Helvetia Group. Helvet ia Act ive Reinsurance Divison. Your Swiss Insurer. 1/13 Helvetia Active Reinsurance Division Brochure

Transcription

1 Helvetia Group Helvet ia Act ive Reinsurance Divison. Your Swiss Insurer. 1/13 Helvetia Active Reinsurance Division Brochure

2 Content. 3 Introduction 4 Our vision and strategy 5 Our strategic priorities 6 Our underwriting executive team 7 Fact sheet Premium volume and rating 8 Helvetia Group Profile 9 Helvetia Group History 10 Helvetia Reinsurance Training 2/13 Helvetia Active Reinsurance Division Brochure

3 Solidarity is the best insurance in the world. Dear business partners, with our helvetia strategy, we are making the company more digital, more agile and more valuable. We are proud to present an update on the vision and strategy of Helvetia's Active Reinsurance division. Helvetia was founded in 1858 and is one of the oldest reinsurers in the world. Helvetia has stood for reliable insurance and reinsurance services for almost 160 years. We are one of the three founding companies of the Swiss Reinsurance Company in Zurich, Switzerland who signed its first reinsurance contract ever with Helvetia in Helvetia supports solidarity in many ways. For many years, Helvetia Group has dedicated part of its profit to charitable projects to promote environmental, cultural and sports initiatives. The commitment to the sustainability of social environment was for example developed with the donation of thousands of trees for reforestation and expansion of protective forest initiative in Switzerland where Helvetia takes account of the fact that extreme weather and associated damage due to drought, storms, falling rocks, landslides and avalanches have become more frequent as a result of climate. and many regional and local insurers. Our commitment to solidarity, reliability and sustainability continues to be at the heart of our strategy and activities. We aim to build our business portfolio around the strength of the Helvetia brand and create customer value and competitive advantage. With this in mind, we would like to take the opportunity to express our gratitude to all of our present and future customers, employees and shareholders for their trust and support. Yours sincerely, Gérald Kanis Chief Reinsurance Executive The corporate culture of Helvetia is further based on performance and trust. Mutual respect, acting as a role model and close cooperation are firmly anchored in our principles. With these values in place and through reliability and consistent participation in the reinsurance market, Helvetia has achieved a preferred partner status with some global 3/13 Helvetia Active Reinsurance Division Brochure

4 Our vision and strategy. Our vision is to be a reliable and proficient mid sized Property, Casualty and Specialty reinsurer with a worldwide presence. It is our ambition to maintain our attractive business portfolio and to grow dynamically and sustainably in the worldwide non-life treaty reinsurance market. We are convinced that by continuing with our profitable growth strategy, we will be able to create the most value for our customers, employees and shareholders. We dynamically expand our market position. A well diversified portfolio is the cornerstone of our long term success. Geographic diversification with a wide range of lines of business and independent risks supports this ambition. We sustainably enhance our profitability. Despite the challenging economic conditions, we succeeded in generating pleasing results. Our gross for net underwriting driven risk appetite and efficient retrocession agreements to protect us from catastrophic events will support sustainable and profitable results. We improve customer benefits in line with cu stomer needs. Given the difficult and changing market environment, many customers are unsettled. Therefore, customer loyalty is especially important in these times. We engage across multiple lines of business and aim to become a mid sized sustainable and reliable reinsurer in any business relationship. 4/13 Helvetia Active Reinsurance Division Brochure

5 Our strategic priorities. Produce diversified growth We develop risk diversification to balance the portfolio in the best way possible. Diversification includes the geographical split of our worldwide business, a diversified mix of different reinsurance buyers (Global, Regional, Local, Specialty and Emerging) and a diversification in business lines in taking advantage of our enhanced Standard & Poor s A stable rating. Optimise profitability We focus on non-life Property, Casualty and Specialty treaty business and base our approach on a gross for net underwriting driven culture. In addition, we aim to achieve operational optimisation with a customer focussed organisation to reflect the Markets and Regions and complement them with Specialty know-how. State of the art tools and a strong actuarial workforce support the development of the business. Maximise customer loyalty We have a preference for broad relationships across all lines of business. Our ambition is to become a leading follow reinsurer in any treaty placement in which we participate. Consistency and reliability combined with the necessary flexibility to engage in proportional and non-proportional Property, Casualty and Specialty business are the backbone of our business culture. Constantly modernise systems and processes Adequate systems and efficient reliable processes are necessary to produce a great business performance. We implemented a new reinsurance management system in 2015 which has been tailored to our needs and supports our processes and strategic ambition. We will continue to digitalise our processes to improve our bottom line performance and delight our customers. 5/13 Helvetia Active Reinsurance Division Brochure

