Rate Adequacy Index for Commercial Lines Commercial Lines Pricing Seminar August Copyright 2012 Finity Consulting
|
|
- Dwight Gibson
- 5 years ago
- Views:
Transcription
1 Rate Adequacy Index for Commercial Lines Commercial Lines Pricing Seminar August 2012 Copyright 2012 Finity Consulting
2 Estimated Underwriting Profit Is actual profit sending the right signals? 3 25% 15% 1 5% -5% -1-15% - Estimated Underwriting Profit- ISR U/w profit Source: Approximate. Estimated by Finity, using ISA data Slide 2
3 U/w profit Actual profit can be materially different to underlying performance Estimated u/w profit vs Underlying u/w profit- ISR 3 25% 15% 1 5% -5% -1-15% U/w profit Underlying u/w profit Source: Approximate. Estimated by Finity, using ISA data Slide 3
4 What is a Rate Adequacy Index? Premium Achieved Required Technical Premium Rate Adequacy Assess: Per risk Per segment Per portfolio Slide 4
5 Rate Adequacy Index ISR Rate Adequacy Index 14 ISR Rate Adequacy Index Rate Adequacy Index Target Source: Approximate. Estimated by Finity, using ISA data Slide 5
6 Some calculation challenges Portfolio calculation vs risk based calculation Need technical rates for risk based calculation Changes to risk (eg. Excess levels) Cross subsidies Dealing with changes in estimate of technical costs Changes in reinsurance costs Slide 6
7 Who uses RAI? Great Britain 29 Australia United States 7 46 Required for all Lloyds Syndicates Most non-lloyds insurers also have RAI Limitations as most don t see a real technical price Limited visibility. Used by actuaries and sometimes underwriters but rarely flowed up to management Some insurers only Some reinsurers Varying levels of detail Varying visibility within organisation Assessment of rate changes (rather than adequacy) common Evidence of technical RAI approaches in the industry * Medal allocation based on the MAP Methodology by Brian Dawes Slide 7
8 What is RAI used for? Strategic decision making Portfolio management decision making Rate decisions by underwriters Useful to actuary for liability valuation models, including premium liability and price adequacy assessment in FCR By reinsurers to assess required rate for portfolio Rewarding staff Slide 8
9 Cents per $100 SI Cents per $100 SI ISR Technical Premium Components $0.06 Non-Natural Perils Cost $0.06 Weather Cost $0.05 $0.05 $0.04 $0.04 $0.03 $0.03 $0.02 $0.02 $0.01 $0.01 $- $- Source: ISA data Source: ISA data Selected average non-natural peril cost Selected average weather cost (exc. cats) 4 cents per $100 SI 0.7 cents per $100 SI Slide 9
10 cents per $100 SI cents per $100 SI ISR Technical Premium Components $0.025 Net CAT Cost $0.025 CAT RI Cost $0.020 $0.020 Actual Selected $0.015 $0.015 $0.010 $0.010 $0.005 $0.005 $- $- Source: ISA data, Finity estimates Source: JP Morgan Survey Selected average net CAT cost Selected average CAT RI cost 0.6 cents per $100 SI around 0.9 cents per $100 SI Slide 10
11 ISR Technical Price Components Net Cost of Other Reinsurances Nil Other Expenses 1.2c per $100 SI (equivalent to 15% of premium) Commission 1 of Premium Target Underwriting Profit 5% of Premium Slide 11
12 cents per $100 SI cents per $100 SI ISR Actual Cost vs Technical Cost $0.14 $0.12 $0.10 $0.08 $0.06 $0.04 $0.02 $- Actual Cost Attritional Weather CAT (Retained) CAT RI Cost Commission Other Expenses Profit $0.14 Actual Cost vs Selected Cost $0.12 $0.10 $0.08 $0.06 $0.04 $0.02 $- Slide 12 Actual Costs Selected Cost
13 Rate Adequacy Index ISR Rate Adequacy Index 14 ISR Rate Adequacy Index Rate Adequacy Index Target Source: Approximate. Estimated by Finity, using ISA data Slide 13
14 Mix of Cost Mix of Cost SME vs ISR Technical Cost 10 ISR Selected Cost 10 SME Selected Cost Attritional Weather CAT (Retained) CAT RI Cost Commission Other Expenses Profit Attritional Weather CAT (Retained) CAT RI Cost Commission Other Expenses Profit Source: Approximate. Estimated by Finity, using ISA data Slide 14
15 Rate Adequacy Index Rate Adequacy Index SME vs ISR Rate Adequacy Index 14 ISR Rate Adequacy Index 14 SME Rate Adequacy Index Rate Adequacy Index Target Rate Adequacy Index Target Source: Approximate. Estimated by Finity, using ISA data Slide 15
16 Rate Adequacy Index Rate Adequacy Index Rate Adequacy Index Rate Adequacy Index SME Rate Adequacy Index State Comparison Australia Rate Adequacy Index Target New South Wales Rate Adequacy Index Target 16 South Australia 16 Queensland Rate Adequacy Index Target Rate Adequacy Index Target Slide 16
17 Benefits of an RAI Provides a common view across organisation of true profitability Not distorted by weather/large claims experience More disciplined portfolio management Normalises for changes in risk profile Greater scrutiny on technical rates Forward indicator of profitability Slide 17
18 Questions Slide 18
