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Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘ 3 November 2010

Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘ 3 November 2010. Welcome to Lloyd’s. Coverholders are a key distribution channel for Lloyd’s - we value your business and support Today, we aim to: -

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Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘ 3 November 2010

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  1. Lloyd’s European Coverholder Event ‘supporting the coverholder network ‘ 3 November 2010

  2. Welcome to Lloyd’s • Coverholders are a key distribution channel for Lloyd’s - we value your business and support • Today, we aim to: - • Share information with you - on key Lloyd’s developments, to help you support your clients • Obtain your feedback - to 'help us help you' develop your business • Provide networking opportunities - with other leading European Coverholders and Lloyd’s country managers • Update you on progress – against areas flagged at the 2010 event

  3. -------- Lloyd’s Gallery 11 -------- • 9.30 – 10.00Registration and Coffee (PR 2&3) • 10.00 – 10.30 Welcome & EU Coverholder Update (PR 2&3) • Stephen Moore, Manager Market Development • Lloyd’s European Regional Heads • 10:30 – 12.15Workshop Sessions (2 delegate groups do each session in rotation) • Chaired by Benno Reischel, Head of Northern Europe, Lloyd’s • (each session - 15min presentation + 30min group questions/actions) • Workshop 1 – Branding, Marketing & Education (PR 2) • Stephen Moore, Manager, International Markets • Matt Drage, Marketing & Communications Manager • Workshop 2 – Supporting Technology (PR 4) • Adam Stafford, Head of Electronic Distribution, Market Development • 12:15 – 12.45Workshop Feedback and Recommended Actions (PR 2&3) • Feedback from presenters on recommendations / actions • 12.45 – 13.00 Lloyd’s Key Messages & Q&A with the CEO (PR 2&3) • Richard Ward, CEO, Lloyd’s • 13.15 – 14.30Coverholder & Country Manager Lunch (PR 4 / G11 lobby) • G11 lobby with Country Manager Networking Tables • Showcasing of the Coverholder Toolkit on ipads will take place

  4. 14.30 – 15.15 European Regulatory Update (PR 2&3) Alastair Evans, Head, Government Policy & Affairs 15.15 – 16.00Coffee break (G11 Lobby) + Optional Lloyd’s Tour Showcasing of the Coverholder Toolkit on ipads will take place --------move to ground floor-------- 16.00 – 17.15Lloyd’s Panel - Q&A Session Open to Market (Captain’s Room) Peter Montanaro, Head, Delegated Authorities, Lloyd’s (Chairman) Lloyd’s European Regional Heads Peter Fitch, Head of Communications Representative from London MA & Broker 18.00 – 19.00Lloyd’s Coverholder Drinks Reception (Rostrum, Underwriting Room) 19.00 – 21.30Lloyd’s Dinner hosted by Jose Ribeiro, Director of International Markets (Captain’s room)

  5. ‘What you told us’ • Streamline data & bordereaux reporting • Clarify use of Lloyd’s brand • Provide email & newsletter updates • Provide promotional material to help explain Lloyd’s • Provide local language promotional materials • Clarify agent appetite & product offerings • Streamline contract renewal – e.g. multi year contracts • Reduce confusion between syndicate & insurance co. operations • Explain claims developments … Summary update with your event invite & more detail in the workshops

  6. Lloyd’s in Europe

  7. Lloyd’s European Premium by Class CHART: Lloyd’s Gross Signed Premiums: in million US$ 800 700 600 500 400 300 200 100 0 Italy Israel Malta Spain Ireland Russia Turkey Austria France Poland Cyprus Greece Norway Sweden Belgium Portugal Germany Denmark Switzerland Netherlands Luxembourg Channel Islands Source: Market intelligence based on Xchanging; Gross Signed Premiums (GSP); *Europe defined as territories included in Chart ! Lloyd’s data is based on Xchanging “REG 258”, (2010); unaudited figures based on country of origin and processing by calendar year; please refer to Appendix for detailed summary of Lloyd’s Data Limitations.

  8. Lloyd’s European Premium by Class CHART: Lloyd’s Gross Signed Premiums: by Lloyd’s 10 2010 Lloyd’s GSP US$ 10.4bn Source: Market intelligence based on Xchanging; Gross Signed Premiums (GSP); *Europe defined as territories included in Chart on previous slide ! Lloyd’s data is based on Xchanging “REG 258”, (2010); unaudited figures based on country of origin and processing by calendar year; please refer to Appendix for detailed summary of Lloyd’s Data Limitations.

  9. Lloyd’s European Premium by Channels CHART: Lloyd’s Gross Signed Premiums: by Distribution Types Direct 5% 21% Facultative 2010 Lloyd’s GSP US$ 10.4bn 55% Non-Proportional Treaty 19% Treaty Source: Market intelligence based on Xchanging; Gross Signed Premiums (GSP); *Europe defined as territories included in Chart on previous slide ! Lloyd’s data is based on Xchanging “REG 258”, (2010); unaudited figures based on country of origin and processing by calendar year; please refer to Appendix for detailed summary of Lloyd’s Data Limitations.

  10. Lloyd’s European Premium by Channels CHART: Lloyd’s Gross Signed Premiums: by Distribution Types Direct 6% 5% 4% Facultative 29% Brokers2010 Lloyd’s GSP US$ 7.5bn Coverholders2010 Lloyd’s GSP US$ 2.9bn 41% Non-Proportional Treaty 90% 25% Treaty Source: Market intelligence based on Xchanging; Gross Signed Premiums (GSP); *Europe defined as territories included in Chart on previous slide ! Lloyd’s data is based on Xchanging “REG 258”, (2010); unaudited figures based on country of origin and processing by calendar year; please refer to Appendix for detailed summary of Lloyd’s Data Limitations.

