Agriculture Index Insurance in Bangladesh. IWMI-IWM IBFI Inception Workshop, Dhaka 4 th November, 2015

Size: px
Start display at page:

Download "Agriculture Index Insurance in Bangladesh. IWMI-IWM IBFI Inception Workshop, Dhaka 4 th November, 2015"

Transcription

1 Agriculture Index Insurance in Bangladesh IWMI-IWM IBFI Inception Workshop, Dhaka 4 th November, 2015

2 Agenda 1. An Introduction to Swiss Re 2. Overview of Index based Agriculture Insurance 3. Case Study: Flood Index Insurance in Bangladesh 4. Learnings from India 2

3 Swiss Re at a glance Swiss Re is a leading and highly diversified global reinsurer, founded in Zurich (Switzerland) in 1863 The company offers traditional reinsurance products and related services for property and casualty, as well as for life and health businesses Headquarters, Zurich These traditional products are complemented by insurance-based corporate finance solutions and supplementary services for comprehensive risk management Our financial strength 1 is currently rated: Standard & Poor s: AA- (stable); Moody s Aa3 (stable); A.M. Best: A+ (stable) Armonk, New York Swiss Re named as the insurance sector leader in the 2014 Dow Jones Sustainability Indices The Gherkin, London Key statistics (USD billions) FY 2011 FY 2012 FY2013 FY 2014 Total revenues: Net income: Shareholders equity: As at 13 February

4 Swiss Re is broadly diversified by geography and product line Net premiums and fee income earned (USD 31.3 bn) by region (in USD bn) 12.2 and by business segment Americas EMEA Asia 39% 36% 25% Corporate Solutions 11% Admin Re 3% P&C Re 50% L&H Re 36% Swiss Re benefits from geographic and business mix diversification and has the ability to reallocate capital to achieve profitable growth 1 Includes fee income from policyholders; does not reflect the exposure to HGMs through Principal Investments (PI) Source: Swiss Re 4

5 Index Insurance for Agriculture Indemnity based agriculture insurance has a long tradition in developed economies and is increasingly introduced in emerging markets However: Traditional insurance works best for larger farm units and high value crops Relies on the insurance industry as a distribution channel Is relatively expensive (loss adjustment, administration) Often needs government subsidies to make it affordable. But: developing markets with predominately small farm units (at times even less than 1 ha) need risk transfer products that are cost efficient and pay out fast. They also need products which could be distributed easily Index based insurance is a financial protection tool with Insurance Payouts defined as a function of an Index (Weather/Area Yield/NDVI etc.) in relation to a specified Trigger An index is a variable that is highly correlated with yield losses Index based instruments can be structured to cover both volume (fluctuations in crop output) and volume-contingent commodity price solutions

6 Index Based Insurance Salient Features and Challenges Merits: Transparent product with easy to understand parameters Weather variables such as rainfall, temperature are observable and easily measured. Thus less disputes Weather, satellite, yield are independently verifiable by sources such as Government Meteorological Department. Weather/Satellite Data can be reported in a timely manner Indices and instruments can be combined allowing for many different solutions Challenges: Basis risk Availability of historical data to estimate loss cost and premium Hidden costs of data generation (e.g. setup of weather stations etc.) Reliable/Transparent data to determine payoffs Understanding of the index, simplicity Trust in the index

7 Agriculture Insurance An Overview Indemnity Index 7

8 Index Products - Claims Settlement Process Banks/ FPOs 8 11

9 Sirajganj Flood Index Insurance Situation Agriculture is the single largest producing sector of the economy, contributes 18.6% to country's GDP and employs 45% of labor force Rice is the key crop with Bangladesh being the fourth largest rice producing country in the world. Bangladesh is a flood prone country and suffers from large-scale flooding periodically Meso level flood index cover was designed for poor and vulnerable people in the areas of Sirajganj district. Swiss Re acts as a development partner/advisor and is the key reinsurer Solution features (rice) Cover: Flood Index insurance to cover loss of income/livelihood due to floods Flood data : Provided from hydrodynamic model developed by IWM using water discharge, rainfall, topography, landuse, historical river channel water depth Payout: Trigger 1 : Flood level breaches pre defined threshold Trigger 2 : Flood inundation continues over a pre defined time period Sales: Insurance policy holder is Manab Mukti Sangstha NGO providing loans to poor householders Scale (pilot): 1661 Households covered in first pilot Premium subsidies : Provided by Swiss Development Corporation (2013), Oxfam (2014, 2015) Advantage: covers regional calamities, fast payout, lean costs for distribution / administration Disadvantage: basis risk SYMBOL OF SECURITY Pragati Insurance Limited 12

