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Unity Re: Leading the Russian Reinsurance Market

Explore the development of the Russian reinsurance market through market dynamics, factors of trending, market players, Unity Re's milestones, vision, and legal compliance. Learn about Unity Re's portfolio, capacity, and contacts.

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Unity Re: Leading the Russian Reinsurance Market

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  1. RUSSIAN REINSURANCEMARKET DEVELOPMENT Dmitry GARMASHDeputy CEOUnity Re Ltd. FIAR, Sinaia, 2012

  2. Market dynamics (FSIS), billion RUR • 2011: • Non-life insurance GPW23 bln USD. • Non-life paid claims10,6 bln USD • Inward reinsurance GPW 1,2 bln USD • Inward reinsurance paid claims 0,4 bln USD

  3. Inward reinsurance

  4. Inward reinsurance market, 2011 • Inward R/I 2010 – 1,2 bln$: 1st year of stabilization. • Classic risk business share – about 50%, i.e. roughly 0,6 bln$ • Specialist reinsurers – up to 20-25% of total inward R/I GWP • Total number of reinsurance players in 2011г. – 133 (2010 – 152$ 2009 – 176; 2008- 196) • Total number of specialist reinsurers - 18(2010 – 23; 2009 – 25) • Oligopolistic structure = quality! • Outward reinsurance – stability since 2010: ~3 bln USD 4

  5. Factors of trending • Stability of genuine risky reinsurance volume & absolute amount of claims paid. • Dumping and overall rates softening • Rise of retentions & reinsurance protections VS • Market consolidation better quality of services • R/I business from overseas seeking alternative capacities • Adaptation and correction of actual strategies • Shifting retentions and capacities of R/I players

  6. Market players

  7. Market players – Top-15 reinsurers

  8. Business from overseas

  9. 60% 16% 4% 18% 2% Business from overseas

  10. Grounds for growth • Strengthening financial and technical capabilities of the players! • Rise of capacities, retentions and retro-programs • Difference in leaders of retro- and reinsurance programs • Globalization and active development of emerging markets  demand for alternative capacity • Further spread of brokers’ activities geographically • Historically active cooperation with CIS • No binding to world (re)insurance cycle

  11. UNITY RE A RUSSIAN REINSURANCE LEADER 2011

  12. Milestones • In 2004, renamed into Reso Re and started its active development within the reinsurance market of Russia and CIS. • In 2006, rebranded to Unity Re and also restructured to obtain more high-qualified and experienced team to promote further as the specialist reinsurance center of Group RESO and strategically the leading reinsurer within FSU. • In 2007, started operations in overseas markets, writing property, construction and marine business from South America, MENA and SEA regions. • In 2007, was granted with the international financial strength rating of ‘BB-’ from Standard & Poor’s. It is maintained until nowdays with the enhancement of the rating outlook from stable to positive. • In 2010, Unity Re finally conquered the top position in the market, ranked the first among the specialist reinsurers in Russia (over 1 bln RUR of GPW) • In 2011, A.M.Best assigned a secure “B+” rating, outlook stable, to Unity Re. 12

  13. Vision & mission

  14. Highlights & competences 14

  15. Legal & compliance • The 100% shareholder of Unity Re is RESO Holding - one of the leading insurance holdings within Russia & CIS. • Currently, the paid-up capital of Unity Re is 500m RUR (~16.6m USD) • The actual reinsurance license No. 1643 77 of 04.07.2007. • Since 2007, KPMG has been the official auditor of Unity Re for IFRS financials.

  16. International rating Unity Re has the following actual international ratings assigned: • Rating reports specially outline Unity Re’s: • Good capitalization • Profitability • Strong position in the domestic market • Very good level of retrocession protection

  17. Portfolio 2011 The scope of Unity Re’s activities is classic reinsurance, where the company offers coverage for all major lines of business: general property, construction, energy and petrochemical, cargo, marine hull, aviation, accident & health, liability.

  18. Portfolio 2011 • 344(re)insurance and broking companies from Russia, CIS & overseas • 287 companies from Russia, inc. all players from Top-50 (a unique!) • cooperation with all major brokers operating in Russia & internationally

  19. Portfolio 2011 The major geographical scope of Unity Re’s business is focused at Russia & CIS. Additionally, since 2006, Unity Re has intensified its activities in overseas markets, writing business from South-East Asia, Central & South America and Africa.

  20. Largest paid claims 2006-2011

  21. Capacity 2012

  22. Contacts 125047, Russian Federation, Moscow, Gasheka st., 12 Tel.: +7 495 956 6589Fax: +7 495 956 6598 E-mail: re@unityre.ru www.unityre.com

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