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Welcome address lord levene, chairman, lloyd’s

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Welcome address lord levene, chairman, lloyd’s

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  1. Welcome addresslord levene, chairman, lloyd’s

  2. Introduction antonio prida, member of the committee for uk mexico business relationships

  3. Trends & strategic plans for mexico: risks and opportunitiesmanuel aguilera, cnsf

  4. Introduction to lloyd’s jose ribeiro, director, international markets, lloyd’s

  5. Índice 1 Sobre Lloyd’s: • Qué es y cómo funciona • Seguridad y solvencia financiera 2 Lloyd’s en México 3 Resultados

  6. Qué es Lloyd’s?

  7. Es el mercado lider de seguros especializados en el mundo

  8. Lloyd’s es diferente! • Lloyd’s es una sociedad de miembros que opera como un mercado de seguros. No es una compañía de seguros. • Lloyd’s tiene miembros. No tiene accionistas ni socios.

  9. Estructura de Lloyd’s

  10. Participantes en Lloyd’s • The Society & Corporation of Lloyd’s • Miembros de Lloyd’s. • Sindicatos de Lloyd’s • Managing Agents. • Lloyd’s Brokers • Coverholders / Service companies

  11. Estructura del mercado de Lloyd’s Corporation of Lloyd’s Gestión 53 Agentes Gestores 181 corredores de Lloyd's SuscriptoresFacultados Compañías de Servicio Miembros Asegurados 85Sindicatos • Directo • Corporativos Agentes(miembros) • Reaseguro • Personas Suscripción FLUJO DE NEGOCIOS PROVISIÓN DE CAPITAL Fuente: Lloyd’s al 31/12/09;

  12. AGENTES GESTORES ( Managing Agents) Corporation of Lloyd’s Corporation of Lloyd’s Management Management 48 51 Managing Managing 176 Agents Agents Members Members Policyholders Policyholders Lloyd’s BrokersService Companies 80 78 Direct Direct Corporate Corporate § § § § Members Members Syndicates Syndicates Agents Agents Reinsurance Reinsurance Individual Individual § § § § Underwriting Underwriting • Los sindicatos que suscriben riesgos en Lloyd's conjuntamente forman uno los aseguradores mas grandes del mundo, y un reasegurador líder. • El mercado de Lloyd's cuenta con 53 agentes gestores que administran 85 sindicatos. BUSINESS FLOW CAPITAL PROVISION Fuente: Lloyd’s al 01/01/09

  13. SEGURIDAD Y SOLVENCIA FINANCIERA

  14. Fortaleza y estabilidad Activos a nivel de sindicatos GBP 37,400m 1ER NIVEL ACTIVOSDIVERSOS Fondos de miembros de Lloyd's GBP 13,159m 2do NIVEL Fondo centralGBP 983m Activos corporaciónGBP 143m capa suplementariaGBP 683m ACTIVOS MUTUOS 3er NIVEL Deuda subordinada / valoresGBP 958m CADENA DE RESPALDO OFRECE EXCELENTE SEGURIDAD y EFICIENDIA DE CAPITAL Fuente: Society of Lloyd’s financial statements, Annual Report, (Marzo 2010)

  15. Ratings financieros Calificaciones Las principales agencias de calificación reconocen la fortaleza de Lloyd’s y su fuerte capitalización. Los ratings de Lloyd’s aplican a toda póliza emitida por cualquier Sindicato de Lloyd’s desde 1993. En los últimos años, nuestros ratings han resistido, prueba de nuestra fortaleza financiera y competitiva. A+ Fitch Ratings A+ (fuerte), estable Standard & Poor’s A+ (fuerte), estable A A.M. Best A (excelente), estable Calificaciones confirmadas en Julio /Septiembre 2010

  16. Lloyd’s en México

  17. Posición de Lloyd’s en México • registrado como reaseguradora extranjera desde 1985 • primas : USD 330 millones (2009), crecimiento de 65% en últimos 5 años • reclamaciones : respuesta y apoyo al mercado después de pérdidas catastróficas • clases de riesgo • todas las clases de P&C • algunos nichos de A&E (accidentes y gastos médicos)

