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Reassurance Market as Resource for Development in CIS

Reassurance Market as Resource for Development in CIS. Miroslaw Kowalski LLIF Director Head Moscow Offie, Russia & CIS Life & Health Swiss Re. Life&Health Swiss Re 20, 21 June 2007. Agenda. Introduction & history. Principles & Organization. Competitive strengths.

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Reassurance Market as Resource for Development in CIS

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  1. Reassurance Market as Resource for Development in CIS Miroslaw Kowalski LLIF Director Head Moscow Offie, Russia & CIS Life & Health Swiss Re Life&Health Swiss Re 20, 21 June 2007

  2. Agenda Introduction & history Principles & Organization Competitive strengths Facts , figures & Outlook L&H in Central Eastern Europe (CEE) Swiss Re Services Life&Health Swiss Re 20,21 June 2007

  3. Offices in more than 30 countries Global presence Life&Health Swiss Re 20, 21 June 2007

  4. Net income amounted to CHF 1.5 billion Premiums earned amounted to CHF 27.8 billion Total investments amounted to CHF 114.9 billion Leading position in P&C reinsurance Leading L&H reinsurer Leading provider of insurance-linked securitisation solutions Highly diversified portfolio by region and by line of business Proven expertise in risk and capital management Strong corporate culture based on over 142 years of experience Swiss Re Group at a glance Life&Health Swiss Re 20, 21May 2007

  5. Agenda Introduction & history Principles & Organization Competitive strengths Facts , figures & outlook L&H in Central Eastern Europe (CEE) Swiss Re services Life&Health Swiss Re 20,21 June 2007

  6. Client base Financial strength Knowledge Expertise in capital and risk Comprehensive product and service offering Global presence Balanced portfolio Geographical diversification Global leadership position Competitive strengths Life&Health Swiss Re 20, 21 June 2007

  7. Client base Reinsurance Property and casualty insurance companies Life insurance companies Captives Large corporations Financial institutions Institutional investors Financial services Life&Health Swiss Re 20, 21 june 2007

  8. Knowledge and expertise – Swiss Re’s publications Long-established and proven expertise Extensive research and focused innovation Exceptional working and learning environment Swiss Re’s publications risk perception series sigma series risk dialogue series focus reports Life&Health Swiss Re 20, 21 June 2007 www.swissre.com

  9. Risk transfer Balance-sheet management Expertise in capital and risk Single risk Whole company Portfolio of risks • Reinsurance underwriting • Risk management services • Claims • Enhance underwriting capacity • Optimise use of capital • Stabilise after-tax earnings • Improve ROE • Optimise cash management Life&Health Swiss Re 20, 21 June 2007

  10. L&H in Central Eastern Europe (CEE) as an example for CIS Macroeconomic Situation Premium Volume Portfolio Mix Growth Major Players Perspectives Swiss Re Services Life&Health Swiss Re 20, 21 June 2007

  11. Only1% of the European Life Insurance is written in CEE EUR bn Share of CEE in EuropeGDP: 12%NL: 8%L: 1% 2006 preliminary figures Russia: Life Insurance without salary scheme business Source: Economic Research & Consulting Life&Health Swiss Re 20, 21 June 2007

  12. 90% of the regional Life Premium Income is generated in Central Europe GDP 2006: EUR 1`637bn Life Insurance Premium 2006: EUR 11.1 bn Russia: without salary scheme business, preliminary data Sources: WIIW, Insurance Regulator, Insurance Association, Swiss Re Economic Research & Consulting

  13. almost 2% of Gross Domestic Product is spent for Life Insurance Life Insurance Premium/GDP (2006), preliminary data * Russia: Without short term salary scheme business Life&Health Swiss Re 20, 21 June 2007 Sources: Insurance Regulator, Insurance Association, Swiss Re Economic Research & Consulting

  14. …the Share of Risk is accordingly low EUR bn 2006 Data * Russia: Without short term salary scheme business Life&Health Swiss Re 20, 21 June 2007 Source: Swiss Re Economic Research & Consulting