10 Meso Insurance Policy - Work Flow Swiss Reinsurance Co. Reinsurer Pragati Insurance Co. Insurer Manab Mukti Sangstha Insured Individual Farmers Across Several Villages 10

11 Flood Hazard Model Used Input Data 1 D Model (NAM & HD) Output (Discharge & Water Rivers & Channels) Input Data (DEM & Model Network) MIKE 11 GIS Flood Map (Depth Data over Flood Plain) Flood Map (WL Data over Flood Plain) 11

12 Parameters Defined Payout = f (L, T) L = Average Flood Water Level T = Across Different Days Flood Level Index Level = No breach, 1 = Breach Date Level (m) Breach Sun, Sept 09, No Mon, Sept 10, No Tues, Sept 11, Yes Duration Level Payout

13 Product Termsheet Reduced to 8 Reduced to 9 Reduced to 19 Reduced to 23 13

14 Prerequisites for Index Implementation DESIGN UTILITY IMPLEMENTATION 1. Historical data with good length 2. Good quality Rainfall & River Runoff data 3. Combining satellite data with ground based observations may increase the accuracy 4. Quality controlled, cleaned, enhanced 5. Reliable ongoing collection and reporting procedures 6. Third-party settlement data 1. Ability to index risk 2. Basis Risk or How good is this insurance? 3. Quantification of losses due to impact of Flood 4. Loss data that shows strong correlation with Flood event (in case of Flood index) 5. Reasonable coverage through a single weather station/ loss assessment sample 1. Reliable distributors 2. Strong Reinsurance support 3. Local insurance company willing to intermediate product 4. Favorable regulation 5. Further research and investments are necessary 14

15 India: Key Success Factors for Scalability Huge farming population - around 120 mn farm holdings and 2/3 rd of population dependent on the sector. Support from government through premium subsidies, policy framework pre-existing PPP approach Fast growing agriculture/allied sector credit portfolio - banking network used for distribution Robust network of weather stations having historical data - States and Central government continuously upgrading the weather infrastructure and yield assessment machinery, private weather data providers Use of Remote Sensing encouraged Active private sector participation - long term commitment from reinsurers like Swiss Re 16

16 Thank You! Contact Information: Mangesh Niranjan Patankar, AVP Sebabrata Sarkar, AVP 16

17 17

18 Legal notice 2015 Swiss Re. All rights reserved. You are not permitted to create any modifications or derivative works of this presentation or to use it for commercial or other public purposes without the prior written permission of Swiss Re. The information and opinions contained in the presentation are provided as at the date of the presentation and are subject to change without notice. Although the information used was taken from reliable sources, Swiss Re does not accept any responsibility for the accuracy or comprehensiveness of the details given. All liability for the accuracy and completeness thereof or for any damage or loss resulting from the use of the information contained in this presentation is expressly excluded. Under no circumstances shall Swiss Re or its Group companies be liable for any financial or consequential loss relating to this presentation. 18

Agriculture Index Insurance in India. With focus on Weather & Flood Index August 01, 2015

Agriculture Index Insurance in India. With focus on Weather & Flood Index August 01, 2015 Agriculture Index Insurance in India With focus on Weather & Flood Index August 01, 2015 Agenda 1. An Introduction to Swiss Re 2. Overview of Index based Agriculture Insurance 3. How Weather Index Crop

More information

Lessons learned: structuring and pricing index-based insurance in developing countries

Lessons learned: structuring and pricing index-based insurance in developing countries Lessons learned: structuring and pricing index-based insurance in developing countries I4 Technical Meeting, 13-14 June 2012, Rome Marcel Küttel, Weather Underwriter, Swiss Re Corporate Solutions Swiss

More information

Swiss Re. Company Presentation Universidad Complutense de Madrid- 9 diciembre 2013

Swiss Re. Company Presentation Universidad Complutense de Madrid- 9 diciembre 2013 Swiss Re Company Presentation Universidad Complutense de Madrid- 9 diciembre 2013 What is Reinsurance? 2 What is Reinsurance? Insured risks Motor Primary Insurance Reinsurance Retrocession & Capital Market

More information

The financial implications of climate change: the North East and beyond. Focus on Climate Change, Pace Energy and Climate Center, June 27, 2012

The financial implications of climate change: the North East and beyond. Focus on Climate Change, Pace Energy and Climate Center, June 27, 2012 The financial implications of climate change: the North East and beyond Focus on Climate Change, Pace Energy and Climate Center, June 27, 2012 Agenda Introduction Financial impacts of weather extremes

More information

Increased production volatility and impact across the entire Agribusiness Supply Chain

