© Lloyd’s Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘ 3...

© Lloyd’s

Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘

3 November 2010

© Lloyd’s

Welcome to Lloyd’s

● Coverholders are a key distribution channel for Lloyd’s - we value your business and support

● Today, we aim to: -

Share information with you - on key Lloyd’s developments, to help you support your clients

Obtain your feedback - to 'help us help you' develop your business

Provide networking opportunities - with other leading European Coverholders and Lloyd’s country managers

Update you on progress – against areas flagged at the 2010 event

© Lloyd’s

-------- Lloyd’s Gallery 11 --------

9.30 – 10.00 Registration and Coffee (PR 2&3)

10.00 – 10.30 Welcome & EU Coverholder Update (PR 2&3)Stephen Moore, Manager Market DevelopmentLloyd’s European Regional Heads

10:30 – 12.15 Workshop Sessions (2 delegate groups do each session in rotation)Chaired by Benno Reischel, Head of Northern Europe, Lloyd’s(each session - 15min presentation + 30min group questions/actions)

Workshop 1 – Branding, Marketing & Education (PR 2)

Stephen Moore, Manager, International Markets

Matt Drage, Marketing & Communications Manager

Workshop 2 – Supporting Technology (PR 4)

Adam Stafford, Head of Electronic Distribution, Market Development

12:15 – 12.45 Workshop Feedback and Recommended Actions (PR 2&3)Feedback from presenters on recommendations / actions

12.45 – 13.00 Lloyd’s Key Messages & Q&A with the CEO (PR 2&3)Richard Ward, CEO, Lloyd’s

13.15 – 14.30 Coverholder & Country Manager Lunch (PR 4 / G11 lobby)G11 lobby with Country Manager Networking Tables Showcasing of the Coverholder Toolkit on ipads will take place

© Lloyd’s

14.30 – 15.15 European Regulatory Update (PR 2&3)

Alastair Evans, Head, Government Policy & Affairs

15.15 – 16.00 Coffee break (G11 Lobby) + Optional Lloyd’s Tour

Showcasing of the Coverholder Toolkit on ipads will take place

--------move to ground floor--------

16.00 – 17.15 Lloyd’s Panel - Q&A Session Open to Market (Captain’s Room)

Peter Montanaro, Head, Delegated Authorities, Lloyd’s (Chairman)

Lloyd’s European Regional Heads

Peter Fitch, Head of Communications

Representative from London MA & Broker

18.00 – 19.00 Lloyd’s Coverholder Drinks Reception (Rostrum, Underwriting Room)

19.00 – 21.30 Lloyd’s Dinner hosted by Jose Ribeiro, Director of International Markets (Captain’s room)

© Lloyd’s

‘What you told us’

1. Streamline data & bordereaux reporting

2. Clarify use of Lloyd’s brand

3. Provide email & newsletter updates

4. Provide promotional material to help explain Lloyd’s

5. Provide local language promotional materials

6. Clarify agent appetite & product offerings

7. Streamline contract renewal – e.g. multi year contracts

8. Reduce confusion between syndicate & insurance co. operations

9. Explain claims developments

… Summary update with your event invite & more detail in the workshops

© Lloyd’s

Lloyd’s in Europe

© Lloyd’s

Lloyd’s European Premium by Class

Lloyd’s data is based on Xchanging “REG 258”, (2010); unaudited figures based on country of origin and processing by calendar year; please refer to Appendix for detailed summary of Lloyd’s Data Limitations. !

Source: Market intelligence based on Xchanging; Gross Signed Premiums (GSP); *Europe defined as territories included in Chart

CHART: Lloyd’s Gross Signed Premiums: in million US$

0

500

1,000

1,500

2,000

2,500

3,000

3,500

4,000

4,500

5,000

5,500

6,000

UK

0

100

200

300

400

500

600

700

800

Franc

eIta

ly

Germ

any

Switzer

land

Nethe

rland

s

Norway

Spain

Irelan

d

Greec

e

Russia

Denm

ark

Chann

el Is

lands

Turke

yIs

rael

Sweden

Belgium

Luxe

mbo

urg

Cypru

s

Austri

a

Portu

gal

Malt

a

Poland

2008

2009

2010

2008

2009

2010

© Lloyd’s

Lloyd’s European Premium by Class

CHART: Lloyd’s Gross Signed Premiums: by Lloyd’s 10


25%

18%

16%

13%

8%

7%

7%

3% 2%1%

Marine

Property (D&F)

Casualty

Property Treaty

Energy

Accident & Health

Aviation

Casualty Treaty

UK Motor

Overseas Motor

Source: Market intelligence based on Xchanging; Gross Signed Premiums (GSP); *Europe defined as territories included in Chart on previous slide

2010 Lloyd’s GSP

US$ 10.4bn

© Lloyd’s

Lloyd’s European Premium by Channels


CHART: Lloyd’s Gross Signed Premiums: by Distribution Types

55%

19%

21%

5% Direct

Facultative

Non-Proportional Treaty

Treaty


2010 Lloyd’s GSP

US$ 10.4bn

© Lloyd’s

Lloyd’s European Premium by Channels


CHART: Lloyd’s Gross Signed Premiums: by Distribution Types


Brokers2010 Lloyd’s GSP

US$ 7.5bn

Coverholders2010 Lloyd’s GSP

US$ 2.9bn

90%

4%6%

41%

25%

29%

5%

Direct

Facultative

Non-Proportional Treaty

Treaty

© Lloyd’s

Importance of pro-actively managing performance of Delegated Authorities

> 2,500 coverholders worldwide (including 200 service companies)

