Energy insurance the road ahead
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Energy Insurance The Road Ahead Dominick Hoare The Loss/Profit Equation Inherent Business Dilemma Demands of Capital Stable Profit Environment Sustainable Business Concept Current Environment Volatility Premium Increases Severe Loss Frequency Long Term Uncertainty

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Energy insurance the road ahead l.jpg

Energy Insurance The Road Ahead

Dominick Hoare


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The Loss/Profit Equation

  • Inherent Business Dilemma

  • Demands of Capital

  • Stable Profit Environment

  • Sustainable Business Concept


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Current Environment

  • Volatility

  • Premium Increases

  • Severe Loss Frequency

  • Long Term Uncertainty


























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Lloyd’s Energy Statistics

Offshore Physical Damage - Incurred Loss Ratio


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Lloyd’s Energy Statistics

Control of Well - Incurred Loss Ratio


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Lloyd’s Energy Statistics

Onshore Physical Damage - Incurred Loss Ratio


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Lloyd’s Energy Statistics

Energy Liability - Incurred Loss Ratio


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Lloyd’s Energy Statistics

All Classes - Incurred Loss Ratio




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Equity Markets

9/11

P36 - March

Toulouse - September


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Situation

  • Capital Intolerance

  • Flawed Business Model

  • Short Term Solutions vs. Long Term Business


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Solution

  • Mutual and Constructive

  • Reduce Volatility

  • Renewed Confidence

  • Stable Capital


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Fundamental Restructuring of Business

  • Return on Capital

  • Higher and Consistent Premium Levels

  • Transparent Risk Transfer


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Insured's Charter

  • Higher Quality Product

  • New Standard Levels

  • Commitment and Continuity


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Lloyd’s

  • Flexible and Innovative Product

  • Expertise and Professionalism

  • Unique Talent Pool


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Lloyd’s

  • Chairman’s Strategy Group/Franchise Concept

  • Proactive and Supportive

  • Entrepreneurial Spirit

  • Strong Corporate Governance


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Lloyd’s

  • 9/11

  • Trading Continuity

  • Funding Obligations

  • 2000 Gross Income – £ 10.2bn

  • 2001 Gross Income – £ 11.6bn

  • 2002 Gross Income – £ 12.8bn


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Regulatory Environment

  • Risk Focused Management

  • LMP Reforms

  • Product Centered

  • Market Leadership from Lloyd’s


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Re-Definition of Insurance Business Model

  • Structural Change – Mutually Driven

  • Product of Highest Quality and Integrity

  • Sustainable and Profitable

  • Is Failure an Option?


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Energy Insurance The Road Ahead

Dominick Hoare


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