Increased production volatility and impact across the entire Agribusiness Supply Chain Corporate Solutions Increased production volatility and impact across the entire Agribusiness Supply Chain Bernard Belk, Global Head Food & Agriculture Global Grain, Geneva, 12-14 November 2013 Agenda

More information

Disaster Management The

Disaster Management The Disaster Management The UKRAINIAN Agricultural AGRICULTURAL Dimension WEATHER Global Facility for RISK Disaster MANAGEMENT Recovery and Reduction Seminar Series February 20, 2007 WORLD BANK COMMODITY RISK

More information

Global Resilience Risk

Global Resilience Risk Global Resilience Risk An Insurers Perspective WEC Energy Summit 16 March 2016 Jamie Summons, Head of Weather Solutions, Asia Pacific Swiss Re Weather Market Capability Global presence, market leadership

More information

INVESTING IN DISASTER RESILIENCE: RISK TRANSFER THROUGH FLOOD INSURANCE IN SOUTH ASIA

INVESTING IN DISASTER RESILIENCE: RISK TRANSFER THROUGH FLOOD INSURANCE IN SOUTH ASIA INVESTING IN DISASTER RESILIENCE: RISK TRANSFER THROUGH FLOOD INSURANCE IN SOUTH ASIA GIRIRAJ AMARNATH International Water Management Institute (IWMI) Photo: World Bank Workshop on Addressing Disaster

More information

Swiss Re Media Conference. Monte Carlo, 10 September 2018

Swiss Re Media Conference. Monte Carlo, 10 September 2018 Swiss Re Media Conference Monte Carlo, 10 September 2018 Today s agenda First part: Plenum presentation Making the world more resilient Moses Ojeisekhoba, CEO Reinsurance Underwriting and renewals Edouard

More information

Catastrophe Risk Financing Instruments. Abhas K. Jha Regional Coordinator, Disaster Risk Management East Asia and the Pacific

Catastrophe Risk Financing Instruments. Abhas K. Jha Regional Coordinator, Disaster Risk Management East Asia and the Pacific Catastrophe Risk Financing Instruments Abhas K. Jha Regional Coordinator, Disaster Risk Management East Asia and the Pacific Structure of Presentation Impact of Disasters in developing Countries The Need

More information

Non-physical Damage Business Interruption (NDBI) Innovative Earnings Protection

Non-physical Damage Business Interruption (NDBI) Innovative Earnings Protection Non-physical Damage Business Interruption (NDBI) Innovative Earnings Protection Agenda Introductions It s a Dangerous World A Framework for Evaluating Corporate Risks Limitations of Traditional Insurance

More information

Insurance that pays out without proof of loss? Dr. Alexander Pui Nat Cat Manager (APAC) Swiss Re Corporate Solutions

Insurance that pays out without proof of loss? Dr. Alexander Pui Nat Cat Manager (APAC) Swiss Re Corporate Solutions Insurance that pays out without proof of loss? Dr. Alexander Pui Nat Cat Manager (APAC) Swiss Re Corporate Solutions Natural Catastrophe Losses in Asia (1970 present) 2011:Thai Floods, Tohoku EQ, Christchurch

More information

Goldman Sachs 18 th Annual European Financials Conference. Edouard Schmid, Head Property & Specialty Reinsurance Madrid, 10 June 2014

Goldman Sachs 18 th Annual European Financials Conference. Edouard Schmid, Head Property & Specialty Reinsurance Madrid, 10 June 2014 Goldman Sachs 18 th Annual European Financials Conference Edouard Schmid, Head Property & Specialty Reinsurance Madrid, 10 June 2014 Agenda Introduction to Swiss Re Differentiation through knowledge Protection

More information

3 RD MARCH 2009, KAMPALA, UGANDA

3 RD MARCH 2009, KAMPALA, UGANDA INNOVATIVE NEW PRODUCTS WEATHER INDEX INSURANCE IN MALAWI SHADRECK MAPFUMO VICE PRESIDENT, AGRICULTURE INSURANCE 3 RD MARCH 2009, KAMPALA, UGANDA Acknowledgements The Commodity Risk Management Group at

More information

Focus on product quality

Focus on product quality Focus on product quality a reinsurers perspective Agricultural Insurance Conference, Skopje 01.11.2018 Macedonia analysis based on mkt figures from 2007-2016 market figures 2016 [EUR] Macedonia estimated

More information

Allianz Re. Company Presentation. May Understanding Risk Creating Value

Allianz Re. Company Presentation. May Understanding Risk Creating Value Allianz Re Company Presentation May 2015 Understanding Risk Creating Value Content 1 Allianz Group 2 Our company 3 Our financial results 4 Our people 5 Our solutions & services 6 Our global presence 2

