Financiers Insurance Due Diligence 2008

Financiers’ insurance due diligence

Distinctive. Choice.

CONSTRUCTION

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JLT is an international group of Risk Specialists and

Employee Benefits Consultants and one of the largest

of its type in the world. We offer a distinctive choice

to our clients and partners through our combination

of independence, scale and specialism.

As an independent business, we are able to operate

with autonomy and flexibility. We have the scale to

provide solutions to the complex demands of the world’s

leading companies and to deliver global servicing whilst

recognising that the needs of each of our clients is unique.

By developing highly specialised services, we provide our

clients with a depth of expertise and experience.

The value we create is driven through the personal

determination of our 6,200 highly motivated and

skilled people.

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JLT has a dedicated unit specifically designed

to cater for the needs of lenders and ECAs in

connection with the limited and non-recourse

financing of projects. Our Financiers’ Insurance

Due Diligence team has been providing advice

since 1995, enabling our consultants to gain

immense experience with many diverse

projects. Our consultants are multi-disciplined

across power, energy, natural resources,

infrastructure and PPP/PFI projects around

the world.

Our key objectives in providing insurance due diligence

advice are:

• to provide specialist and experienced personnel to review,

assess and monitor the risk transfer process

• to help ensure the insurance requirements of the loan

agreement, throughout the construction and operational

phases, are suitable and robust

• to check that the insurance requirements, including the

credit rating of the insurers, are met, or any shortfalls

notified to the financiers and dealt with appropriately

• to minimise the commercial risk to the financiers, by

checking that the key project exposures are optimally

insured and financiers’ insurable interests are protected to

the maximum available extent required

• to reduce the workload of the financiers and their legal

advisers, in the insurance and risk management field.

The direction of due diligence

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JLT has developed a successful formula for

servicing the needs of financiers of limited and

non-recourse projects. We have the necessary

experience to respond to the insurance

demands of a project finance transaction,

pre- and post-financial close and any

re-financing, including:

• risk and insurance analysis – we identify the insurable and

uninsurable risks faced by the project participants

• contract analysis – our review of the project and financing

documentation and identification of risk ensures the

insurance arrangements address such risks and are

consistent and achievable

• the approach to insurance of the concessionaire and the

award body – we can assist with the negotiation of

insurance cost sharing and future uninsurability provisions

• advising on the extent of risk transfer available within the

traditional and non-traditional insurance markets

Experience

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• working with legal, technical and other advisers with regard

to the insurance requirements of the loan agreement

• meeting tight deadlines – we deliver quality reports

incorporating confirmation that the insurance conditions

precedent have been met

• the syndication process – we can assist as required with

information memoranda and speak at syndication

presentations.

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It is vital for financiers

to be secure in the

knowledge that the

borrower’s insurance

programme optimises

cover for project risks


The Financiers’ Insurance

Due Diligence team

comprises consultants

who have worked on more

than 400 separate project

financed transactions


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Projects located in Argentina, Austria, Bahrain,

Belgium, Bolivia, Brazil, Bulgaria, Chile, China,

Colombia, Cyprus, Czech Republic,

Dominican Republic, Estonia, Egypt, France,

Germany, Greece, Hungary, Iceland, India,

Indonesia, Italy, Ireland, Jordan, Laos,

Malaysia, Mauritania, Mexico, Netherlands,

Nigeria, Norway, Oman, Pakistan, Peru,

Philippines, Poland, Portugal, Qatar, Saudi

Arabia, Spain, South Africa, South Korea,

Sweden, Russia, Taiwan, Thailand, Trinidad &

Tobago, Tunisia, Turkey, UAE, Uganda,

Vietnam and the United Kingdom.

• over 125 UK PFI healthcare, transportation, schools,

prisons/police/judiciary housing, accommodation and

leisure projects

• over 55 power projects (several involving portfolios of up to

21 separate IPPs)

• over 20 road projects

• over 42 wind power projects (including seven offshore)

• over a dozen oil and gas, LNG, petrochemical and

pipeline projects

• over 10 airport projects

• eight wastewater projects

• nine space/satellite projects

• various other light rail and railway projects, submerged

tube tunnels, steel plants, cement plants, aluminium

smelters, pulp mills and mining projects.

Whilst all due diligence is undertaken in English, within

the team we have speakers of French, Italian, Spanish,

Bengali and Hindi.

Project profile of due diligence


• ABN AMRO

• Ambac

• Barclays Bank PLC

• Banco BPI

• Banco Espirito Santo

• Bank of Ireland

• Bank of Scotland (HBOS)

• BNP Paribas

• BayernLB

• Calyon

• Citibank

• Corporación Andina de Fomento

• Den norske Bank

• Depfa

• Deutsche Bank

• Dexia Public Finance Bank

• EIB

• Fortis

• FSA

• Helaba

• HSBC

• HVB/Unicredit

• ING

• JBIC

• KBC

• KfW

• Lloyds TSB Bank

• Macquarie Bank

• MBIA Assurance SA

• Millennium BCP

• Mizuho

• NIB Capital Bank

• Prudential M&G

• Royal Bank of Scotland

• Samba

• SG

• SMIF

• Standard Chartered

• West LB

• XL

Our clients include

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SOLID PMS289 BLUE OR DIVISION COLOUR AS PER COLOUR STRIP ON OUTSIDE COVER


JLT is an international group of Risk Specialists and

Employee Benefits Consultants and one of the largest

of its type in the world. We offer a distinctive choice

to our clients and partners through our combination

of independence, scale and specialism.

As an independent business, we are able to operate

with autonomy and flexibility. We have the scale to

provide solutions to the complex demands of the world’s

leading companies and to deliver global servicing whilst

recognising that the needs of each of our clients is unique.

By developing highly specialised services, we provide our

clients with a depth of expertise and experience.

The value we create is driven through the personal

determination of our 6,200 highly motivated and

skilled people.


JLT Specialty Limited

6 Crutched FriarsLondon EC3N 2PHTel +44 (0)20 7528 4000Fax +44 (0)20 7528 4500www.jltgroup.com

Lloyd's Broker. Authorised and Regulated by the Financial Services Authority. A member of the Jardine Lloyd Thompson Group. Registered Office: 6 Crutched Friars, London EC3N 2PH. Registered in England No. 01536540.VAT No. 244 2321 96

© January 2011 263001

CONTACTS

Martin Benatar (Team Leader)Tel: +44 20 7558 3988Mobile: +44 7920 586 [email protected]

Warren Beardall Tel: +44 20 7528 [email protected]

Cris BlakeyTel: +44 20 7558 [email protected]

Chris CookTel: +44 20 7528 [email protected]

Vivienne Dell’Aira BromleyTel: +44 20 7558 3768vivienne_dell’[email protected]

Martin DockrillTel: +44 20 7528 [email protected]

Sabbir KhandokarTel: +44 20 7558 [email protected]

Peter SymesTel: +44 20 7528 [email protected]

Team Fax: +44 20 7528 4784


Financiers Insurance Due Diligence 2008

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