1. Risk management – a journey from the merely unlikely to the totally unpredictable Enrico Bertagna Head of Southern, Eastern Europe & Africa General Representative for Italy II Università di Napoli 15 April 2012

2. WHAT Is lloyd’s?

3. 1400 s 1500 s 1600 s 1700 s 1800 s

4. 16882013 Lloyd’s established

5. 1600 s 1700 s 1800 s 1900 s 2000 s

6. 20131805 Lloyd’s and Nelson

7. 20131800’s Entrepreneurialism in the 19th Century

8. 1600 s 1700 s 1800 s 2000 s 2010 s

9. Lloyd’s is a catalyst for Innovation

10. The motorcar TerrorismAviation Commercial space flight Lloyd’s firsts

11. Other firsts contract Certainty Reinsurance claims academy

12. Role of Insurance In society

13. Lloyd’s insures against natural disasters around the world and its devastating consequences covering everything from injury to property damage Whatever the force of nature

14. Crucial to society

16. Imagine a world Without insurance

17. insurance Is not banking

18. Insurance is pre-funded Banks lend before they borrow

19. Standards Franchise structure Risk Management What we learnt

20. Underwriting discipline

21. 2012 financial results 91,1% Despite claims from superstorm sandy (€ 1,7mld) Profit before tax Combined ratio € 3,41 mld

22. How the market works

24. A dynamic and diverse market As at 31 December 2012, the Lloyd’s market was home to 57 managing agents that manage 87 live syndicates. Source: Lloyd’s Annual Report 2012

25. Market structure Source: Lloyd’s Annual Report 2012 Our unique structure creates a market based on trusted relationships and expertise

26. The risk

27. The broker

28. The underwriters

29. The capital The policy

30. Claims paid

31. The risk The broker The underwriters The capital Claims paid The policy

32. The world is A Risky place… …insurance Understanding risk

33. THE SCIENCE OF RISK

34. Insurance A second pair of eyes

35. Top 10 Risks

36. TOP RISKS REGIONALLY

37. Lowest 10 Risks

38. The Insurers of the future Security Global Reach foresight

40. Lloyd’s to be the global centre for specialist insurance and reinsurance Growing premium income from established markets in line with their economic growth with greater growth in new markets.

41. By 2025 Lloyd’s will be the global centre for specialist insurance and reinsurance A more diversified capital base, with a greater contribution from high growth economies.

42. By 2025 Lloyd’s will be the global centre for specialist insurance and reinsurance A truly internationalised underwriting community.

43. By 2025 Lloyd’s will be the global centre for specialist insurance and reinsurance A broker market, utilising brokers’ international networks.

44. By 2025 Lloyd’s will be the global centre for specialist insurance and reinsurance With powerful overseas hubs in certain major overseas markets.