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2015 PHC2015 PHC
A Look Inside AEGIS London
Nigel RobertsHead of Broker Relations
AEGIS London
2015 PHC2015 PHC
A Look Inside AEGIS London
Alex PowellActive Underwriter
AEGIS London
2015 PHC2015 PHC
A Look Inside AEGIS London
Matt YeldhamDeputy Active Underwriter and Head of Casualty
AEGIS London
2015 PHC
• 15 years of trading in London
• Underwriting in 182 countries
• Now 19th largest business in Lloyd’s
marketplace (out of 87)
• Originally writing three classes but now more than 20
• Great diversification for AEGIS NJ
• Since 2008 has contributed $262 million
toward policyholder surplus
• Developed in, and continues to be, London-based
The Weigh-in
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
150
200
250
300
350
400
2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
GW
P (
£m
)
Premium and Profitability Development
Pro
fit
Marg
in (
%)
Profit Margin (%) AEGIS GWP (£m)
2015 PHC
• 3rd least volatile underwriting result
over five years
• Combined ratio better than market
average for past five years
• 2012 ROCE = 44%
Top performer in Lloyd’s
• Nine years of continuous profit generation
The Tale of the Tape
60%
70%
80%
90%
100%
110%
120%
2010 2011 2012 2013 2014
Combined Ratio Comparison
Market AY Combined Ratio (%) AEGIS AY Combined Ratio (%)
2015 PHC
The First Bell
2015 PHC
Alex Powell
Title(s): Active Underwriter & Head of Property
Fights: Started in the industry in 1993
KO’s: 15 undefeated years and counting at AEGIS London
Specialty: US property, catastrophe, deductible buyback insurance
ex-broker and card shark
The Red Corner
2015 PHC
Matthew Yeldham
Titles(s): Deputy Active Underwriter & Head of Casualty
• Former semi-professional rugby player
• Market leader for a broad range of industrial casualty risks
• Responsible for the creation of several new wordings
• Reputation as a deal maker and innovator
The Blue Corner
2015 PHC
Orthodox Style
Hull
Specie
Cargo
Power
Utility
Property
Terrorism
Specialty
Upstream
Energy
Liability
Accident
& Health
Reinsurance
2015 PHC
• WTC reconstruction
• Non-appearance of rock stars
• Construction of multi billion dollar deepwater offshore projects
• Satellite launches
• Claude the albino alligator
Southpaw
2015 PHC
• 43% of our business by premium is from the “Big Four”
• Small(er) brokers account for a disproportionately large amount of our book
• 30% of our book is small business (less than $100,000 premium)
• Daily interactions with brokers to discuss strategy, new methods of distribution
• Increased broker merger activity poses challenges (and opportunities) for the future
• Clear AEGIS strategy to support broker distribution
Our Sparring Partners
2015 PHC
• Currently reviewing strategy with Deloitte
• Creating value through profitable growth
• Considering expanding existing classes and developing new ones
• Hiring people / teams when the face fits
• Strategic hire to build new online quote and bind platforms
Future Bouts
2015 PHC
• A consistently profitable part of the AEGIS family
• Providing diversification and “dividend” for the mutual
• Always here to help members
• Proud to be part of a great business
• Looking forward to the future with cautious optimism
The Verdict
2015 PHC
Let’s get ready to rumble!
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