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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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12 th Annual Meeting

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12th Annual Meeting

Miami, Florida

May 12, 2010

Annual Business Meeting

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.
2009 2010 year in review highlights
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

2009 2010 year in review highlights4
2009/2010 Year in Review Highlights


  • Held successful meeting in Paris, France
  • Continue to monitor EU directives impacting industry (IASB)
  • Broadening our reach to include new entrants
2009 2010 year in review highlights5
2009/2010 Year in Review Highlights


  • Completed first industry survey of Indian weather market
  • Outreach to the burgeoning Australian weather industry
  • Hosted Chinese delegation of meteorologists
2009 2010 year in review highlights6
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

2009 2010 year in review highlights7
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.
treasurer s report
Treasurer’s Report

WRMA remains financially sound

treasurer s report9
Treasurer’s Report
  • Statement of Activity 2009:


  • Revenue $262K $239K
  • Expense $297K$261K
  • Budget net loss $($35K) $($23K)
  • Net Assest 2008 $168 $168
  • Total Net Assets $134K $145K
treasurer s report10
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
wrma s 12 th annual meeting
WRMA’s 12th Annual Meeting

Election of Directors

weather risk management association 2010 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:
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.

wrma 2010 2011 slate of directors14

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:


Bill Windle, RenRe Energy Advisors Ltd.

Vice President

Christina Hanson, Chicago Mercantile Exchange


Sandeep Ramachandran, Swiss Re

Past President

Martin Malinow, Galileo Weather Risk Management

wrma pr 2009 2010 media coverage
WRMA PR 2009-2010Media Coverage

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

stories about wrma and its members have appeared in
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
growing the business
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.
publicizing wrma s mission
Publicizing WRMA’s Mission

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

publicizing wrma s mission20
Publicizing WRMA’s Mission

Spreading the word with articles and ads

  • Risk Management Magazine
  • The Public Ledger
  • World Finance


  • Trading Risk’s Global Energy Review
  • First Enercast Financial
  • Storm Investor
wrma s marketing committee
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.

The Weather Risk and Agriculture section can be found at

wrma s marketing committee24
WRMA’s Marketing Committee

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!

wrma weekly news summary
WRMA Weekly News Summary
  • 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.
wrma weekly news summary27
WRMA Weekly News Summary
  • 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.
wrma member outreach
WRMA Member Outreach
  • 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.
wrma member outreach29
WRMA Member Outreach
  • 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!
wrma meetings
WRMA Meetings

Mark Your Calendars

2010 European Meeting - September 15-17

Krakow, Poland

2011 Australian Meeting (Feb/Mar)

2011 Annual Meeting - TBD