19 Presenters About Finity Presenter Tim Andrews Phone tim.andrews@finity.com.au Sydney office Finity is a leading actuarial and management consulting firm to the general and health insurance industries. We employ around 80 professional staff in Australia and New Zealand. For more information, see our website at or contact us here: Australia Sydney Level 7, 155 George St The Rocks, NSW 2000 Melbourne Level 3, 30 Collins Street Melbourne, VIC 3000 New Zealand Auckland Level 27, 188 Quay St Auckland 1010 Wellington Level 16, 157 Lambton Quay Wellington 6140 Slide 19
20 Disclaimer Disclaimer provided by Finity Consulting Pty Limited ( Finity ) This presentation has been prepared for the Finity Commercial Lines Pricing Seminar held on 27 August Finity wishes it to be understood that the information presented at the seminar is of a general nature and does not constitute actuarial advice or investment advice. While Finity has taken reasonable care in compiling the information presented, Finity does not warrant that the information provided is relevant to a particular reader s situation, specific objectives or needs. Finity does not have any responsibility to any attendee at the conference or to any other party arising from the content of this presentation. Before acting on any information provided by Finity in this presentation, readers should consider their own circumstances and their need for advice on the subject Finity would be pleased to assist. Slide 20
Natural Perils Pricing When coming closer together means being further apart Tim Andrews & Stephen Lau
Natural Perils Pricing When coming closer together means being further apart Tim Andrews & Stephen Lau Finity Personal Lines Pricing and Portfolio Management Seminar 30 April 2015 2015 Finity Consulting
More informationReady, Set, LAGIC! [ APRA regulation ] In this edition. Summary: The Changes
d finitive Keeping you informed. DECEMBER 2012 [ APRA regulation ] Ready, Set, LAGIC! APRA s new capital framework LAGIC is finally complete, and comes into effect on 1 January 2013. APRA has made a series
More informationGood news all around, for the most part, but new forms are due to APRA on 30 September not far away!
APRA s prudential reporting changes Good news all around, for the most part, but new forms are due to APRA on 30 September not far away! On the 23rd of June APRA issued the final version of new reporting
More informationNZ Insurance - Prudential Regulation. Unanimous Agreement. at least from the Select Committee
NZ Insurance - Prudential Regulation Unanimous Agreement at least from the Select Committee The Insurance (Prudential Supervision) Bill is continuing its journey through the legislative process with the
More informationAPRA Capital: What s ahead for General Insurers?
APRA Capital: What s ahead for General Insurers? APRA released a discussion paper in mid May on the capital standards for life and general insurers. The paper highlights two aims. The first is to improve
More informationPersonal Lines Pricing & Analytics Seminar 2018
Personal Lines Pricing & Analytics Seminar 2018 Tuesday 22 May 2018 1 Affordability of insurance for natural perils Stephen Lau 2 Objective for this presentation Assess the affordability of home insurance
More informationOptimaLite. General Insurance Insights 2017
General Insurance Insights 2017 1 Welcome to OptimaLite Following on from the ten years of success of Pendulum, this key state of the industry document has returned in 2017 as Optima. Optima explores the
More informationAn Approach to Pricing Natural Perils
17th An Approach to Pricing Natural Perils Tim Andrews David McNab Ada Lui Finity Consulting Pty Ltd 2010 Why is everyone talking about the weather? The Melbourne and Perth storms were further evidence
More informationFor personal use only
To Notice given in accordance with Corporations Act Subsection 259C(2) Exemption Market Announcements Office Australian Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000 1. Name of Company Australia
More informationACE INSURANCE LIMITED ABN and CHUBB INSURANCE COMPANY OF AUSTRALIA LIMITED ABN
ACE INSURANCE LIMITED ABN 23 001 642 020 and CHUBB INSURANCE COMPANY OF AUSTRALIA LIMITED ABN 69 003 710 647 SUMMARY OF SCHEME UNDER DIVISION 3A OF PART III OF THE INSURANCE ACT 1973 (CTH) FOR THE TRANSFER
More informationINSURANCE AUSTRALIA GROUP LIMITED ABN HALF YEAR REPORT 31 DECEMBER 2010 APPENDIX 4D
INSURANCE AUSTRALIA GROUP LIMITED ABN 60 090 739 923 HALF YEAR REPORT 31 DECEMBER 2010 APPENDIX 4D CONTENTS Page No Results for announcement to the market 1 Other information 2 Appendix 4D compliance matrix
More informationPeer Review of Actuarial Report on Scheme Transfer
Peer Review of Actuarial Report on Scheme Transfer Chubb Insurance Company of Australia Limited, and ACE Insurance Limited 2016 Finity Consulting Pty Limited 17 Mr John French Country President Australia
More informationDevelopments. Dust Diseases
November 2017 Dust Diseases Developments Dust Diseases Developments brings you the latest happenings in Australian asbestos and dust diseases compensation. You may have seen it before as Asbestos News.
