Annual International Nuclear ForumBulgarian Nuclear Energy National, Regional and World Safety NPP KozloduyReinsurance Security 28th May 2008 Bruce Sampson Aon Re CEEManaging Director Aon Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.
Contents • Aon Re CEE • What is our role? • Reinsurance programme for NPP Kozloduy • Key reinsurance security • Construction insurance
Aon Re CEE • Aon is the largest Insurance and Reinsurance broker in the world and the largest broker for power generation insurance outside the USA • Dedicated power generation team who provide a fast and powerful handling service • Act on behalf of Energy Insurance Company • Design suitable reinsurance structure • Liase with worlds reinsurance markets and find the optimal coverage both pricing and scope of cover
Aon Re CEE – What is our role? • We provide strong financial additional capacity for Energy Insurance Company by spreading the risk through the international Reinsurance market in the event of a major loss
NPP Kozloduy Reinsurance Programme The Reinsurance cover in place for NPP Kozloduy provides cover for up to Euro 300,000,000 for any one loss and is placed with 16 Reinsurance companies around the world, including Lloyd’s of London. The financial strength of the reinsurers participating within the reinsurance cover is extremely strong and has a minimum of “A” (strong) Standard & Poors rating. The key reinsurers are Zurich Global Energy, Munich Re, Partner Re and Hannover Re as well as Lloyd’s of London, who are recognised as the aspects in power generation Reinsurance. The Reinsurance cover is for the perils of Fire, Explosion, Lightning, Aircraft and Earthquake and covers all Real and Personal Property of every kind belonging to NPP Kozloduy.
“Key” Reinsurance Security Zurich Global Energy – Standard & Poors AA- (Very strong) • The leading reinsurer on the reinsurance cover and a major insurer of operational and construction risks for the power generation industry and operates through 50 offices worldwide. Munich Re – Standard & Poors AA- (Very strong) • The largest reinsurance company in the world and the No 1 leading expert in construction risks Reinsurance including nuclear power stations. They also have their own dedicated engineers. Lloyd’s of London – Standard & Poors A+ (strong) • Ranked 5th largest insurance market in the world and heavily involved with Insurance of Nuclear power stations.
Construction Insurance • The 16 participating reinsurers on the NPP Kozloduy insurance programme are the world’s recognised specialist for the power industry, and are able to provide full Reinsurance capacity behind Energy Insurance company for all insurance requirements of the construction of Belene Nuclear Power Plant as well as full risk management services.