1 / 23

Weather Risk Management In the Acceding Countries Dan Tomlinson WRMA London 5 November 2004

Weather Risk Management In the Acceding Countries Dan Tomlinson WRMA London 5 November 2004. Who am I to be talking about this?. Local office means local knowledge. We have more than one reason to be talking to these people. A selection of Primary risk management products:. Plus XL Re.

kostya
Download Presentation

Weather Risk Management In the Acceding Countries Dan Tomlinson WRMA London 5 November 2004

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Weather Risk ManagementIn the Acceding CountriesDan TomlinsonWRMA London 5 November 2004

  2. Who am I to be talking about this? Local office means local knowledge

  3. We have more than one reason to be talking to these people. A selection of Primary risk management products: Plus XL Re

  4. Who are the Acceding countries? On May 1st 2004, ten EU acceding countries, namely Cyprus, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, the Slovak Republic and Slovenia joined the European Union.

  5. Where are the Acceding countries? This is nothing new!

  6. What are these countries like?Look at agriculture:

  7. Going down:

  8. On the Up:

  9. Is there Data? The first thing you ask. Accession is a new thing, what about historic data? Where do you get it? How much does it cost? Is it any good?

  10. WMO Stations

  11. Before 1990 All Russian Institute of Hydrometeorological Information – World Data Centre

  12. Centralised Accessible data 233 former USSR Stations

  13. Local Met Services

  14. An Interesting Pricing Methodology Lithuania: > > Hi xxxxx, > > > > Would I be right in saying that for data from 1 Jan 1993 to 1Dec 2003 is: > > 3986 days so 7972 data points for Tmax and Tmin. There are 3.45 LTL to a > > Euro and it is 4.17 LTL + vat per data point. So that is roughly 1.208 > Euro plus vat per data point. > > > > So Eur 9635 + vat for that data. > > 50 years of data would be close to 50 thousand Euros? > > > > Thanks > > Dan

  15. An Interesting Pricing Methodology Poland: Dear Mr. Tomlinson due to unforeseen circumstances I was unable to answer your e-mail till today. Sorry for such a delay. Please find here enclosed an offer of our data. The historic data of 53 years plus 3 months of this year (from 1951 to march 2004) from one meteorological station x 3 weather elements: a) Tmax, b) Tmin c) total rainfall costs 12 600 EURO. The price is for a Single End User with no redistribution rights. The price includes all possible discounts. We reserve the right to price change. Sincerely Yours xxxxxxxxxxxxxxxx Marketing specialist Instytut Meteorologii i Gospodarki Wodnej ul. Podlena 61; 01-673 Warszawa

  16. Data

  17. Not all this Expensive • Turnaround time not bad • Generally not too expensive • Metadata Information available • Daily updates available • Historic Data of good quality

  18. What difference does a border make to the weather?

  19. So who are the companies looking at it? (and yes, sometimes doing it!) • Energy companies in the lead • Young risk managers • Entrepreneurial spirit • World Bank activities

  20. Summary • Language problems • Economy problems • Currency problems • Aggregation of risk problems • Data costs and access • Little prior history of risk management • Uncertain legal environment

  21. Summary • But hey, doesn’t that sound exactly like what we encounter every day all over the world?

  22. Contact Dan Tomlinson +44 20 7933 7781 (W) +44 7973 426 233 (M) dan.tomlinson@xlgroup.com www.xlwe.com

  23. This document is not to be reproduced in whole or in part nor used for purposes except as authorized by an XL Capital Ltd company. This document is to be treated as strictly confidential and it is not to be disclosed, directly or indirectly, to any other person, firm or entity. All information contained in this document is proprietary to the XL Capital Ltd group of companies. XL Capital and the authors of these materials contained in this document are not providing tax, accounting or legal advice and you/your company should rely on your/its own accounting, tax and legal advisors for definitive guidance as to the applicability of this information to specific circumstances. Although the information contained herein is believed to be reliable, XL Capital makes no representation as to the accuracy and completeness of any information contained herein or otherwise provided by the XL Capital group of companies. The XL Capital group of companies accept no liability for any inaccuracies, errors, omissions or incomplete information in these materials nor for any damages whatsoever resulting from whatever cause through any person’s use of or reliance upon the materials and information contained in this document. The terms set forth herein are intended for discussion purposes only, are not an offer or commitment to enter into any transaction of any kind and are subject to the final expression of the terms of the transaction as set forth in a definitive agreement and/or confirmation. Please note that this document is presented to you on the understanding that this document shall not be disclosed, directly or indirectly, to any other person, except to your employees, agents and advisors who are directly involved in the consideration of this document and then only on the basis that they hold the document on strictest confidence.

More Related