More informationFor personal use only
To Notice given in accordance with Corporations Act Subsection 259C(2) Exemption Market Announcements Office Securities Exchange Level 4 20 Bridge Street SYDNEY NSW 2000 1. Name of Company Australia and
More informationTerrorism Insurance Act 2003 Update
Terrorism Insurance Act 2003 Update September October 2003 2003 W As you would be aware, following the events of September 11, most commercial insurers in Australia excluded terrorism-related claims, leaving
More informationCONTENTS. 2 Introduction 3
2017 FNZ USER GUIDE CONTENTS 2 Introduction 3 3 General information regarding your investments 4 3.1 Taxation of financial arrangements 4 3.1.1 Resident Withholding Tax on interest income 4 3.1.2 Tax reports
More informationRedress and Civil Liability
July 2018 Child Sexual Abuse Redress and Civil Liability On 19 June 2018, more than 5 years after the commencement of the Royal Commission into Institutional Responses to Child Sexual Abuse (the Royal
More informationReview of Claims Trends for Liability Insurance in Australia
Review of Claims Trends for Liability Insurance in Australia Prepared by Kundan Misra, Maggie Liu and Clement Peng Presented to the Actuaries Institute General Insurance Seminar 17 18 November 2014 Sydney
More informationProfessional Indemnity Forum 2009 An Actuary's Analysis of the PI Market 7 July 2009
Professional Indemnity Forum 2009 An Actuary's Analysis of the PI Market 7 P w C Section one Profitability Stability and Turmoil Impact of Solvency II Top Tips How to get things right Profitability Stability
More informationIAG announces FY08 result in line with July guidance and reports progress with implementation of operating model
MEDIA RELEASE 22 AUGUST 2008 IAG announces FY08 result in line with July guidance and reports progress with implementation of operating model Insurance Australia Group Limited (IAG) today announced a net
More informationFOR IMMEDIATE RELEASE
Article No. 7839 Available on www.roymorgan.com Link to Roy Morgan Profiles Monday, 21 January 2019 Far more Australians expect a troubled than a peaceful 2019 A special Roy Morgan web survey taken in
More informationFinancial Services Guide
Financial Services Guide JLT Discretionary Trust (JDT) Arrangement April 2017 The JDT Arrangement is a well-established proven alternative to standard insurance for many companies throughout Australia.