  11. Importance of pro-actively managing performance of Delegated Authorities • > 2,500 coverholders worldwide (including 200 service companies) • > 6,800 binders worldwide • > 95 applications approved in Europe in 2011 Note: Numbers are based on year of account data

  12. Strong network of coverholders Norway Sweden UK 15 21 Total Coverholders in Europe 1024 675 Denmark 8 Poland 37 5 Ireland Austria 3 France Netherlands 44 17 16 Belgium 102 33 23 26 7 Spain Switzerland Italy Germany Greece 12 12 Europe: MARKET UPDATE October 2008 Lloyd's International Markets QUICK TOUR Source – As at April 2011, includes service companies

  13. Regional update

  14. Uk & Ireland Key developments in 2011 & Priorities for 2012 Key Developments in 2011 • Established the first inwards broker programme for UK regional brokers. • Visited approximately 40 new coverholders around the UK • Lloyd’s presence for the first time at BIBA, AIRMIC and Expos (with market practitioners!) • Lloyd’s played a key role in the inception of the MGAA. • First Lloyd’s Event in Northern Ireland. Priorities for 2012: • MANAGING GENERAL AGENTS - develop and influence the progress of the MGAA • COVERHOLDERS – Relationship Management • PROFILE THE LLOYD’S BRAND – continue to generate high profile industry and general business interest in Lloyd’s to promote a better understanding of the Lloyd’s market • REGIONAL BROKERS/BROKER NETWORKS/CLUSTER GROUPS - continue to develop relationships with regional UK brokers either directly or via BIBA/IIB and to encourage more ‘traffic’ into Lloyd’s. For Irish Brokers to view the Lloyd’s Market as a real alternative to the local direct writers • RISK MANAGERS/CEDANTS/CLIENTS/STUDENTS - continue to develop relationships with risk managers/AIRMIC members to promote better understanding of the Lloyd’s market. To undertake educational initiatives to students and / or other interested audiences to raise understanding of Lloyd’s. • MANAGING AGENTS & LLOYD’S BROKERS - facilitate and support managing agents and Lloyd’s brokers in their initiatives in the UK & Ireland and in particular raise awareness of the UK regional market in Lloyd’s.

  15. Uk & Ireland Key developments in 2011 & Priorities for 2012 Major Events 2012: • Inwards Broker/MGA programmes (coverholders are also welcome) • Broker Expos – Coventry and Weybridge • Regional Event – Meet the Market Day – involving local coverholders/service companies. • AIRMIC – Liverpool Conference and workshop; partnership programme - June • BIBA – Manchester Conference and fringe session - May • Ireland – Meet the Market Day 10th May 2012 – Dublin • Ireland – Bloodstock/Class of Business Event • Ireland – Broker Networking Event - September

  16. Southern, Eastern Europe & Africa Key developments in 2011 & Priorities for 2012 Key Developments in 2011 • Market Trip to Turkey • Russia • New Representative in Israel • Market development & Events plan successfully delivered in the region Priorities for 2012: • Russia • Turkey • Strategy for Arab countries • Implementation of strategy for Sub-Saharan region & CEE countries Major Events 2012: • Re-insurance rendez-vous for CEE countries in Poland • CEO visit to Turkey & Spain • Regional event for Sub-Sahara • Country level Meet the Market events (Italy, Spain, Poland, Israel)

  17. Northern Europe Key developments in 2011 & Priorities for 2012 Key Developments in 2011: Enhance presence and visibility • Opened Lloyd’s Benelux office in Rotterdam • More Coverholders established in Northern Europe (+37 last 20 months) • Demystifying Lloyd’s: EU Broker Access Roadmap in six languages; Class of Business and Networking Events • Launched Claims Workshops: introducing new claims management principles • Wording Repository for Binding Authority and Policy Wordings – German pilot launched • Launched the Lloyd’s/FERMA Professional Development Programme for risk managers Priorities for 2012: Focus on profiling Lloyd’s and adding value • Move office in Paris: visible, reachable, usable • Ensure continuity of Lloyd’s representation in Germany: introduce new country manager • Boost business opportunities in the Benelux Countries: Meet the market – mini Lloyd’s • Strengthen the Coverholder network in the Nordic countries: optimizing distribution • Explore market development opportunities in Finland: extending our horizon • Switzerland and France: regional networking events – going local • Promote Austria as regional Lloyd’s platform for Central Europe • Research Arctic risks for the shipping and drilling industry: be prepared for tomorrow

  18. Northern Europe Key developments in 2011 & Priorities for 2012 Major Events 2012: • All countries: Class of Business (COB) events focusing on capacity demand and Lloyd’s expertise • France: AMRAE conference; regional networking events • Benelux: Meet the Market in Rotterdam • Germany: Baden Baden reinsurance week • Nordic Region: launch of Lloyd’s Arctic Risk Report • Switzerland: Regional COB and networking events • Chairman’s visits to Germany and France

  19. Concluding comments

  20. Concluding comments • Coverholders are a key part of Lloyd’s distribution network • We want to support you and your business • We value your business & knowledge of your markets • We welcome your feedback …Do make full use of the programme & networking opportunities

  21. Coverholder Workshops

  22. Coverholder workshops Workshop sessions: 10.40-12.15 • Workshop 1 – Lloyd’s Branding, Marketing & Education (Room 2) - Stephen Moore, Manager, International Market Development - Matt Drage, Manager, Marketing Communications • Workshop 2 – Supporting Technology (Room 4) - Adam Stafford, Head of Electronic Distribution Feedback session: 12.15-12.45 (Room 2,3)

  23. Lloyd’s Key messages & Q&A Richard Ward, CEO

  24. European Regulatory update Alastair Evans, Head, Government Policy & Affairs

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