> 6,800 binders worldwide

> 95 applications approved in Europe in 2011

Note: Numbers are based on year of account data

© Lloyd’sEurope: MARKET UPDATE October 200812 Lloyd's International Markets QUICK TOUR12

Strong network of coverholders

Denmark

8

Norway

21 15

Sweden

Netherlands

17

France

44

23

Spain

33

Switzerland

26

GermanyItaly Greece

7

102

Total

Coverholders in Europe

1024

37

Ireland

16 Belgium

Poland

5

Austria

3

UK

675

Source – As at April 2011, includes service companies

© Lloyd’s

Regional update

© Lloyd’s

Key developments in 2011 & Priorities for 2012

Uk & Ireland

Key Developments in 2011 Established the first inwards broker programme for UK regional brokers. Visited approximately 40 new coverholders around the UK Lloyd’s presence for the first time at BIBA, AIRMIC and Expos (with market practitioners!) Lloyd’s played a key role in the inception of the MGAA. First Lloyd’s Event in Northern Ireland.

Priorities for 2012: MANAGING GENERAL AGENTS - develop and influence the progress of the MGAA

COVERHOLDERS – Relationship Management

PROFILE THE LLOYD’S BRAND – continue to generate high profile industry and general business interest in Lloyd’s to promote a better understanding of the Lloyd’s market

REGIONAL BROKERS/BROKER NETWORKS/CLUSTER GROUPS - continue to develop relationships with regional UK brokers either directly or via BIBA/IIB and to encourage more ‘traffic’ into Lloyd’s. For Irish Brokers to view the Lloyd’s Market as a real alternative to the local direct writers

RISK MANAGERS/CEDANTS/CLIENTS/STUDENTS - continue to develop relationships with risk managers/AIRMIC members to promote better understanding of the Lloyd’s market. To undertake educational initiatives to students and / or other interested audiences to raise understanding of Lloyd’s.

MANAGING AGENTS & LLOYD’S BROKERS - facilitate and support managing agents and Lloyd’s brokers in their initiatives in the UK & Ireland and in particular raise awareness of the UK regional market in Lloyd’s.

© Lloyd’s


Uk & Ireland

Major Events 2012:

Inwards Broker/MGA programmes (coverholders are also welcome)

Broker Expos – Coventry and Weybridge

Regional Event – Meet the Market Day – involving local coverholders/service companies.

AIRMIC – Liverpool Conference and workshop; partnership programme - June

BIBA – Manchester Conference and fringe session - May

Ireland – Meet the Market Day 10th May 2012 – Dublin

Ireland – Bloodstock/Class of Business Event

Ireland – Broker Networking Event - September

© Lloyd’s


Southern, Eastern Europe & Africa

Key Developments in 2011

Market Trip to Turkey Russia New Representative in Israel Market development & Events plan successfully delivered in the region

Priorities for 2012:

Russia Turkey Strategy for Arab countries Implementation of strategy for Sub-Saharan region & CEE countries

Major Events 2012: Re-insurance rendez-vous for CEE countries in Poland CEO visit to Turkey & Spain Regional event for Sub-Sahara Country level Meet the Market events (Italy, Spain, Poland, Israel)

© Lloyd’s


Northern Europe

Key Developments in 2011: Enhance presence and visibility

Opened Lloyd’s Benelux office in Rotterdam More Coverholders established in Northern Europe (+37 last 20 months) Demystifying Lloyd’s: EU Broker Access Roadmap in six languages; Class of Business and

Networking Events Launched Claims Workshops: introducing new claims management principles Wording Repository for Binding Authority and Policy Wordings – German pilot launched Launched the Lloyd’s/FERMA Professional Development Programme for risk managers

Priorities for 2012: Focus on profiling Lloyd’s and adding value

Move office in Paris: visible, reachable, usable Ensure continuity of Lloyd’s representation in Germany: introduce new country manager Boost business opportunities in the Benelux Countries: Meet the market – mini Lloyd’s Strengthen the Coverholder network in the Nordic countries: optimizing distribution Explore market development opportunities in Finland: extending our horizon Switzerland and France: regional networking events – going local Promote Austria as regional Lloyd’s platform for Central Europe Research Arctic risks for the shipping and drilling industry: be prepared for tomorrow

© Lloyd’s


Northern Europe

Major Events 2012: All countries: Class of Business (COB) events focusing on capacity demand and Lloyd’s

expertise

France: AMRAE conference; regional networking events

Benelux: Meet the Market in Rotterdam

Germany: Baden Baden reinsurance week

Nordic Region: launch of Lloyd’s Arctic Risk Report

Switzerland: Regional COB and networking events

Chairman’s visits to Germany and France

© Lloyd’s

Concluding comments

● Coverholders are a key part of Lloyd’s distribution network

● We want to support you and your business

● We value your business & knowledge of your markets

● We welcome your feedback

…Do make full use of the programme & networking opportunities

© Lloyd’s

Coverholder workshops

Workshop sessions: 10.40-12.15

● Workshop 1 – Lloyd’s Branding, Marketing & Education (Room 2)

- Stephen Moore, Manager, International Market Development - Matt Drage, Manager, Marketing Communications

● Workshop 2 – Supporting Technology (Room 4)

- Adam Stafford, Head of Electronic Distribution

Feedback session: 12.15-12.45 (Room 2,3)

© Lloyd’s Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘ 3...

Documents

Transcript of © Lloyd’s Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘ 3...