More informationFinancial results. Full year ended 30 June Nick Hawkins Chief Financial Officer. Peter Harmer Managing Director and Chief Executive Officer
Financial results Full year ended 30 June 2017 Peter Harmer Managing Director and Chief Executive Officer Nick Hawkins Chief Financial Officer 23 August 2017 Overview Peter Harmer Managing Director and
More informationPricing and Underwriting for Class Actions
Pricing and Underwriting for Class Actions Susie Amos, Patrick Zhang Finity Consulting Pty Ltd 2014 This presentation has been prepared for the Actuaries Institute 2014 General Insurance Seminar. The Institute
More informationQBE Insurance Group annual results presentation. John Neal Group Chief Executive Officer Pat Regan Group Chief Financial Officer
QBE Insurance Group 2015 annual results presentation John Neal Group Chief Executive Officer Pat Regan Group Chief Financial Officer Tuesday 23 February 2016 All figures in US$ unless otherwise stated
More informationIs life in Sydney getting better? SGS Seminar Series 13 October 2015
Is life in Sydney getting better? SGS Seminar Series 13 October 2015 Event speakers Tim Williams, CEO Committee for Sydney Sue Weatherley, Director Strategic Outcomes and Development Parramatta City Council
More informationPremium Liabilities. Prepared by Melissa Yan BSc, FIAA
Prepared by Melissa Yan BSc, FIAA Presented to the Institute of Actuaries of Australia XVth General Insurance Seminar 16-19 October 2005 This paper has been prepared for the Institute of Actuaries of Australia
More informationRisk Mitigation and the role of (re)insurance
Risk Mitigation and the role of (re)insurance Michael Eberhardt, CFA < copyright name, company or Institute> This presentation has been prepared for the Actuaries Institute 2016 Managing Extreme Events
More informationFinancial results. Half year ended 31 December Nick Hawkins Chief Financial Officer. Peter Harmer Managing Director and Chief Executive Officer
Financial results Half year ended 31 December 2017 Peter Harmer Managing Director and Chief Executive Officer Nick Hawkins Chief Financial Officer 14 February 2018 Overview Peter Harmer Managing Director
More informationG R O W I N G TO G E T H E R
2 MAY 2018 1Q18 FINANCIAL RESULTS PRESENTATION G R O W I N G TO G E T H E R 2018 Genworth Mortgage Insurance Australia Limited. All rights reserved. Disclaimer This presentation contains general information
More informationRenewal Declaration. Real Estate Agents
Renewal Declaration Real Estate Agents Important Notices Please read these notices before completing the Renewal Declaration. Your Duty of Disclosure Before you enter into an insurance contract, you have
More informationTaylor Fry Newsletter 3 on the APRA Capital Update February Time for action on APRA changes
Taylor Fry Newsletter 3 on the APRA Capital Update February 2012 The APRA capital standards review is now at a stage where you, as general insurers, can get a fair idea of the potential implications of
More informationThe New India Assurance Company Limited New Zealand Branch Appointed Actuary Report Summary For the year ended 31 March 2016 To the Shareholders of The New India Assurance Company Limited New Zealand Branch.
More informationOUTDOOR EDUCATION OPERATORS AND CORPORATE TRAINING BROADFORM LIABILITY PROPOSAL
OUTDOOR EDUCATION OPERATORS AND CORPORATE TRAINING BROADFORM LIABILITY PROPOSAL Level 5, 97-99 Bathurst Street, Sydney NSW 2000 PO Box A2016, Sydney South NSW 1235 Phone: (02) 9307 6600 Fax: (02) 9307
More information48 TH INTERNATIONAL REINSURANCE STUDY COURSE ( RiSC ): REINSURANCE IN PRACTICE YEAR
2015 INTERNATIONAL REINSURANCE STUDY COURSE ( RiSC ): REINSURANCE IN PRACTICE 48 TH YEAR 23 26 AUGUST 2015 SEBEL RESORT & SPA, HAWKESBURY VALLEY WAY (RICHMOND ROAD) WINDSOR NSW 2756 OVERVIEW Now in its
More informationTITLE SLIDE IS IN SENTENCE CASE.
TITLE SLIDE IS IN SENTENCE CASE. GREEN George Culmer, Chief BACKGROUND. Financial Officer GOLDMAN SACHS FINANCIALS CONFERENCE Andrew Bester, Chief Executive Officer, Commercial Banking 17 00 June Month
More informationFinancial Services Guide.
