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ACE GROUP Union of Myanmar Federation of Chamber of Commerce and Industry & The United States Chamber of Commerce US-Myanmar Economic Relations: The Path.

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Presentation on theme: "ACE GROUP Union of Myanmar Federation of Chamber of Commerce and Industry & The United States Chamber of Commerce US-Myanmar Economic Relations: The Path."— Presentation transcript:

1 ACE GROUP Union of Myanmar Federation of Chamber of Commerce and Industry & The United States Chamber of Commerce US-Myanmar Economic Relations: The Path Forward Yangon, Myanmar February 25, 2013

2 Who We Are:  The world’s eighth-largest multiline Property & Casualty insurer, based on market capitalization of US$27.2 billion.*  A truly global company, with local operations in 53 countries.  Insurance is our only business – commercial and personal P&C, Personal Accident, Supplemental Health, Reinsurance and Life.  ACE Limited, parent company of the ACE Group, is listed on the New York Stock Exchange (NYSE: ACE) and is a component of the S&P 500 index.  Exceptional financial strength, managing risk conservatively in both underwriting and investing.  Core operating insurance companies are rated “AA-” (Very Strong) for Financial Strength by S&P and “A+” (Superior) by A.M. Best. * As of December 31,

3 Myanmar: Insurance, Society & Economy 3

4 Ways Insurance Helps Promote & Protect Economic Growth: Encourages and Marshall’s national savings Spreads Risk and Reduces Volatility Compliments and/or Substitutes Government Social Security Schemes (taking pressure off of government-funded schemes) Makes Trade, Investment and Commerce possible (Particularly International) Enhances private and public organizations’ risk management Protects individual and corporate assets, attracts capital and sustains infrastructure development Provides much-needed protection and capital following natural catastrophes e.g., 2008 Cyclone Nargis which caused over US$10 Billion in damages 4

5 Ways Insurance Helps Promote & Protect Economic Growth: Savings -Mechanisms for personal savings e.g., Endowment Policies, etc. -Mechanisms for protecting personal savings e.g., Credit Life, Term Insurance Stabilizes Organizations & Enhances Competitiveness -SME Segment: Efficient, streamlined insurance products protect assets, liabilities and employees e.g., Property (Fire), Third-Party Liability & Workers Compensation -Export Segment: Trade Credit Insurance; Marine Cargo Insurance and Export Products Liability to facilitate the export of goods & services -Banking & Financial Services Sector: Banker’s Blanket Bond (BBB); D&O; Electronic & Computer Crime (ECC); Financial Institutions Professional Indemnity -Corporate & Individual: Life Insurance e.g., Key-Man -Corporate & Individual: Accident & Health; Hospital Income; Critical Illness; Overseas Student Assistance & Travel Insurance products protect & supplement expenses 5

6 THANK YOU ACE Life 6


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