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12 th Annual Meeting Miami, Florida May 12, 2010 Annual Business Meeting ANTITRUST STATEMENT FOR THE WEATHER RISK MANANGEMENT ASSOCIATION

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12th Annual Meeting

Miami, Florida

May 12, 2010

Annual Business Meeting


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ANTITRUST STATEMENT FOR THE WEATHER RISK MANANGEMENT ASSOCIATION

  • In order to guard against unintentional violations of the antitrust laws, the following topics shall not be discussed at any time during the WRMA meetings, whether as part of a formal meeting, a large group discussion or in any private conversations:

  • Price fixing

  • Exclusionary practices (customer and markets)

  • Other discussions or agreements resulting in restraint of trade

  • The principal federal antitrust law is a criminal conspiracy statute.

  • Violators can be subject to mandatory jail terms. For your own protection and that of WRMA, compliance with these discussion rules is mandatory.


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2009/2010 Year in Review Highlights

North America

  • WRMA delegation visited Congress to educate about the weather risk industry in face of financial reform legislation

  • Continue to reach out to associations and end-users to educate them about our industry

    - Continue to liaise with NOAA


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2009/2010 Year in Review Highlights

Europe

  • Held successful meeting in Paris, France

  • Continue to monitor EU directives impacting industry (IASB)

  • Broadening our reach to include new entrants


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2009/2010 Year in Review Highlights

Asia/Pacific

  • Completed first industry survey of Indian weather market

  • Outreach to the burgeoning Australian weather industry

  • Hosted Chinese delegation of meteorologists


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2009/2010 Year in Review Highlights

  • Overall Industry

    - Developed improved weather risk and agriculture section on WRMA website

    - Publish WRMA weekly news summary for members only

    - New enhanced Industry Survey in development

    - Monitor outcome of Supreme Court decision

    - Continue to update website, highlighting member company news

    - Plans underway for 2010 meeting in Australia


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2009/2010 Year in Review Highlights

WRMA in the News

WRMA and WRMA members have been subjects of news stories on:

  • Environmental Finance

  • Energy Risk, Risk & Insurance

  • The Public Ledger

  • The Australian, Business Review Weekly

  • Bloomberg,

  • RIMS Magazine

  • Farm Journal’s Top Producer

  • World Finance

  • Storm Investor and Reuters.


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Treasurer’s Report

WRMA remains financially sound


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Treasurer’s Report

  • Statement of Activity 2009:

    12/31/09Budget

  • Revenue $262K $239K

  • Expense $297K$261K

  • Budget net loss $($35K) $($23K)

  • Net Assest 2008 $168 $168

  • Total Net Assets $134K $145K


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Treasurer’s Report

  • Income Statement Summary:

  • Budgeted 2010 Revenues $281K

  • Budgeted 2010 Expenses $267K

    1/1/03 - 3/31/03

  • Actual 1Q 2010 Revenues $20,953

  • Budgeted 2010 Revenues $281K

  • Actual 1Q 2010 Expenses $42K

  • Budgeted 2010 Expenses $267K


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WRMA’s 12th Annual Meeting

Election of Directors


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WEATHER RISK MANAGEMENT ASSOCIATION2010/2011 SLATE OF DIRECTORS

  • Nominating Committee: Marty Malinow, Kendall Johnson and Sandeep Ramachandran

  • Request for Nominations went to the Membership for input

  • Committee Reviewed nominations received in conjunction with the composition of membership in terms of:

    • industry sector

    • geographical representation

    • overall stakeholder in industry

    • Based on the above criteria, the following is the proposed slate:


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WRMA 2010/2011 SLATE OF DIRECTORS

Remaining as Directors for terms of one year:

Director Catherine Besselman Endurance Re

Director Peter Brewer PCE Investors/Cumulus

Director Sandeep Ramachandran Swiss Re

Elected as Directors for terms of one year:

Director Nick Ernst Evolution Markets

Director Larry Heitkemper MDA EarthSat Weather

Proposed Two-Year Terms:

Director Jens Boening EDF Trading

Director Richard Betts E.ON Energy Trading

Director Stephen Doherty Speedwell Weather Derivatives

Director Christina Hanson Chicago Mercantile Exchange

Director Martin Malinow Galileo Weather Risk Management

Director Bill Windle RenRe Energy Advisors Ltd.