Financial Services Guide. Money made simple. Wealth Market Pty Ltd Level 17, 135 King Street, Sydney NSW 2000 AFSL No. 482898 ABN 56 128 350 112 P 1800 011 471 E hello@wealthmarket.com wealthmarket.com
More informationValuation of the Social Housing System
Valuation of the Social Housing System As at This report has been produced for the Ministry of Social Development Alan Greenfield Fellow of the Institute of Actuaries of Australia Hugh Miller Fellow of
More informationSuperRatings Consulting Services
SuperRatings Consulting Services Bharad Swaminathan Bharad.Swaminathan@superratings.com.au +61 3 9623 6368 Scott Abercrombie Scott.Abercrombie@SuperRatings.com.au +61 2 8651 6791 Bill Buttler Bill.Buttler@superratings.com.au
More informationSuncorp Group Limited
Suncorp Group Limited Financial results for the half year ended 31 December 2013 1 Suncorp results presentation Agenda Results & operational highlights Patrick Snowball CFO report Steve Johnston Outlook
More informationCONTINUING PROFESSIONAL DEVELOPMENT
CONTINUING PROFESSIONAL DEVELOPMENT Requirements for members From July 2012 taxinstitute.com.au Why do you need to undertake continuing professional development (CPD)? Up-to-date knowledge and skills are
More informationFor personal use only
22 February 2017 The Manager Company Announcements Office ASX Limited 20 Bridge Street SYDNEY NSW 2000 Level 19, 31 Queen Street Melbourne VIC 3000 Australia telephone 03 8616 1957 facsimile 03 8616 1111
More informationHB 167:2006 Security risk management
Security risk management HB Handbook Security risk management First published as HB 167:2006. COPYRIGHT Standards Australia/Standards New Zealand All rights are reserved. No part of this work may be reproduced
More informationScheme under Division 3A of Part III of the Insurance Act 1973 (Cth)
Scheme under Division 3A of Part III of the Insurance Act 1973 (Cth) Zurich Australian Insurance Limited (ABN 13 000 296 640) ( Seller ) Gordian RunOff Limited (ABN 11 052 179 647) ( Buyer ) King & Wood
More informationTrade Credit Insurance Explained
Trade Credit Insurance Explained How Trade Credit Insurance from Atradius Can Accelerate Your Business Growth Reduce risk, protect your cash flow and help grow your business with credit insurance. Introduction
More informationFinancial Services Guide ( FSG )
Financial Services Guide ( FSG ) 01 April 2019 Introduction This FSG contains important information about Edge Underwriting Pty Ltd ( Edge ). This FSG is designed to help You decide whether to use the
More informationCFO Forum. Finity Boardroom - Thursday, 10 March Finity Consulting Pty Limited
CFO Forum Finity Boardroom - Thursday, 10 March 2016 2016 Finity Consulting Pty Limited Agenda Welcome General Insurance market update David Wilheim, Finity Consulting The Economic Outlook Dr Don Stammer,
More informationMorgan s Queensland Investor Conference Presentation
ASX announcement 21 Presentation Attached is a copy of the presentation made at the Morgan s 2015 Queensland Investor Conference today. Darren Solomon Company Secretary attch. Suncorp Group Ltd- ABN 66
More informationProposal Form. Real Estate Agents Professional Indemnity
Proposal Form Real Estate Agents Professional Indemnity Important Notices Please read these notices before completing the Proposal Form. Your duty of disclosure Before you enter into an insurance contract,
More informationNEW ZEALAND LAW SOCIETY & HAYS LEGAL SALARY GUIDE 2016
NEW ZEALAND LAW SOCIETY & HAYS LEGAL SALARY GUIDE 2016 A guide to salaries and recruiting trends for the New Zealand legal profession. CONTENTS INTRODUCTION 3 THANK YOU 3 FOREWORD 4 SECTION ONE: MARKET
More informationLLOYD S MINIMUM STANDARDS MS1.4 PRICE AND RATE MONITORING
LLOYD S MINIMUM STANDARDS MS1.4 PRICE AND RATE MONITORING October 2017 1 MS1.4 PRICE AND RATE MONITORING UNDERWRITING MANAGEMENT PRINCIPLES, MINIMUM STANDARDS AND REQUIREMENTS These are statements of business
More informationLooking ahead. NRMA Insurance Group Limited Concise Annual Report 2001 ABN
Looking ahead NRMA Insurance Group Limited Concise Annual Report 2001 ABN 60 090 739 923 8 12 Looking after YOU MOTOR VEHICLE INSURANCE HOME INSURANCE HEALTH INSURANCE CTP INSURANCE Looking after YOUR
More information28 February The Manager Company Announcements ASX Limited Level 6 Exchange Centre 20 Bridge Street, SYDNEY NSW 2000.
28 February 2011 QBE Insurance Group Limited ABN 28 008 485 014 Head Office 82 Pitt Street SYDNEY NSW 2000 Australia Postal Address Box 82 GPO SYDNEY 2001 Telephone: +61 (2) 9375 4444 Facsimile: +61 (2)
More informationFinancial Services Guide.
Financial Services Guide. Money made simple. Wealth Market Pty Ltd Level 17, 135 King Street, Sydney NSW 2000 AFSL No. 482898 ABN 56 128 350 112 P 1800 011 471 E hello@wealthmarket.com wealthmarket.com
More informationMYOB GROUP LIMITED ABN
MYOB GROUP LIMITED ABN 61 153 094 958 APPENDIX 4D HALF-YEAR REPORT GIVEN TO ASX UNDER LISTING RULE 4.2A.3 FOR THE 6 MONTH PERIOD ENDED 30 JUNE 2017 Item Contents 1 Details of the reporting period 2 Results
More informationTOUR OPERATOR BROADFORM LIABILITY PROPOSAL
TOUR OPERATOR BROADFORM LIABILITY Level 5, 97-99 Bathurst Street, Sydney NSW 2000 PO Box A2016, Sydney South NSW 1235 Phone: (02) 9307 6600 Fax: (02) 9307 6699 IMPORTANT INFORMATION BINDER AGREEMENT The
More information2018 Genworth Mortgage Insurance Australia Limited. All rights reserved.
