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Risk management – a journey from the merely unlikely to the totally unpredictable

Risk management – a journey from the merely unlikely to the totally unpredictable. Enrico Bertagna Head of Southern, Eastern Europe & Africa General Representative for Italy II Università di Napoli 15 April 2012. WHAT Is lloyd’s?. 1400 s. 1500 s. 1600 s. 1700 s. 1800 s. 1688.

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Risk management – a journey from the merely unlikely to the totally unpredictable

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  1. Risk management– a journey from the merely unlikely to the totallyunpredictable Enrico Bertagna Head of Southern, Eastern Europe & Africa General Representative for Italy II Università di Napoli 15 April 2012

  2. WHAT Is lloyd’s?

  3. 1400s 1500s 1600s 1700s 1800s

  4. 1688 2013 Lloyd’s established

  5. 1600s 1700s 1800s 1900s 2000s

  6. 1805 2013 Lloyd’s and Nelson

  7. 1800’s 2013 Entrepreneurialism in the 19th Century

  8. 1600s 1700s 1800s 2000s 2010s

  9. Lloyd’s is a catalyst for Innovation

  10. Lloyd’s firsts The motorcar Commercial space flight Aviation Terrorism

  11. contract Certainty • Reinsurance • claims academy Other firsts

  12. Role of Insurance In society

  13. Lloyd’sinsures against natural disasters around the world covering everythingfrom injury to property damage Whateverthe force of nature and its devastating consequences

  14. Crucial to society

  15. Imagine a world Without insurance

  16. insurance Is not banking

  17. Banks lend before they borrow Insurance is pre-funded

  18. What we learnt Risk Management Standards Franchise structure

  19. Underwriting discipline

  20. 2012 financial results € 3,41 mld Profit before tax 91,1% Combined ratio Despite claims from superstorm sandy (€ 1,7mld)

  21. How the market works

  22. A dynamic and diverse market As at 31 December 2012, the Lloyd’s market was home to 57 managing agents that manage 87 live syndicates. Source: Lloyd’s Annual Report 2012

  23. Market structure Our unique structure creates a market based on trusted relationships and expertise Source: Lloyd’s Annual Report 2012

  24. The risk

  25. The broker

  26. Theunderwriters

  27. The capital The policy

  28. Claims paid

  29. The risk The broker Theunderwriters The capital The policy Claims paid

  30. The world is A Risky place… …insurance Understanding risk

  31. THE SCIENCE OF RISK

  32. Insurance A second pair of eyes

  33. Top 10 Risks

  34. TOP RISKS REGIONALLY

  35. Lowest 10 Risks

  36. The Insurers of the future • Security • Global Reach • foresight

  37. Growing premium income from established markets in line with their economic growth with greater growth in new markets. Lloyd’s to be the global centre for specialist insurance and reinsurance

  38. A more diversified capital base, with a greater contribution from high growth economies. By 2025 Lloyd’s will be the global centre for specialist insurance and reinsurance

  39. A truly internationalised underwriting community. By 2025 Lloyd’s will be the global centre for specialist insurance and reinsurance

  40. A broker market, utilising brokers’ international networks. By 2025 Lloyd’s will be the global centre for specialist insurance and reinsurance

  41. With powerful overseas hubs in certain major overseas markets. By 2025 Lloyd’s will be the global centre for specialist insurance and reinsurance

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