:  Brazil:26 October :00 PM, Lloyd’s Gallery 11, PR 2 & 3  South Africa:16 November :30 AM, Lloyd’s Gallery 11, PR 3 & 4  Switzerland:07 December :30 PM, Lloyd’s Gallery 11, PR 3 & 4  Japan:14 December :30 AM, Lloyd’s Gallery 11, PR Invites will be sent out to all Lloyd’s Brokers and Managing Agents 3 weeks prior to the event. > If you want to pre-register your attendance, please International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network (CHANGE)

46 © Lloyd’s “Meet the Market Event” ‘A Lloyd’s hosted full day event that promotes and raises the profile of the Lloyd’s Market within the local market. A key aspect of this event is the replica of the Lloyd’s Underwriting Room – Boxes are available for MAs, CHs and Lloyd’s Brokers to host and meet with the local market’ Event Programme (Spanish Insurance Week) Opening Round table: Kidnap & Ransom. Legal framework and Practical Examples, Point of view: Insured, Legal Expert, Negotiator and Insurer Coffee Break Round table. Medical Malpractice. Experience and solutions, Point of view: Doctor Legal Expert & Insurer Closing remarks and cocktail REPLICA OF THE UNDERWRITING ROOM At the same time, there will also be a room with an estimate of 30 networking tables, where CH, MA and Lloyd's brokers could meet the main Spanish players. Lloyd's Iberia helped organise the meetings. International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

47 © Lloyd’s “Class of business Event” ‘A Lloyd’s hosted full or half-day event that promotes and raises the profile of the Lloyd’s Market and a specific class of business (or coverholder model) within the local market’ Event Programme (Hamburg) 15.00Coffee and registration 15.45Introduction by Volker Eutebach (Lloyd’s Market Relations Manager for Germany and Austria) 15.50Keynote speech – Jose Ribeiro (Lloyd’s Director, International Markets) 16.10Lloyd's update – Volker Eutebach 16.40Neil Roberts (LMA) - Developments in the London Marine Market 16.50Coffee break Simon Stonehouse, Brit Syndicates Ltd. (Marine Hull Underwriter and Chairman of the Joint Hull Committee) 17.25Nicholas Schymyck, R J Kiln & Co. (Head of Research and Development) 17.50Finish (closing remarks from Volker Eutebach) 18.00Cocktail reception / Networking Session (possible branded tables) International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

48 © Lloyd’s “Third Party Event” (supported by Lloyd’s) ‘‘Lloyd’s presence and involvement at events organised by third parties (typically industry associations and bodies). There are three broad categories of involvement at third party events; Sponsorship (of an event or part of an event), Speaking or presentation slot and Lloyd’s function during or alongside an event (e.g. reception, dinner or lunch)’ Event Programme (AMRAE) Day – Conference opens (Lloyd’s hospitality suite available for Lloyd’s Managing Agents, Coverholders and Brokers to use throughout the event for meetings) 19:30 – 21:00 Richard Ward Dinner, with key Senior French Brokers 21:00 – 22:00 AMRAE official cocktail party Day 2 08:30 – 09:30 Richard Ward Breakfast, with key Risk Managers 10:00 – 11:00 Press conferences in Lloyd’s suite 11:30 – 12:30 Lloyd’s Cocktail Reception and Richard Ward’s welcoming Use of the hospitality suite throughout the event for meetings (MA’s, Coverholders, Lloyd’s) International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

49 © Lloyd’s “Inward Promotional Visit” “A Lloyd’s-hosted full or half-day event that showcases and promotes the Lloyd’s brand to a select group of local industry stakeholders to include” Event Programme (Irish Insurance Institute Visit to Lloyd’s) 11.30Group Arrival at Lloyd's Reception (Met by CM & Phil McCarthy) followed by registration (collect business cards from delegates) Keynote Welcome (Given by Chairman / CEO / Director or Country Manager if none in attendance/if appropriate) Official Tour of Lloyd's Presentation on Lloyd’s by CM and/or Market Development team Buffet Lunch (with selected guests from Lloyd’s market, as appropriate) Presentation by Lloyd’s Market stakeholder Presentation on Lloyd's Regulatory Environment (if appropriate) 15.00Formal Close by CM International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