More information

Business Models and Institutional Framework for Up-scaling Index-based Flood Insurance Products

Business Models and Institutional Framework for Up-scaling Index-based Flood Insurance Products Business Models and Institutional Framework for Up-scaling Index-based Flood Insurance Products P K Joshi and N K Tyagi South Asia Regional Office International Food Policy Research Institute E-mail: p.joshi@cigar.org;

More information

Swiss Re s performance and strategy

Swiss Re s performance and strategy Swiss Re s performance and strategy UBS Best of Switzerland 2016 Conference Edouard Schmid, Head Property & Specialty Reinsurance Wolfsberg, 16 September 2016 Today s agenda Recent achievements Industry

More information

Swiss Re and our Life & Health Reinsurance business

Swiss Re and our Life & Health Reinsurance business Swiss Re and our Life & Health Reinsurance business Alison Martin, Head Life & Health Business Management Bank of America Merrill Lynch - Annual Financials CEO Conference September 29, 2016 We re smarter

More information

Growing emphasis on insurance systems

Growing emphasis on insurance systems Growing emphasis on insurance systems Roger C Stone, University of Southern Queensland, Australia. World Meteorological Organisation, Commission for Agricultural Meteorology. IDMP Geneva September 14-16,

More information

Climate Insurance Fund (CIF)

Climate Insurance Fund (CIF) Climate Insurance Fund (CIF) Developing Climate Insurance Markets Around the Globe Through Equity/Debt Investments and Technical Assistance to Facilitate Healthy Development Agenda 1 The Climate Insurance

More information

Climate Risk Insurance Models from India

Climate Risk Insurance Models from India Climate Risk Insurance Models from India Regional Dialogue on Climate Resilient Growth & Development Dhyanesh Bhatt 21 st Feb 2018 Agenda Crop insurance in India Guwahati city & Risk financing A case study

More information

Module 6 Book A: Principles of Contract Design. Agriculture Risk Management Team Agricultural and Rural Development The World Bank

Module 6 Book A: Principles of Contract Design. Agriculture Risk Management Team Agricultural and Rural Development The World Bank + Module 6 Book A: Principles of Contract Design Agriculture Risk Management Team Agricultural and Rural Development The World Bank + Module 6 in the Process of Developing Index Insurance Initial Idea

More information

SCALING UP INSURANCE

SCALING UP INSURANCE SCALING UP INSURANCE SVRK Prabhakar Today s Thought Plan Agricultural production risks are growing and buffering of resultant financial shocks is important Risk insurance can be promising but is facing

More information

The AIR Inland Flood Model for Great Britian

The AIR Inland Flood Model for Great Britian The AIR Inland Flood Model for Great Britian The year 212 was the UK s second wettest since recordkeeping began only 6.6 mm shy of the record set in 2. In 27, the UK experienced its wettest summer, which

More information

Meeting the Challenges of Change

Meeting the Challenges of Change Natural Catastrophes - Lessons for the Indian Market from 2011 Global Experience Jyoti Majumdar Vice President, Head Cat Perils Asia Hub Swiss Reinsurance Company, Bangalore Meeting the Challenges of Change

More information

Value for farmers from meso level index insurance!?

Value for farmers from meso level index insurance!? Value for farmers from meso level index insurance!? Presentation for the 7th Annual International Microinsurance Conference, Rio de Janeiro, 9 November 2011 Micro Insurance Network Agriculture Insurance

More information

UBS Swiss Equity Conference

UBS Swiss Equity Conference Stefan Lippe Chief Executive Officer Agenda Company profile Building on our strengths Outlook Questions & answers Slide 2 Headquarters Zurich, Switzerland Swiss Re A leading and highly diversified risk

More information

Satellite-powered Agriculture Insurance: Opportunities and Regulatory Requirements

Satellite-powered Agriculture Insurance: Opportunities and Regulatory Requirements Satellite-powered Agriculture Insurance: Opportunities and Regulatory Requirements Jimmy Loro Senior Adviser Lead Expert GIZ RIICE Remote Sensing-based Information and Insurance for Crops in Emerging Economies

More information

International Agricultural and Natural Catastrophe Insurance Forum. Experience by GIZ Matthias Range

International Agricultural and Natural Catastrophe Insurance Forum. Experience by GIZ Matthias Range International Agricultural and Natural Catastrophe Insurance Forum Experience by GIZ Rüschlikon, Switzerland, October 2016 Seite 1 Agenda GIZ GIZ and Financial Systems Development GIZ and Agricultural

