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Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘
3 November 2010
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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
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-------- 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
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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)
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‘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
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Lloyd’s in Europe
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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
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. !
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
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. !
CHART: Lloyd’s Gross Signed Premiums: by Distribution Types
55%
19%
21%
5% Direct
Facultative
Non-Proportional Treaty
Treaty
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
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. !
CHART: Lloyd’s Gross Signed Premiums: by Distribution Types
Source: Market intelligence based on Xchanging; Gross Signed Premiums (GSP); *Europe defined as territories included in Chart on previous slide
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
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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
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Regional update
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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.
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Key developments in 2011 & Priorities for 2012
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
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Key developments in 2011 & Priorities for 2012
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)
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Key developments in 2011 & Priorities for 2012
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
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Key developments in 2011 & Priorities for 2012
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
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Concluding comments
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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
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Coverholder Workshops
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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)
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Lloyd’s Key messages & Q&A Richard Ward, CEO
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European Regulatory updateAlastair Evans, Head, Government Policy & Affairs