6 Our underwriting executive team. Gérald Kanis Chief Reinsurance Executive Management Gérald Kanis took over the Chief Reinsurance Executive role with effect from March 1, He joined Helvetia from XL Insurance where he was Chief Underwiting Officer for Property International which included the General Property, Energy and Construction business produced in all countries worldwide, excluding the U.S.A. and Canada. He was Board Member of XL Insurance Company Limited in London, United Kingdom and was part of the Strategy Council of XL Group in Bermuda. He has more than 30 years of experience in writing large risks and placing reinsurance. Peter Bär Senior Underwriter Region 1 Peter Bär is the Senior Underwriter/ Marketing Executive for Region 1, and Aviation Underwriter. He has more than 20 years of experience in the reinsurance industry including more than 10 years at Swiss Re in various po sitions including client management/underwriting for the German market and for global clients, and 5 years at Winterthur Re s Aviation department. He joined Helvetia in August José Miguel Lara Senior Underwriter Region 2 José Miguel Lara is the Senior Un derwriter/marketing Executive for Region 2. He started his ca reer with Helvetia in 2005 after completing his degree in bu si ness eco nomics at the University of St.Gallen. José has passed through different positions in the Active Reinsurance department since he joined Helvetia. Luis Sobrino Senior Underwriter Region 3 Luis Sobrino is the Senior Underwriter/Marketing Executive for Region 3. Before joining Helvetia in August 2000, he worked more than 10 years for Rhine Re, Basel, Switzerland where he was in charge of underwriting various territories. Prior to that Luis was General Manager for Rimaco in Lausanne, Switzerland, the captive insurance/ reinsurance broker of the Italian carmaker FIAT. 6/13 Helvetia Active Reinsurance Division Brochure

7 Fact sheet. Premium volume and rating. Portfolio structure of active reinsurance by region 2016 Share in % in CHF million 10 % 32.9 Asia 1 % 2.8 Other 6 % 20.0 Middle East 45 % Europe 38 % America Total 100 % Portfolio structure of active reinsurance by insurance line 2016 Share in % in CHF million 4 % 14.8 Energy 11 % 35.9 Engineering 1 % 4.9 Other 23 % 78.6 Casualty 7 % 22.6 Aviation 10 % 35.0 Agriculture 9 % 29.2 Motor 33 % Property 2 % 8.0 Marine Total 100 % Standard & Poor s Rating of Helvetia Swiss Insurance Company, Limited Interactive Rating February 2017: A stable 7/13 Helvetia Active Reinsurance Division Brochure

8 Helvetia Group. Profile. Helvetia is a Swiss based insurance and reinsurance group offering high quality security and is registered with the Swiss Financial Market Supervisory Authority (FINMA). The registered shares of Helvetia Holding are traded on the SIX Swiss Exchange under the symbol HELN. Helvetia has a long tradition: in almost 160 years, the Helvetia Group has grown from a number of Swiss and foreign insurance companies into a successful international insurance group. Alongside its home market of Switzerland, Helvetia's core geographic markets also include Germany, Italy, Austria and Spain which form the Europe segment. Helvetia is active in the life and non-life business in these markets. With its Specialty Markets area, Helvetia not only has a local presence in Switzerland, France and the Principality of Liechtenstein, but also in Turkey and Miami for Latin America as well as in Singapore and Malaysia. The Active Reinsurance Division is also assigned to this market area and operates worldwide. Helvetia attaches great importance to practical geographic diversification and a good balance between the profitable non-life business, the growing life and pension business and the promising international Specialty business. The Group is headquatered in St. Gallen, Switzerland. Helvetia is active in the life, non-life and reinsurance business. 6,481 employees provide services to more than 5.0 million customers. With a business volume of CHF 8,512 million, Helvetia increased its underlying earnings by 12 % to CHF 492 million in the 2016 financial year. Helvetia aims to use its stable business portfolio as the foundation for substantially expanding its position in the preferred markets. With the new helvetia strategy, Helvetia is building on its strengths and becomes more digital, more agile and more valuable. Gross Premiums for the Group: CHF 8,512 million Switzerland segment Europe segment Specialty Markets segment 5, in CHF million Switzerland Italy Germany Austria Spain Switzerland / international France, Active reins. Life 72 % 43 % 31 % 42 % 30 % Non-life 28 % 57 % 69 % 58 % 70 % 100 % 8/13 Helvetia Active Reinsurance Division Brochure