More information

Agricultural Insurance for Developing Countries The Role of Governments

Agricultural Insurance for Developing Countries The Role of Governments FARM - Pluriagri conference on Insuring Agricultural Production Paris, France December 18, 2012 Agricultural Insurance for Developing Countries The Role of Governments Olivier Mahul Program Coordinator,

More information

DISASTER RISK FINANCING ADB Operational Innovations in South Asia

DISASTER RISK FINANCING ADB Operational Innovations in South Asia DISASTER RISK FINANCING ADB Operational Innovations in South Asia Erik Kjaergaard, Disaster Risk Management Specialist South Asia Department with input from Mayumi Ozaki, Senior Portfolio Management Specialist

More information

INDEX BASED RISK TRANSFER AND INSURANCE MECHANISMS FOR ADAPTATION. Abedalrazq Khalil, PhD Water Resources Specialist, World Bank

INDEX BASED RISK TRANSFER AND INSURANCE MECHANISMS FOR ADAPTATION. Abedalrazq Khalil, PhD Water Resources Specialist, World Bank INDEX BASED RISK TRANSFER AND INSURANCE MECHANISMS FOR ADAPTATION Abedalrazq Khalil, PhD Water Resources Specialist, World Bank Outline Introduction: Climate Change and Extremes Index Based Risk Transfer:

More information

The future of Nat Cat on twitter

The future of Nat Cat on twitter The future of Nat Cat insurance @ReinsurerHuerta on twitter What is the nat cat protection gap? Pavel Huerta 8th Hydra meeting September 206 The difference between economic and insured losses. Pavel Huerta

More information

Draft 04/07/2006 p.1 of 6 CRMG. 1

Draft 04/07/2006 p.1 of 6 CRMG. 1 Global Index Insurance Facility (GIIF) Concept Note (Synopsis) Commodity Risk Management Group (CRMG) 1, ARD, World Bank Proposal It is intended to establish a new reinsurance vehicle, the Global Index

More information

Climate Change and Reinsurance. Nomura's European Sustainable and Responsible Investment Conference Paris, 17 March 2011

Climate Change and Reinsurance. Nomura's European Sustainable and Responsible Investment Conference Paris, 17 March 2011 Climate Change and Reinsurance Nomura's European Sustainable and Responsible Investment Conference Paris, 17 March 2011 Swiss Re at a glance Swiss Re is a leading and highly diversified global (re)insurance

More information

Public Private Partnerships for Agricultural Insurance

Public Private Partnerships for Agricultural Insurance Roundtable on the Development of Agriculture Insurance Methodology in Tanzania JUN 23 2016 Public Private Partnerships for Agricultural Insurance Chloe Dugger, Operations Officer World Bank Group Contents

More information

KENYAN EXPERIENCE WITH PARAMETRIC INSURANCE. Presented by: Joseph A. Owuor Insurance Regulatory Authority - Kenya

KENYAN EXPERIENCE WITH PARAMETRIC INSURANCE. Presented by: Joseph A. Owuor Insurance Regulatory Authority - Kenya KENYAN EXPERIENCE WITH PARAMETRIC INSURANCE Presented by: Joseph A. Owuor Insurance Regulatory Authority - Kenya REGIONAL WORKSHOP ON PARAMETRIC INSURANCE - GUATEMALA -11 OCTOBER 2016 AGENDA 1. IBI Pilot

More information

Oasis being used in international/ community projects. Julie Calkins & Fred Hattermann & Future Danube Team

Oasis being used in international/ community projects. Julie Calkins & Fred Hattermann & Future Danube Team Oasis being used in international/ community projects Julie Calkins & Fred Hattermann & Future Danube Team 1 Why applying OASIS LMF in international projects? There is a growing demand for user oriented

More information

InsuResilience Solutions Fund (ISF) Transforming concepts into products

InsuResilience Solutions Fund (ISF) Transforming concepts into products InsuResilience Solutions Fund (ISF) Transforming concepts into products The need for climate risk insurance solutions Increasing risks of natural disasters Increasing intensity and frequency of extreme

More information

Helvea Swiss Equities Conference. Guido Fuerer, Group Chief Investment Officer 16 January 2014

Helvea Swiss Equities Conference. Guido Fuerer, Group Chief Investment Officer 16 January 2014 Helvea Swiss Equities Conference Guido Fuerer, Group Chief Investment Officer 16 January 2014 Introduction to Swiss Re 2 Swiss Re Group Overview Swiss Re Group Reinsurance Corporate Solutions Admin Re

More information

Financial Solutions for Risk Management. Sovereign Debt Management Forum Washington DC October 20, 2016

Financial Solutions for Risk Management. Sovereign Debt Management Forum Washington DC October 20, 2016 Financial Solutions for Risk Management Sovereign Debt Management Forum Washington DC October 20, 2016 Uninsured losses from natural catastrophes are a growing burden for governments Natural catastrophe