50 © Lloyd’s “Coverholder Networking Event” “A Lloyd’s hosted event with CM presentation for local Lloyd’s Coverholders, which aims to support our Coverholders by providing a networking platform to discuss areas of mutual interest and share experiences” Event Programme (Ireland Coverholder Launch Event) Guest arrival/introductions Welcome by CM followed by PowerPoint Presentation in Boardroom (Inc. Key messages, Lloyd’s overview in region, how local Lloyd’s office can assist CH, etc) Keynote speech by Jose Ribeiro (Inc. Key messages, Lloyd’s Strategic Plan and focus on Coverholders) Photo Presentation to Lloyd’s Coverholder by CM/JR Lunch buffet – extended networking session Formal close by CM Programme 15.00Formal Close by CM International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

51 © Lloyd’s Managing Agent Appetite 2009 Source: Market Survey 2009 – Based on feedback from 38 Managing Agents and 19 of the top 30 Brokers Feedback from 2009 Managing Agent and Broker CEO Survey – Developing Vs. Established Markets Developing Markets Russia South Korea Vietnam India Mexico Turkey Middle East ACTIVE IN COUTNRY, STRONG INTEREST IN DEVELOPING BUSINESS NOT YET ACTIVE IN COUNTRY, VERY INTERESTED IN LLOYD'S PRESENCE AND ITS DEVELOPMENT New licence development and office decisions are driven be the interests of the market Research and development decisions are driven by MA and Broker interest Market Intelligence focus is on those territories where Lloyd’s is established with a physical presence… Established Markets Poland Portugal Austria Netherlands Switzerland Germany Ireland Nordic Region France Spain Italy UK USVI China South Africa Japan Brazil Hong Kong Illinois Kentucky Singapore Canada Australia ACTIVE IN COUTNRY, STRONG INTEREST IN DEVELOPING BUSINESS NOT YET ACTIVE IN COUNTRY, VERY INTERESTED IN LLOYD'S PRESENCE AND ITS DEVELOPMENT …And also those developing countries where Lloyd’s has no presence Market Intelligence aims to provide a platform for analysis and discussion on both established and developing countries International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

52 © Lloyd’s Managing Agent & Broker Appetite 2009 Source: Market Survey 2009 – Based on feedback from 38 Managing Agents and 19 of the top 30 Brokers Feedback from 2009 Managing Agent and Broker CEO Survey – Europe Managing Agents’ Development InterestsManaging Agents’ Distribution Interests Brokers’ Development Interests Brokers’ Distribution Interests Portugal Netherlands Poland Switzerland Austria Ireland France Italy Spain Germany Nordic Region UK Interested in developing business as a wholesale brokerInterested in developing coverholder business Interested in other development (e.g. retail dev, local office) Ireland Poland Spain Italy Switzerland Portugal UK Austria France Germany Netherlands Nordic Region Interested in developing brokered businessInterested in developing coverholder business Interested in setting up a service company Poland Portugal Austria Netherlands Ireland Switzerland Germany Nordic Region France Spain Italy UK Active in country, strong interest in developing business Not yet active in country, strong interest in entering the market Austria Switzerland Poland Portugal Netherlands Ireland Italy Germany Spain France Nordic Region UK Active in country, strong interest in developing business Not yet active in country, strong interest in entering the market International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

53 © Lloyd’s 2010 Priorities From Licence Development to Market Visits… International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

54 © Lloyd’s 2010 Priorities – Licence Development Czech Republic EXPLORE: COVERHOLDER LICENCE Seeking and Establishment Licence for conducting coverholder business Turkey LOBBY: DIRECT BUSINESS ON EU BASIS Lobby for ability to do coverholder business on a direct basis. > …summarises Lloyd’s current global licence positions > Europe Hungary EXPLORE: COVERHOLDER LICENCE Explore options for conducting coverholder business International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

55 © Lloyd’s 2010 Priorities – Licence Development India LOBBY: LLOYD’S RECOGNITION Lobby for Lloyd's recognition & ability to write onshore Reinsurance business Africa REVIEW: LICENCE POSITIONS Review licence permissions in key territories. China EXPLORE: DIRECT LICENCE Clarify direct operating model options & evaluate options and assess market appetite for options Asia Pacific REVIEW: COVERHODLER LICENCE POSITIONS Clarify RI coverholder permissions > …summarises Lloyd’s current global licence positions > IMEA > Asia Pacific International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

