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Globex Multinational Underwriting Services. April 2009. Agenda. ♦ Why? ♦ What? ♦ Who? ♦ How does it work? - The 11 Step Process ♦ Results ♦ Recent Developments ♦ Examples. Why. ♦ Market driven approaches by AIG/ACE/Chubb/Zurich etc

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Globex multinational underwriting services




♦ Who?

♦How does it work? - The 11 Step Process


♦Recent Developments

♦ Examples

Globex multinational underwriting services

♦Market driven approaches by AIG/ACE/Chubb/Zurich etc

♦ Abundance of alternative capacity who do not have an international


♦ Compliance (Sarbanes Oxley)

♦Customers desire to understand and manage their cost of risk

♦Competitive and controlling edge

Globex multinational underwriting services


♦Local and Regulatory Information & Education

♦ Alternative Program Design – Limits, Coverage, Deductibles

♦ Alternative Fronting Arrangements – 100+countries, 260 local


♦ Program Implementation - Reinsurance Agreements, certificates,


♦ Accounting – premium/taxes/fees collection and disbursement

(stateside and/or in foreign jurisdiction)

♦ Program Servicing – centrally managed WW network

Globex multinational underwriting services


♦Your Proprietary Global Business Unit with 50+ years of combined

International Experience- central office in CT with coordinating

offices in London and Beijing

♦ Design/build that saves up to 50% off traditional market approaches

♦ Property, Liability, Marine, D&O, Health and Benefits

♦ Representation in 100+ countries

♦ Proprietary Software,, that is efficient and cost


Globex multinational underwriting services


The 11-Step Process

  • Inquiry submitted to Globex’s MUS Department.

  • MUS reviews information and develops questions for clarification.

  • MUS reviews additional information and outlines items and issues which Insurer needs to consider regarding set up and administration of the overseas program.

  • Items reviewed include:

    • Confirmation that local policies are fronting programs only with 100% (or as allowed by local law) reinsured back to insurer

    • Claims procedures and details of what local companies need to do if anything

    • A summary of the Insurer’s program

Globex multinational underwriting services

  • MUS proposes program options to underwriter who confirms terms and conditions.

  • MUS solicits fronting arrangements and obtains front’s agreements to proposed terms.

  • Spreadsheet is developed for underwriter summarizing terms, costs, fees and premiums by country.

  • Insurer agrees to the overall program and provides MUS with all local client contact names and addresses.

  • MUS issues Reinsurance Certificates which are signed by local underwriter and by Insurer.

  • Banking details are shared with Insurer and local front and funds expedited.

  • Globex provides Insurer with final program spreadsheet; program is monitored and maintained.

  • Globex multinational underwriting services


    ♦ Ability to provide primary capacity

    ♦ Ability to target multinationals and win these accounts against

    the traditional global players

    ♦ Significant reduction in program frictional costs

    ♦ Enhanced ability to fine-tune premium allocations

    ♦ Greater flexibility in choice of Program Design

    ♦ Better control of capacity deployment

    ♦ High degree of regulatory compliance at lower cost

    ♦ Cost-effective global capability: Annual Partnership Fees are

    equivalent to the cost of an Account Executive

    Globex multinational underwriting services

    Recent Globex Developments

    ♦ New coordinating office in Beijing

    ♦ Increased Reverse Flow opportunities from

    Canadian and European markets

    ♦ GPS: Global Processing Services facilitates international

    premium transactions

    ♦ Our proprietary web-based application

    simplifies the application and implementation process for foreign



    Traditional Program

    Globex Assisted Program

    • AIG led global program

    • Local policies issued by

      AIG affiliates

    • Globex Partner Market issues global master policy

    • Globex secures fronting policies


    Traditional Program

    Globex Assisted Program

    • Globex Partner Market issues global master policy

    • Globex secures fronting policies

    • Brazil is placed stand-alone, with

      master policy providing DIC

    • Year 2 generates 50% savings

    • Fully non-admitted global


    • No local policies


    Traditional Program

    Globex Assisted Program

    • Globex Partner Marketcan write global master program.

    • Globex secures fronting policies where needed

    • Globex Partner Market writes US only

    • Zurich writes the international