9 Helvetia Group. History. A historical overview 2016 Purchase of majority stake of 70 % in Money Park, the biggest mortgage intermediary in Switzerland. Purchase of the outstanding minority interest of 47 % of the Chiara Assicurazioni in Italy The merger of Helvetia and Nationale Suisse announced on 7 July 2014 has been completed. On 30 April 2015, Swiss National Insurance Company Ltd merged with Helvetia Swiss Insurance Company Ltd Purchase of the Basler Versicherungs-Aktiengesellschaft in Austria. Helvetia becomes one of the Top 10 Austrian insurance companies. Acquisition of the Schweizerische National-Versicherungs-Gesellschaft AG ( Nationale Suisse ). Creation of a strong new Swiss insurance group under the brand name of Helvetia Completion of majority acquisition of Chiara Assicurazioni Renewal of partnership with Bank Vontobel 2012 Acquisition of the French marine insurance portfolio of Gan Eurocourtage Acquisition of the portfolio of SEV Versicherungen Genossenschaft and its approximately 15,000 insureds Purchase of a majority stake in Chiara Assicurazioni and an increase in the shareholding in Chiara Vita from 70 to 100 percent Renewal of the distribution agreement with Banco di Desio regarding the sale of life insurance 2011 Legal merger with Alba General Insurance Company Ltd (Alba), Phenix Insurance Company Ldt and Phenix Life Insurance Company Ltd (Phenix) Sale of Alba/Phenix health/accident insurance portfolios to the two insurance companies Innova and Solida 2010 Purchase of the Swiss insurance companies Alba General Insurance Company Ltd (Alba), Phenix, insurance company Ltd and Phenix, life insurance company Ltd (Phenix) 2009 Acquisition of the L Européenne d Assurance Transport (CEAT) in France 2008 Helvetia celebrates its 150 th anniversary Acquisition of Padana Assicurazioni (Italy) Acquisition of majority stake in Chiara Vita (Italy) 2006 From September, Helvetia Patria Group operates throughout Europe under the name Helvetia 2005 Merger of Italian subsidiaries Helvetia Vita and Helvetia Life into Helvetia Vita with headquarters in Milan Acquisition of insurance portfolio of Sofid Vita in Italy 2004 Acquisition of two transport insurance portfolios in France 2003 Merger of the two Spanish companies Helvetia CVN and Previsión Española to form Helvetia Previsión with headquarters in Seville 2002 Acquisition of transport insurance business of British insurer Royal & Sun Alliance in France 2001 Acquisition of Norwich Union Vita, Milan; renamed Helvetia Life 2000 Acquisition of the southern Spanish insurer Previsión Española, Seville 1999 Merger of the two companies La Vasco Navarra and Cervantes Helvetia to form Helvetia CVN, Madrid/Pamplona 1998 Acquisition of La Vasco Navarra (Spain), acquisition of the portfolio of NCD (Italy) 1996 Establishment of Helvetia Patria Holding 1992 Start of partnership between Helvetia and Patria Further Helvetia subsidiaries established in Spain, Italy and Germany 1974 Merger of Helvetia Feuer and Helvetia Allgemeine, St.Gallen Establishment of branch offices and subsidiaries of Helvetia in France, Italy, Austria, Greece (sold 1997), the Netherlands (sold 1995) and Canada (sold 1999) 1878 Establishment of Patria, Schweizerische Lebensversicherungsgesellschaft cooperative society in Basel 1863 Helvetia, Credit Suisse and Basler Handelsbank founded Swiss Reinsurance Company 1862 Establishment of branch offices in Germany 1861 Establishment of Helvetia Schweizerische Feuerversicherungs-Gesellschaft 1858 Establishment of Allgemeine Versicherungs-Gesellschaft Helvetia 9/13 Helvetia Active Reinsurance Division Brochure

