AVIATION our targets

Transcription

1 AVIATION our targets Milan, July 2010

2 a changing Partner From past experience to future challenges

3 History... Performance Target Aviocons was established in 2012 in Milan/Genoa, Italy. The passion and experience of its members for Insurance and Aviation gave birth to an idea. Open the doors of the microcosm of Aviaton world to insurance advise. Networking the knowledge of people and activities from the world industrial commercial leisure activities to the world of aviation insurance and vice versa. Client-oriented approach combined to transparency to the insurance companies. Study the Insurance market and give the best answers to our accounts. Aviocons has two different locations (Genoa, Milan). Major shareholders: Angelo Golzi (private investor) Alberto Mariotti (private investor)

4 Our targets 1. Becoming a market player in highly specialized lines of business: Aviation 2. Making insurance products that meet customer needs (as far as possible) and balance of management and technical insurance Partners.

5 The classes we write G.T.P.L. Personal Accident & Health Motor P.D. Liability Marine (H & C) Property Motor T.P.L. (carriers liability only) Aircraft/Helicopter: Hull and Liability Premises and Hangar keeper Liability

6 The classes we write Product Liability (Aviation) Pilot's loss of Licence Assistance Legal Assistance Loss of Money Bonds Property G.T.P.L. (Marine Hulls)

7 Distribution Channels Composition Aviocons distribution network: Account s 121 Broker /Agents 11 Banks 1 Leasing Co 1 (co-broking) Centre Premium Income 2011: EURO DIRECT EURO CO-BROKING South & Islands Territorial spread: North 80% Centre 17% South 3% 7 Direct Co-brokng

8 Business Plan Premium Income Distribution Target Premium Income 2012 in total : EURO Aviation EURO Development of new channels (internet) Extension of distribution network in the most profitable geographical areas Technical Areas Cancellation of unprofitable business Gross Claims Ratio below 60% Further improvement of claim settlement speed To stregthen our relationship with the best intermediaries To cease our relationship with the companies /accounts no longer in line with our standards HR I.T. Implementation for accounts Cooperation with insurance companies Staff increase Filling job positions currently ad interim by hiring people with high and specific expertise Strong training programmes to reinforce individual skills 8

9 Aviation

10 0 Aviation International Overview The Airlines scenario shows that Leading Reinsurers rates for this segment have gone up to + 10%, whereas the final prices paid by the clients are in the region of +5%, due to the VERTICALIZATION. The decrease in both the number of passengers and the Hull Sums Insured smoothens rate increases. Many Aviation Airline reinsurers have been seeking opportunities in the General Aviation segment, and have started writing heavily the G.A. The result is a large overcapacity. For this reason, there is no direct relation between the rate increases reported in both Airline and G.A. segments. In the G.A. segment the following trends are reported: FIXED WINGS: rate increases up to 3% ROTORS: rate increases between 2,5% and 5% Product Liability: the market is rather stable Airport Liability: significant reductions are to be noted

11 1 Aviation in the Italian market 60% of the Aviation market is concentrated in the hands of one player (Generali). The remaining 40% of the Aviation market is written by AGC&S, AXA CS, Fon-SAI and Satec Aviation

12 2 FARO Aviation: Targets and Appetites General Aviation: Our no.1 target It definitely falls within our risk appetite. Italian General Aviation is worth mln Euro premium. We are only attracted by middle-sized aircrafts, business aircrafts and helicopters previously used in industrial aid or TPP business. Although G.A. is a very competitive segment, there are large local opportunities to write good risks at satisfactory margins with an opportunistic approach, a careful risk selection, the underwriting experience and very good relationship with important clients and Aviation insurance players. Airlines: Our target: middle size airlines This segment accounts for the industry s largest share of the Italian aviation premium. We shall buy fac reinsurance to protect this segment of our future portfolio Products: Our target: positioning with small shares, aiming at the Suppliers. Due to the long-tail liabilities associated with product liability risks, this segment of the market has not enjoyed the significant rate reductions seen in other areas. Insurers continue to write this segment carefully and rate changes leave smaller margins. Airports and Service Providers: Our target: small size airports This segment represents a relatively small share of the overall market premium..service Providers are the smallest segment in the local Aviation market.

13 3 Aviation Location: Aviocons, Aviation Department is located in Milan. Management: Aviation Department is led by ANGELO GOLZI. Angelo, born in has worked over two decades in the local Aviation insurance market. He has been Head of the Aviation Department of Allianz in Italy for many years, and has recently worked as Aviation consultant for Marine & Aviation Brokers in Milan, Ariscom in Rome, Faro in Milan/Genoa. Staff: the Aviation team guided by Angelo Golzi will include: 1-2 junior employees (to be trained personally by Angelo Golzi), 1 dedicated claim handler IT System: an implementation is in the pipeline to support the Aviation underwrwriting and claims handling Legal: technicians and lawyers for claim litigation will be used: AS&T Bologna Prof. Avv. Anna Masutti (lawyers) Avv. Giulia Mauri - Bruxelles E-VALUATING Milano. Ing. Di Biagio STUDIO CAPERDONI - Varese

14 4 ALL AMOUNTS IN EURO BUSINESS PLAN Year Rotor Fixed P.L. Airport Handlers Product Premium 55% 45% 15% 5% 5% 5% Loss ratio Rotor Fixed P.L. Airport Handlers Product Premium 55% 45% 15% 5% 5% 5% Loss ratio Rotor Fixed P.L. Airport Handlers Product Premium 55% 45% 15% 5% 5% 5% Loss r.

15 5 Aviation Insurance Products Hull (Material Damage) Third Party Liability Passenger Liability Hull War War Liabilities Passenger & Crew personal accident Hangar-keepers & Aerodrome Liability Maintenance & Repairers Liability Products Liability Airside Liability Aviation Events/Meeting TPL Airside Motor Liability Loss of Licence Professional Liability NEW (accountable managers post holder) Instructor Liability & School Liability

16 6 We are discussing for all class of business with AOPA Italy FIVU Federazione Italiana Volo Ultraleggero Our actual partner: AXA Corporate Solutions AGC&S SATEC GENERALI KAIROS AG LLOYD S CV STARR Our most important accounts > Eliwork (rotor), Aeroclub Milan (fixed), L Aquila Airport, XPH (handler), AMS Alitalia Manteinance System (product, cobroking), ICP (ulm product liability) and so on!

17 7 OUR MANIFESTO We garantee Seriousness Professionalism Competence Transparency Aviocons Ltd. pays special attention to their ability to listen and analyze and develop solutions, working with the companies in the drafting of texts, appropriate to the needs of customers, provides the lookout for new insurance markets solid and reliable, the study and design of new policies tailored customer. Aviocons srl is effectively an insurance intermediary that provides a 360 service, able to give prompt and substantive responses to customers. We asking the same to our Insurance partners.

18 8 PLEASE COME ON BOARD