  18. Resultados - benchmark COMBINED RATIO Lloyd’s continues to compare well against its peers Sources: Sources i) Insurance Information Institute (estimate-2009), ii) Reinsurance Association of America, iii) Company data (8 European companies: 17 Bermudian companies)

  19. Coffee break

  20. Lloyd’s – the broker perspective richard elias – chairman, howden insurance brokers

  21. Lloyd’s – the benefits of being a lloyd’s coverholder nick hales – head of business development, talbot

  22. LLOYD’S A COVERHOLDER’S PERSPECTIVE Nicholas J. HalesManaging DirectorUnderwriting Risk Services Ltd

  23. INTRODUCTION • The delegated authority models • Service company • Coverholder • Managing General Agent (MGA) • Facts • How we utilise the models • Attractive model to Lloyd’s • Benefits of being a coverholder • Q & A

  24. DELEGATED AUTHORITY MODELS Service company “Service company coverholder” means an approved coverholder that – (a) Is associated with a managing agent by reason of – • It being a wholly owned subsidiary of the managing agent • It being a wholly owned subsidiary of the managing agent’s holding company 24

  25. DELEGATED AUTHORITY MODELS • Coverholder A coverholder is a firm that is authorised by a managing agent under the terms of a binding authority to enter into a contract of insurance to be underwritten by members of a syndicate. Lloyd’s syndicates Insured Local Broker COVERHOLDERS Lloyd’s Broker

  26. DELEGATED AUTHORITY MODELS • Coverholder • They allow Lloyd’s syndicates to operate as if it were a local insurer • A Lloyd’s syndicate delegates full or limited authority to a company (usually a broker) to commit to contracts on its behalf • The rights and obligations of the coverholder are set out in a contract (the binding authority) which is renewed annually • Coverholders issue the insurance documentation to policyholders • Many coverholders are given the authority to handle claims • The Lloyd’s Corporation approves all coverholders

  27. DELEGATED AUTHORITY MODELS • Managing General Agent A managing general agent (MGA) is a firm authorised by an insurer to transact insurance business who may have authority to bind the insurer, issue policies, appoint producers, adjust claims and provide administrative support for the types of insurance coverage pursuant to an agency agreement.

  28. FACTS Approximately 2000 coverholders (ex UK) Approximately 200 service companies £6bn of premium transacted via these models to Lloyd’s Approximately 26% of Lloyd’s income 28

  29. HOW WE USE THESE MODELS Service company Singapore Via Lloyd’s Asia platform Service company Miami and Chile Latin American Treaty and Facultative Business from region Coverholders / MGA’S Location:Specialising in: New York Onshore Energy / Marine London Onshore Energy / Yachts /Marine (Marinas) / Builders Risks / Fine Art Dubai Energy / Construction 29

  30. BENEFITS TO US Distribution channel and access to regional markets Become part of the local marketplace Focus on specialist / niche areas of underwriting Have a capacity which is attractive to local buyers Permit local underwriting to complement other areas 30

  31. WHY ARE THESE ATTRACTIVE MODELS TO LLOYD’S? Agent of underwriters (not policyholders) Utilise local expertise / specialists Issue local documentation / Collect premiums / Pay claims Access point for Lloyd’s security into local markets 31

  32. KEY BENEFITS OF BEING A COVERHOLDER • Access to Lloyd’s brand, security and ratings • Access to specialist underwriting expertise • Ability to issue policies, authorise and handle claims

  33. CONCLUDING REMARK Some Personal Thoughts “Coverholders represent and contribute to the strength and diversity of the Lloyd’s franchise. They should be seen as the focus for local knowledge, local relationships and the true local voice for the international Lloyd’s brand”.

  34. Questions 34

  35. Lloyd’s panel jose ribeirorichard eliasnick halesantonio prida

  36. Coffee & networking