2018 Genworth Mortgage Insurance Australia Limited. All rights reserved. Disclaimer This presentation contains general information in summary form which is current as at 31 December 2017. It may present
More informationLloyd s NED Reserving Forum 2017
Lloyd s NED Reserving Forum 2017 2017 Richard Rodriguez and Catherine Scullion Contents Introduction Reserving oversight at Lloyd s Reserving oversight in MAs Focus Areas Key Takeaways Questions/discussion
More informationMSM IS YOUR ADVOCATE IN THE EVENT OF ANY LOSS OR CLAIM PRE LOSS SERVICES
AUSTRALIA AND ASIA PACIFIC S PREFERRED PROVIDER OF BUSINESS INTERRUPTION, ECONOMIC LOSS CONSULTING, LITIGATION SUPPORT, CLAIMS MANAGEMENT, FORENSIC ACCOUNTING, AND RELATED SUPPORT SERVICES IS YOUR ADVOCATE
More informationRenewal Declaration. Accountants
Renewal Declaration Accountants Important Notices Please read these notices before completing the Renewal Declaration. Your Duty of Disclosure Before you enter into an insurance contract, you have a duty
More informationPSC INSURANCE GROUP LIMITED AND CONTROLLED ENTITIES ABN:
PSC INSURANCE GROUP LIMITED AND CONTROLLED ENTITIES ABN: 81 147 812 164 HALF-YEAR INFORMATION FOR THE SIX MONTHS ENDED 31 DECEMBER 2017 PROVIDED TO THE ASX UNDER LISTING RULE 4.2A.3 This half-year financial
More informationProposal Form. Directors & Offices Liability Professional Indemnity
Proposal Form Directors & Offices Liability Professional Indemnity Important Notices Please read these notices before completing the Proposal Form. Your Duty of Disclosure Before you enter into an insurance
More informationFY17 RESULTS. Tuesday 20 February 2018
FY17 RESULTS Tuesday 20 February 2018 Agenda 2017 Highlights Results 2018 Observations Out-of-Home industry APN Outdoor Contract renewals Focus and objectives Trading update 2 2017 Highlights 3 2017 highlights
More informationfinancial services guide
financial services guide CHU Underwriting Agencies Pty Ltd ABN 18 001 580 070 Financial services guide This Financial Services Guide (FSG) describes the insurance services offered by CHU Underwriting Agencies
More informationComplaints and compliments
Complaints and compliments We always want to hear from you We take pride in providing great service to our customers. However, we know sometimes things don t always work out the way they should. Because
More informationPreliminary key figures 2017 and January renewals
Image: Getty Images/fStop 6 February 2018 Jörg Schneider Munich Re (Group) Financial highlights 2017 Dividend stable at 8.60 per share 1, despite nat cat losses Price and volume increase in January renewals
More informationQuantum Property Investments
L CLASS 12 Return Quantum Property Investments I CLASS 16 Return // July 2018 // Quantum has successfully established over 27 property funds and has completed property investments & projects with a total
More informationProduct Disclosure Statement
Product Disclosure Statement The JLT (VillageWise Residents) Discretionary Trust Arrangement Distinctive. Choice. JLT GROUP SERVICES PTY LTD Version (VillageWiseResidents) 2018 Distinctive Choice JLT is
More informationAddendum Professional Indemnity Design and Construction
Addendum Design and Construction IMPORTANT NOTICES Please read these notices before completing the Addendum. Your Duty of Disclosure Before you enter into an insurance contract, you have a duty to tell
More informationSociety of Actuaries in Ireland
Society of Actuaries in Ireland Information and Assistance Note GI-1: Data checks for the purposes of Non-Life (Re)Insurance Statements of Actuarial Opinion Issued by the Society of Actuaries in Ireland,
More informationGood morning. I m delighted to be here in New York and to have the opportunity to
Good morning. I m delighted to be here in New York and to have the opportunity to speak to you about Suncorp. Today, I ll Ill give you a quick overview of who we are and where we have come from. I ll briefly