56 © Lloyd’s 2010 Priorities – Market Visits Russia CONDUCT: MARKET DEVELOPMENT VISIT Establish Market Development Group and conduct market development visit with Lloyd’s Market Participants South Korea CONDUCT: PROMOTIONAL VISIT Promotional visit with regional participation (e.g. Hong Kong & Singapore.) Mexico CONDUCT: MARKET DEVELOPMENT VISIT Establish Market Development Group and conduct market development visit with Lloyd’s Market Participants (depending on appetite) > …lists Lloyd’s Events by date & location > Emerging Markets Vietnam CONDUCT: PROMOTIONAL VISIT Promotional visit to raise Lloyd’s profile Seminars / Networking Opportunities with local market participants International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

57 © Lloyd’s 2010 Priorities – Market Intelligence North America REGIONAL WATCH MONTHLY UPDATES California, Texas, New York, Florida, Illinois, Kentucky REGIONAL WATCH QUARTERLY UPDATES Pennsylvania, New Jersey, Georgia, Louisiana, South Carolina MARKET PRESENTATIONS Canada & US Latin America REGIONAL WATCH MONTHLY UPDATES Brazil & Mexico REGIONAL WATCH ANNUAL UPDATES Argentina, Venezuela, Colombia, Chile & Peru MARKET PRESENTATIONS Brazil Europe REGIONAL WATCH MONTHLY UPDATES Germany, France, Italy, Russia, Spain, Netherlands, Poland, Sweden, Switzerland, Norway, Austria, Denmark, Finland, Ireland REGIONAL WATCH QUARTERLY UPDATES Turkey, Belgium, Greece, Czech Republic, Romania, Israel, Hungary MARKET PRESENTATIONS All Type 3 Offices IMEA REGIONAL WATCH MONTHLY UPDATES South Africa REGIONAL WATCH QUARTERLY UPDATES India, Saudi Arabia, UAE, Qatar, Bahrain REGIONAL WATCH ANNUAL UPDATES Iran, Nigeria, Algeria, Pakistan, Kuwait, Egypt, Bangladesh, Kenya, Sri Lanka MARKET PRESENTATIONS South Africa Asia Pacific REGIONAL WATCH MONTHLY UPDATES Japan, China, Australia, Hong Kong, Singapore REGIONAL WATCH QUARTERLY UPDATES South Korea, Vietnam REGIONAL WATCH ANNUAL UPDATES Indonesia, Taiwan, Thailand, Malaysia, Philippines, New Zealand, Macao MARKET PRESENTATIONS All Type 3 & Type 4 Offices NEW MARKET INTELLIGENCE MARKET PRESENTATIONS Develop new opportunity-focussed presentations by Country Managers IN MARKET VISITS Develop new class of business intelligence in 4 European markets BROKER INTELLIGENCE Develop new market intelligence for brokers on key emerging markets. UK REGIONAL WATCH Develop a UK Regional Watch product for publication > …lists all Market Intelligence products International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

58 The detailed country-level Lloyd’s data used in this document is based on calendar year signed gross premiums sourced from Xchanging. This differs from the Lloyd’s data published in the Annual Report. The accounting-level Lloyd’s data published in the Annual Report is based on calendar year written gross premiums sourced directly from Syndicates. Differences are therefore explained by (1) the timing differences between written and signed gross premiums and (2) inconsistent use of rates of exchange between Syndicates and Xchanging. Please note the information contained in this document is based upon data collected from Xchanging and may be incomplete for some classes of business; for instance a substantial figure, which is missing from the REG 258 data set is comprised of UK Motor, which is not processed by Xchanging. Lloyd’s figures are based on gross signed premiums based on figures processed by Xchanging by processing year and country of origin. Gross Premiums: Original and additional inward premiums, plus any amount in respect of administration fees or policy expenses remitted with a premium but before the deduction of outward reinsurance premiums. Country of Origin: Denotes the country from where demand for the insurance / reinsurance emanates; i.e. the coverholder or policyholder, irrespective of the country to which the risk is classified for regulatory reporting purposes. Processing Year: Relates to the calendar year in which the premium, additional or return premium is processed by Xchanging, irrespective of the actual underwriting year of account of the risks (which is determined by the inception date of each risk). Example: A policy holder in the UK insuring a holiday home in France would be classified as a UK risk by “Country Of Origin”, but “French” for regulatory reporting purposes. Similarly a risk incepting on 1st December 2007 would be classified at 2007 “Underwriting Year of Account” but may not be processed by Xchanging until 2008 and so be allocated to the 2008 “processing year”. Disclaimer “This 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 contained in this document". International MarketsLicence NetworkMarket IntelligenceEvents ProgrammeBroker RelationshipCEO SurveyCoverholder InitiativesCONTENTOffice Network

59 © Lloyd’s


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