  15. Foreign Insurers dominate theLife Insurance Business Market share of Life Insurer with foreign contribution of capital of 50% or higher (2004) Life&Health Swiss Re 20, 21 June 2007 Sources: Insurance Regulator, Insurance Association, Swiss Re Economic Research & Consulting

  16. Strong economic growth expected Life&Health Swiss Re 20, 21 June 2007 Sources: WIIW, Oxford Economic Forecasting Ltd, Swiss Re Economic Research & Consulting

  17. Wealth will increase – departing from low levels EU-15 average GDP per capita at Purchasing Power Parity Life&Health Swiss Re 20, 21 June 2007 Source: WIIW

  18. Central Europe with two digit Growth Rate Index 1991 = 100 15% 11% -18% CAGR 1992-2006 Sources: InsuranceRegulator, Insurance Association, Swiss Re Economic Research & Consulting

  19. Strategic challenges Strategic challenges Key issues Fast evolving insurance corporate landscape • Market entry of international companies • Competition • Consolidation/M&A • Development of insurance infrastructure • New exposures, higher sums insured • eg mortality risk Insurance risks and risk transfer Increase insurance penetration • Incentives for private sector solutions • Implement best practice regulation • Data State support & regulatory compliance

  20. Agenda Introduction & history Principles & Organization Competitive strengths Facts , figures & Outlook Swiss Re L&H in Central Eastern Europe (CEE) Swiss Re Services Life&Health Swiss Re 20, 21 June 2007

  21. Swiss Re Services • Swiss Re is well-known for services provided to its clients based on needs and combines in-depth global expertise with a local focus, tailored to the individual demands of our clients • As most members of our life reinsurance marketing teams are qualified actuaries, our clients are in a position to receive regular on the spot actuarial advice, as well as benefiting from discussions with a well-informed technically-able partner. Life&Health Swiss Re 20, 21 June 2007

  22. Swiss Re Services • Design and pricing of innovative and competitive products,conduct experience studies to broaden our experience data basis • Underwriting Supportto meet our clients’ underwriting needs We provide a tailored underwriting service, including specialist medical knowledge or advice on difficult cases We also advise on optimizing the costs and benefits of the underwriting process and maintaining adequate risk management protocols Life&Health Swiss Re 20, 21 June 2007

  23. Swiss Re Services • Life Guide – Swiss Re’s internet-based underwriting manual highly valuable tool for the day-to-day underwriting assessment and decision-making process Produced by Swiss Re’s global team of expert medical doctors, researchers, statisticians and underwriters Life&Health Swiss Re 20, 21 June 2007

  24. Swiss Re Services • Magnum – Interactive underwriting Swiss Re has harnessed technology to effectively automate the underwriting process and create one of the world's leading life and health underwriting systems this real-time tool adds value to our clients by bringing lower underwriting costs, faster turnaround and a better service for all parties in the value chain Magnum ensures that the customer can be given a swift decision. Life&Health Swiss Re 20, 21 June 2007

  25. Swiss Re Services • Support in Claims Management We offersupport of our client's claims management activity, provide valuable input from the claims perspective into product development initiatives . Through seminars and individual company workshops, we are committed to providing professional training and development for our clients, aimed at building a sound knowledge base of best claims practice. Life&Health Swiss Re 20, 21 June 2007

  26. Swiss Re Services • Training and SeminarsSwiss Re organizes highly professional seminars for its clients. Round table events andseminars on a specific topic or for a specific client satisfying the actual needs of a particular insurance company Swiss Re Academy We offer a comprehensive training portfolio to continue providing world-class client training Life&Health Swiss Re 20, 21 June 2007

  27. Swiss Re Services • Publications and News (http://www.swissre.com) There is a wealth of materials available at Swiss Re for the use and benefit of our clients • summarized in our booklet “Swiss Re Publishing” • Our regular publications “Sigma” and “Insights” • Our worldwide network of specialists, increasingly “networked” for better communication • Our web-page (www.swissre.com) Life&Health Swiss Re 20, 21 June 2007

  28. Questions? Thank you for your attention www.swissre.com Miroslaw_Kowalski@swissre.com

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