More information

Supply Chain. An Insurer Perspective. Willis Energy Summit 21 January 2016 Jamie Summons, Head of Weather Solutions, Asia Pacific

Supply Chain. An Insurer Perspective. Willis Energy Summit 21 January 2016 Jamie Summons, Head of Weather Solutions, Asia Pacific Supply Chain An Insurer Perspective Willis Energy Summit 21 January 2016 Jamie Summons, Head of Weather Solutions, Asia Pacific The Supply Chain: Current approach to risk transfer Contingent Business Interruption:

More information

Swiss Re s performance and strategy

Swiss Re s performance and strategy Swiss Re s performance and strategy Baader Helvea Swiss Equities Conference, 11 January 2019 Martin Müller, Chief Financial Officer Corporate Solutions Today s agenda Swiss Re Group at a glance Corporate

More information

RTD on Climate Change Policy Reforms May 14, 2014

RTD on Climate Change Policy Reforms May 14, 2014 RTD on Climate Change Policy Reforms May 14, 2014 William H. Martirez, Country Manager What is MicroEnsure? Micro Ensure is a global insurance intermediary dedicated to serving poor households and the

More information

Lessons from Piloting Weather Index Insurance

Lessons from Piloting Weather Index Insurance Lessons from Piloting Weather Index Insurance MENA Climate Change Seminar Series May 5, 2009 Alexander Lotsch* World Development Report 2010 (DECWD) Development in a Changing Climate * Prepared with inputs

More information

Our Efforts in Agricultural Market in SEA

Our Efforts in Agricultural Market in SEA Our Efforts in Agricultural Market in SEA -Case of Myanmar & Thailand- Mar 16 th 2018 Ken Gohara Alternative Solutions Section Commercial Risk Solutions Department 1 Corporate Profile Name : Sompo Japan

More information

Public Private partnerships in Agriculture The contribution of Kilimo Salama small scale weather index agriculture insurance in Kenya

Public Private partnerships in Agriculture The contribution of Kilimo Salama small scale weather index agriculture insurance in Kenya Public Private partnerships in Agriculture The contribution of Kilimo Salama small scale weather index agriculture insurance in Kenya Weather index insurance for small scale farmers safe farming What

More information

Global reinsurance: current challenges and outlook

Global reinsurance: current challenges and outlook Global reinsurance: current challenges and outlook Nikolaj Beck Head Specialties Swiss Re Corporate Solutions Swiss Re Holding Reinsurance Corporate Solutions Admin Re Mission To be the world's leading

More information

Q1 FY2019 Performance Review. July 17, 2018

Q1 FY2019 Performance Review. July 17, 2018 Q1 FY2019 Performance Review July 17, 2018 Agenda Company Strategy Financial Performance Industry Overview 2 Agenda Company Strategy Financial Performance Industry Overview 3 Strategy: Market leadership

More information

The Changing face of ERM: The Insurance Company s Perspective

The Changing face of ERM: The Insurance Company s Perspective The Changing face of ERM: The Insurance Company s Perspective Karen Tan, Chief Risk Officer, Reinsurance Asia, Swiss Re FNLIA Discussion Series, December 1, 2015 History of Risk Management as a professional

More information

Agricultural Insurance and Regulatory Implications

Agricultural Insurance and Regulatory Implications Report of the 4th A2ii IAIS Consultation Call Agricultural Insurance and Regulatory Implications 26 June 2014 Governments are increasingly recognizing the relevance of insurance for farmers and rural dwellers

More information

Management of Catastrophies OECD Conference, Hyderabad February Insurance solutions for emerging markets

Management of Catastrophies OECD Conference, Hyderabad February Insurance solutions for emerging markets Insurance solutions for emerging markets Today s agenda Importance of insurance to emerging markets Public-private partnership in delivering insurance solutions What is needed for a successful public-private

More information

PRIVATE INVESTMENT IN WATER & SANITATION

PRIVATE INVESTMENT IN WATER & SANITATION PRIVATE INVESTMENT IN WATER & SANITATION AGENDA ResponsAbility Investment need and opportunity Case studies Challenges and Perspectives 2 RESPONSABILITY INVESTMENTS About us Key data Sectors Investment

More information

Innovative financial solutions for implementing debt and risk management strategies: The case of Uruguay

Innovative financial solutions for implementing debt and risk management strategies: The case of Uruguay SOVEREIGN DEBT MANAGEMENT FORUM October 19th & 20th 2016 Washington DC, US Innovative financial solutions for implementing debt and risk management strategies: The case of Uruguay Herman Kamil Debt Management