10 Helvetia Reinsurance Training After a first run in 2017 Helvetia is delighted to announce the next Reinsurance Training offer for representatives of our valued clients around the world. Monday, 23 April Friday, 27 April 2018 Address: Rosenbergstrasse 20, 9001 St.Gallen, Switzerland. Language: English Time Monday Tuesday Wednesday Thursday Friday :30 11:00 2. Proportional Reinsurance 11:00 11:30 general aspects Welcome & Introduction 11:30 12:00 4. Non-proportional Reinsurance general aspects 6. Pricing of non-proportional treaties (part 1) 8. Pricing of proportional treaties 12:00 12:30 Lunch Course closing 12:30 13:30 Lunch Lunch Lunch Farewell-Lunch 13:30 14:00 1. Introduction to Reinsurance 14:00 17:00 3. Proportional Reinsurance technical aspects 5. Non-proportional Reinsurance technical aspects 7. Pricing of non-proportional treaties (part 2) 17:00 17:30 17:30 18:00 18:00 22:00 Social Event Who should attend? No specific previous knowledge in Reinsurance is required. The course hence is ideal for new employees in the reinsurance departments of insurance companies or reinsurance broker firms. A good command of English and the willingness to participate actively in an interactive course environment are paramount. Costs Helvetia will not charge any course fees and invite participants for lunch Monday Friday. Water and coffee / tea are available free of charge in the course room. In addition a social event including dinner will be organised on Wednesday evening. Travel arrangements and hotel accommodation will have to be organised and paid by the participants. Enrolment process Interested people shall contact: oliver.hertrich@helvetia.ch no later than , stating Company, Name, Function, previous knowledge in Reinsurance, contact details. The number of places in the course is limited. We will respond as quickly as possible, but no later than with a definite enrolment confirmation. Hotel recommendations Key word RI Training Helvetia Price per room, per night incl. breakfast. Hotel Walhalla CHF Hotel Einstein CHF /13 Helvetia Active Reinsurance Division Brochure

11 Module Content 1 Introduction to Reinsurance Definition of RI, the term risk Market players in RI and their contractual relationships Functions of RI Facultative vs. treaty RI and overview of the various types of RI Difference proportional non-proportional RI Main features of various RI treaties How QS, Surplus, XL / Risk and XL / Event work in detail 2 Proportional Reinsurance general aspects 3 Proportional Reinsurance technical aspects 4 Non-proportional RI - general aspects 5 Non-proportional RI - technical aspects 6 Pricing of non-proportional treaties (part 1) Quota Share and Surplus, cession Table of retentions Treaty compression Written and earned premium Premium portfolio transfer and loss portfolio transfer Occurrence limit Proportional RI and the functions of RI The RI commission contribution to original costs and price element Types of RI commission - fixed and variable (slide, stepped) Profit commission, loss participation Pricing considerations Cession basis: PML vs. SI and layered policies Types of non-proportional RI - overview Per Risk XL, Per Event XL, Stop Loss. Combined RI programs Terms: ROL, Return period, GNPI, RoGNPI, M&D premium Reinstatement Non-proportional RI and the functions of RI Reinsurance premium: flat, RoGNPI (or TSI), variable Premium installments, M&D, premium adjustment Reinstatement Premium Annual Aggregate Limit and Annual Aggregate Deductible Index Clause Overview: Pricing components & expected loss Types of losses & respective costing methods Experience rating: Indexation, trending Burning cost and Pareto Extrapolation 7 Pricing of non-proportional treaties (part 2) Exposure rating: Exposure curves concept Exposure curves using them for single risks and for portfolios NatCat rating: Costing particulars and modeling Loss frequency curves Information requirements 8 Pricing of proportional treaties Basic idea of PropRating The components of the loss How to split the aggregated loss into its components Different rating methods for various loss components PropRating process Gearing factor 11/13 Helvetia Active Reinsurance Division Brochure

12

13 Helvetia Swiss Insurance Ltd. Rosenbergstrasse 20, 9001 St. Gallen, Switzerland T , F Your Swiss Insurer. 13/13 Helvetia Active Reinsurance Division Brochure