Welcome address lord levene, chairman, lloyd’s. Introduction antonio prida, member of the...

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.

27

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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

29

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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

31

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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

32

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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”.

33

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Questions

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Lloyd’s panel

jose ribeirorichard eliasnick halesantonio prida

Coffee & networking