More information

Francesco Rispoli, IFAD, Italy

Francesco Rispoli, IFAD, Italy Scaling up insurance as a disaster resilience strategy for smallholder farmers in Latin America 11 th Consultative Forum on microinsurance regulation for insurance supervisory authorities, insurance practitioners

More information

Improving Crop Production Monitoring and Agricultural Insurance Solutions through Satellite Technology

Improving Crop Production Monitoring and Agricultural Insurance Solutions through Satellite Technology Remote Sensing-based Information and Insurance for Crops in Emerging Economy Improving Crop Production Monitoring and Agricultural Insurance Solutions through Satellite Technology Feeding seven billion

More information

Making Index Insurance Work for the Poor

Making Index Insurance Work for the Poor Making Index Insurance Work for the Poor Xavier Giné, DECFP April 7, 2015 It is odd that there appear to have been no practical proposals for establishing a set of markets to hedge the biggest risks to

More information

Index Based Crop Insurance Initiative Kenya April 2012

Index Based Crop Insurance Initiative Kenya April 2012 Index Based Crop Insurance Initiative Kenya April 2012 Presentation Outline 1. What is Index Insurance? 2. Why do farmers need insurance? 3. What is Kilimo Salama? 4. How does Kilimo Salama work? 5. Key

More information

Preparing and assessing an agriculture index insurance product proposal, Kampala, 25 th May, 2017

Preparing and assessing an agriculture index insurance product proposal, Kampala, 25 th May, 2017 Preparing and assessing an agriculture index insurance product proposal, Kampala, 25 th May, 2017 Agrotosh Mookerjee FIA, Consultant Actuary, Risk Shield Consultants Ltd. KEY STAKEHOLDERS AND PROCESSES

More information

Leadership in Life Insurance. June 2013

Leadership in Life Insurance. June 2013 Leadership in Life Insurance June 2013 Agenda Industry overview and outlook Performance update Our strategy 2 Agenda Industry overview and outlook Performance update Our strategy 3 India life insurance

More information

Climate insurance schemes for poor and vulnerable households and micro, small and medium enterprises

Climate insurance schemes for poor and vulnerable households and micro, small and medium enterprises SUCCESS STORIES Climate insurance schemes for poor and vulnerable households and micro, small and medium enterprises Corn field destroyed by drought Insurance improves preparedness for the increase in

More information

Supplementary information (unaudited) 2016

Supplementary information (unaudited) 2016 Supplementary information (unaudited) 2016 Annual results 2016 2 Contents Supplementary information (unaudited) for the year ended December 31, 2016 Highlights (unaudited) Business operating profit by

More information

Swiss Re Corporate Solutions. Financial Risk Solutions in a changing Energy Market Juerg Trueb, 3. April 2017

Swiss Re Corporate Solutions. Financial Risk Solutions in a changing Energy Market Juerg Trueb, 3. April 2017 Swiss Re Corporate Solutions Financial Risk Solutions in a changing Energy Market Juerg Trueb, 3. April 2017 Swiss Re at a glance Group results in USD billions Over 150 years of experience in providing

More information

Approaches to Address Loss and Damage for Climate Change Impacts: Lessons from Bangladesh. Photo Habib Torikul

Approaches to Address Loss and Damage for Climate Change Impacts: Lessons from Bangladesh. Photo Habib Torikul Approaches to Address Loss and Damage for Climate Change Impacts: Lessons from Bangladesh Photo Habib Torikul Photo Habib Torikul Background Bangladesh is one of the most climate-vulnerable countries in

More information

DISASTER RISK INSURANCE FOR SMES AND AGRICULTURE

DISASTER RISK INSURANCE FOR SMES AND AGRICULTURE DISASTER RISK INSURANCE FOR SMES AND AGRICULTURE Vijayasekar Kalavakonda Senior Financial Sector Specialist Finance & Markets Global Practice The World Bank Group Asia-Pacific is the world s most disaster

More information

India - World Bank interested in expanding Satellite-Based Flood Insurance scheme

India - World Bank interested in expanding Satellite-Based Flood Insurance scheme Issue: March, 2018 India - World Bank interested in expanding Satellite-Based Flood Insurance scheme After the success of the pilot project on Index-Based Flood Insurance (IBFI) for farmers in Bihar, the

More information

TERMINOLOGY. What is Climate risk insurance? What is Disaster risk insurance?