More informationWorkers. Compensation
October 2018 Workers Compensation Workers Compensation d finitive keeps you up to date with happenings in private and government schemes around Australia and New Zealand. finity.com.au In this edition:
More informationMERCANTILE INVESTMENT COMPANY LIMITED AND CONTROLLED ENTITIES ABN APPENDIX 4D HALF YEAR REPORT
APPENDIX 4D HALF YEAR REPORT RESULTS FOR ANNOUNCEMENT TO THE MARKET HALF-YEAR ENDED 31 DECEMBER 2016 (Comparative figures being the half-year ended 31 December 2015) Earnings December 2016 Up/down Movement
More information- 1 - QBE UPDATES ON PORTFOLIO SIMPLIFICATION, 2019 REINSURANCE RENEWAL AND A THREE-YEAR OPERATIONAL EFFICIENCY INITIATIVE 1
- 1 - MARKET RELEASE 11 December 2018 QBE UPDATES ON PORTFOLIO SIMPLIFICATION, 2019 REINSURANCE RENEWAL AND A THREE-YEAR OPERATIONAL EFFICIENCY INITIATIVE 1 QBE has completed the Group s portfolio simplification
More informationReinsurance Management - What creates value? Piers Maunder November 2007
Reinsurance Management - What creates value? Piers Maunder November 2007 Finity Consulting Pty Limited 2007 Reinsurance Management Companies will be targeting reinsurance savings and alternatives to traditional
More informationTax Time Monthly NOVEMBER 2017 INCOME TAX SUPERANNUATION STATE TAXES
Tax Time Monthly NOVEMBER 2017 INCOME TAX SUPERANNUATION STATE TAXES CONTENTS 1 INCOME TAX pg 3 Reduction in corporate tax rate: Draft TR 2017/D7 and legislation introduced 2 SUPERANNUATION pg 4 Binding
More informationExcess of Loss Directors & Officers Liability Insurance Policy
Excess of Loss Directors & Officers Liability Insurance Policy v12.15 Pen Underwriting Pty Ltd ABN 89 113 929 516 AFSL 290518 Our name comes from the expression to pass the pen. It reflects what we do
More information9 August 2018 MIRVAC GROUP FULL YEAR RESULTS 30 JUNE 2018
9 August 2018 MIRVAC GROUP FULL YEAR RESULTS 30 JUNE 2018 Mirvac Group (Mirvac) [ASX: MGR] today announced its full-year results for the financial year ended 30 June 2018 (FY18), with the Group delivering
More informationExcess of Loss Insurance Policy Wording
Excess of Loss Insurance Policy Wording Section 1 Preamble 1.1 Subject to payment of the Premium or as agreed in writing, We agree to provide indemnity in accordance with and subject to the terms and conditions
More informationECONOMIC CAPITAL MODELING CARe Seminar JUNE 2016
ECONOMIC CAPITAL MODELING CARe Seminar JUNE 2016 Boston Catherine Eska The Hanover Insurance Group Paul Silberbush Guy Carpenter & Co. Ronald Wilkins - PartnerRe Economic Capital Modeling Safe Harbor Notice
More informationInsights Introduction to Life Insurance Pricing. Damian Thornley, Andrew Parker, Adrian Fortescue, 15 th March 2018
Insights Introduction to Life Insurance Pricing Damian Thornley, Andrew Parker, Adrian Fortescue, 15 th March 2018 Insights Introduction to Life Insurance Pricing Group Pricing discipline Damian Thornley,
More informationDirectors Report 2-3. Interim Consolidated Statement of Financial Position 4-5. Interim Consolidated Statement of Comprehensive Income 6
ENPRISE GROUP LIMITED HALF YEAR REPORT FOR THE HALF YEAR ENDED 30 SEPTEMBER 2017 Contents Directors Report 2-3 Interim Consolidated Statement of Financial Position 4-5 Interim Consolidated Statement of
More informationGenworth Mortgage Insurance Australia
Genworth Mortgage Insurance Australia 1Q 2016 Financial results presentation 29 April 2016 2016 Genworth Mortgage Insurance Australia Limited. All rights reserved. Disclaimer This presentation contains
More informationAbout new super New Super Australia Pty Ltd ABN BRISBANE OFFICE Address Level Creek Street Brisbane Qld 4000 Postal GPO Box 419
new super Australian Superannuation and Pension Specialists Fund Establishments SMSF Accounting Pension Management Fixed Pricing Australia wide About new super New Super Australia Pty Ltd ABN 57 116 789
More informationThe Australian General Insurance Industry Where to From Here?