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WRMA 2010/2011 SLATE OF DIRECTORS

In accordance with the bylaws, the Directors will elect

from among themselves the Officers. The proposed slate of Officers from the new Board of Directors are:

Proposed Officers:

President

Bill Windle, RenRe Energy Advisors Ltd.

Vice President

Christina Hanson, Chicago Mercantile Exchange

Treasurer

Sandeep Ramachandran, Swiss Re

Past President

Martin Malinow, Galileo Weather Risk Management


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The PR Motto for 2010 is Grow the Business


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WRMA PR 2009-2010Media Coverage

Over the past 12 months, WRMA has successfully pitched stories to journalists around the world.


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Stories about WRMA and its Members have appeared in:

  • Australia’s Business Review Weekly

  • The Australian

  • Energy Risk

  • Futures Industry Magazine

  • Top Producer

  • Risk & Insurance

  • Chile’s Diario Financiero


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Growing the Business

  • To broaden WRMA’s reach and to drive more traffic to the WRMA website, external PR in 2010 will focus on seasonal pitches to smaller, targeted publications. Country specific as well as trade publications will be pitched.

  •  For most of these publications, the idea of weather risk management will be novel and worthy of attention. We’ll be able to reach potential customers of weather risk management services, which likely will have a tangible benefit for our members. WRMA will be helping the weather risk market grow.


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Publicizing WRMA’s Mission

WRMA disseminates news about its efforts on behalf of the weather risk industry to the press and outside organizations


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Publicizing WRMA’s Mission

Spreading the word with articles and ads


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Articles

  • Risk Management Magazine

  • The Public Ledger

  • World Finance

    Ads

  • Trading Risk’s Global Energy Review

  • First Enercast Financial

  • Storm Investor


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WRMA’s Marketing Committee

  • The Committee is responsible for producing the new Weather Risk and Agriculture section on WRMA Website

  • The new section is designed to raise awareness of weather risk management tools for the agriculture sector.

  • Announcements about the new section are being sent to agricultural groups around the world.


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The Weather Risk and Agriculture section can be found at http://www.wrma.org/risk_agriculture.html


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WRMA’s Marketing Committee http://www.wrma.org/risk_agriculture.html

The Committee is Bill Windle - RenRe, Catherine Besselman - Endurance Re, Harini Kannan – Swiss Re, Jean Christophe Garaix – Paris Re and Shirley Savage – WRMA

Thank you for your hard work on this project!


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WRMA Weekly News Summary http://www.wrma.org/risk_agriculture.html

  • The Weekly News Summary is a members-only service, highlighting stories that may be of interest to the weather risk market.

  • This weekly mailing is read by a large percentage of the membership and is often forwarded on to others.


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WRMA Weekly News Summary http://www.wrma.org/risk_agriculture.html

  • For example, the April 8, 2010 Weekly News Summary was opened by 54 people, read by 105 people and there were 39 clickthroughs to the links.

  • This shows that the Weekly News Summary is finding articles of interest to the membership.


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WRMA Member Outreach http://www.wrma.org/risk_agriculture.html

  • One of the benefits of WRMA membership is the Association’s public relations efforts on behalf of the weather risk industry.

  • This year we want to leverage our members’ stories and activities to promote the industry.

  •  All member companies will be contacted as part of this initiative.


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WRMA Member Outreach http://www.wrma.org/risk_agriculture.html

  • So far 35% of the membership has been contacted.

  • Response has been very positive to this initiative.

  • What can WRMA do to help promote your company? Suggestions/ideas are welcome!


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WRMA Meetings http://www.wrma.org/risk_agriculture.html

Mark Your Calendars

2010 European Meeting - September 15-17

Krakow, Poland

2011 Australian Meeting (Feb/Mar)

2011 Annual Meeting - TBD


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