The Australian General Insurance Industry Where to From Here? Prepared by Andrew Cohen and Loan-Anh Nguyen Presented to the Institute of Actuaries of Australia 16 th General Insurance Seminar 9-12 November
More informationMultiplex New Zealand Property Fund
Interim financial report For the half year ended Multiplex New Zealand Property Fund ARSN 110 281 055 Table of Contents 2 For the half year ended Page Directory... 3 Directors Report... 4 Auditor s Independence
More informationDamian Vout Credit Representative Number
Credit Guide ABOUT US ( we, us, our ): Credit Representative Damian Vout Credit Representative Number 370868 Contact details: Address: 29 Murray Street Hobart 7000 Tel: 1300 265722 Fax: 03 62511604 Email
More informationBanking & Capital Markets. Banks: Prudential Regulation
Banking & Capital Markets Banks: Prudential Regulation Updated December 2007 4 Banking and Capital Markets Banks: Prudential Regulation Australia s economy has been in a period of expansion for over a
More informationINSURANCE AUSTRALIA GROUP LIMITED ( IAG ) PRESENTATION BY HEAD OF REINSURANCE TO INVESTORS
Insurance Australia Group Limited 388 George Street Sydney NSW 2000 Telephone 02 9292 9222 iag.com.au 6 May 2005 Manager, Company Announcements Office Australian Stock Exchange Limited Level 4, Exchange
More informationJBWERE CASH TRUST Product Disclosure Statement
JBWERE CASH TRUST Product Disclosure Statement This PDS is a summary of significant information, and contains references to further important information in the Fee Flyer (which forms part of the PDS).
More information2011 INVESTOR BRIEFING
2011 INVESTOR BRIEFING 14 June 2011 ABN 60 090 739 923 4 AUSTRALIA INTERMEDIATED () Accelerating growth in home markets PETER HARMER CHIEF EXECUTIVE OFFICER 30 BUSINESS OVERVIEW DIVERSE PORTFOLIO MIX Large
More informationTo privatise accident compensation schemes or not? Stakeholder views
To privatise accident compensation schemes or not? Stakeholder views Andrew Doughman Bevan Damm Peter McCarthy Ernst & Young This presentation has been prepared for the Actuaries Institute 2012 General
More informationGenworth Mortgage Insurance Australia
Genworth Mortgage Insurance Australia Full Year 2016 Financial Results Presentation 8 February 2017 2017 Genworth Mortgage Insurance Australia Limited. All rights reserved. Disclaimer This presentation
More informationFor personal use only
Form 604 Corporations Act 2001 Section 671B Notice of change of interests of substantial holder To Company Name/Scheme 3P LEARNING LIMITED ARSN 103 827 836 1. Details of substantial holder Name ACRSN (if
More informationFinancial Services Guide. Consumer Credit Related Insurance Services
Financial Services Guide Consumer Credit Related Insurance Services 1 January 2018 Financial services guide This Financial Services Guide (FSG) is designed to assist you in deciding whether to use financial
More informationFINANCIAL SERVICES GUIDE (FSG) Version Version 8
1 P a g e FINANCIAL SERVICES GUIDE (FSG) 30-04-2018 Version Version 8 Aspire Insurance Solutions Pty ltd T/as Aspire Insurance Solutions ABN: 73 612 878 574 ASIC Authorised Representative No: 1246296 PO
More informationFor personal use only
JUNE 2017 SNAPSHOT NET TANGIBLE ASSETS PER SHARE AS AT 31 MAY 2017 $ 1.066 EILDON CAPITAL LIMITED ACN 059 092 198 FULLY FRANKED DIVIDENDS PAID PER SHARE SINCE LISTING 4.875 cents EILDON CAPITAL LIMITED
More informationAddress: 39 Beswick Avenue, NORTH RYDE NSW 2113 Tel: Fax: address: Website:
Credit Guide ABOUT US ( we, us, our ): Credit Representative Robert Movsessian 399667 Contact details: Address: 39 Beswick Avenue, NORTH RYDE NSW 2113 Tel: 02 9888 1653 Fax: 02 9888 1388 Email address:
More informationPeer & Independent review Feedback and additional guidance paper august 2009
Peer & Independent review Feedback and additional guidance paper august 2009 2 Disclaimer This paper is intended to provide up to date feedback and additional guidance to that contained within Lloyd s
More informationFor personal use only
ASX Announcement 11 October 2017 Presentation by Andrew Blattman & John Wadley to the Morgans Queensland Conference Attached is a presentation to be given this afternoon by Spruson & Ferguson s CEO, Dr
More information