TERMINOLOGY. What is Climate risk insurance? What is Disaster risk insurance? TERMINOLOGY What is Climate risk insurance? Climate risk insurance describes a suite of instruments for financial risk transfer that provides protection against risks arising from extreme weather events

More information

Small Farmers Perspectives on Agricultural Insurance in Africa

Small Farmers Perspectives on Agricultural Insurance in Africa Africa - Asia Conclave on Loss and Damage Due to Climate Change - - - Small Farmers Perspectives on Agricultural Insurance in Africa - - - August 25-26 2016, Nairobi intro. Climate changes and Insurance

More information

H12018 Performance Review. October 17, 2017

H12018 Performance Review. October 17, 2017 H12018 Performance Review October 17, 2017 Agenda Company Strategy Financial Performance Industry Overview 2 Agenda Company Strategy Financial Performance Industry Overview 3 Strategy: Market leadership+

More information

Group strategy update. Michel M. Liès, Group Chief Executive Officer Investors' Day, Zurich, 24 June 2013

Group strategy update. Michel M. Liès, Group Chief Executive Officer Investors' Day, Zurich, 24 June 2013 Group strategy update Michel M. Liès, Group Chief Executive Officer Investors' Day, Zurich, 24 June 2013 Investors' Day 2013 Group CEO's highlights Swiss Re Group strategy is unchanged Focus on execution,

More information

Financial strength and capital generation John Dacey, Group Chief Financial Officer

Financial strength and capital generation John Dacey, Group Chief Financial Officer Financial strength and capital generation John Dacey, Group Chief Financial Officer We are committed to our over-the-cycle Group financial targets Group targets over-the-cycle Group Return on Equity Group

More information

Captive Solutions. - Ken Gumbiner Head Accident & Health Sales North America

Captive Solutions. - Ken Gumbiner Head Accident & Health Sales North America Captive Solutions Captives provide the best of both worlds. The potential savings associated with self-funding and the ability to mitigate risk through captive pooling with other like minded employers.

More information

The AIR Inland Flood Model for the United States

The AIR Inland Flood Model for the United States The AIR Inland Flood Model for the United States In Spring 2011, heavy rainfall and snowmelt produced massive flooding along the Mississippi River, inundating huge swaths of land across seven states. As

More information

Life Capital. Thierry Léger, CEO Life Capital Ian Patrick, CFO Life Capital

Life Capital. Thierry Léger, CEO Life Capital Ian Patrick, CFO Life Capital Life Capital Thierry Léger, CEO Life Capital Ian Patrick, CFO Life Capital Life Capital is performing well in a challenging macro environment Today s agenda Life Capital creates alternative access to attractive

More information

Weathering the Risks: Scalable Weather Index Insurance in East Africa

Weathering the Risks: Scalable Weather Index Insurance in East Africa Weathering the Risks: Scalable Weather Index Insurance in East Africa Having enough food in East Africa depends largely on the productivity of smallholder farms, which in turn depends on farmers ability

More information

Swiss Re s performance and strategy. Bernstein s 13 th Strategic Decisions Conference John R. Dacey, Group Chief Strategy Officer, 22 September 2016

Swiss Re s performance and strategy. Bernstein s 13 th Strategic Decisions Conference John R. Dacey, Group Chief Strategy Officer, 22 September 2016 Swiss Re s performance and strategy Bernstein s 13 th Strategic Decisions Conference John R. Dacey, Group Chief Strategy Officer, 22 September 2016 Today s agenda Recent achievements Business Units priorities

More information

INVESTING IN WATER : Australia s limiting resource

INVESTING IN WATER : Australia s limiting resource INVESTING IN WATER : Australia s limiting resource BLUE SKY ALTERNATIVE INVESTMENTS LIMITED JUNE 2015 Private Equity / Private Real Estate / Hedge Funds / Real Assets DISCLAIMER THIS DOCUMENT AND THE INFORMATION

More information

Reliance Capital Builder Fund II Series C (A Close Ended Equity Oriented Scheme)

Reliance Capital Builder Fund II Series C (A Close Ended Equity Oriented Scheme) Reliance Capital Builder Fund II Series C (A Close Ended Equity Oriented Scheme) Offer for Sale of Units at Rs.10/- per unit during the new fund offer period Tenure 3 years from the date of allotment of

More information

Innovative Solutions for Disaster Relief

Innovative Solutions for Disaster Relief Innovative Solutions for Disaster Relief How development organizations and foundations can use Capital Markets to prepare and leverage funds for future natural disasters Agenda Natural catastrophes in

More information

ENSO Impact regions 10/21/12. ENSO Prediction and Policy. Index Insurance for Drought in Africa. Making the world a better place with science

ENSO Impact regions 10/21/12. ENSO Prediction and Policy. Index Insurance for Drought in Africa. Making the world a better place with science ENSO Prediction and Policy Making the world a better place with science Index Insurance for Drought in Africa Science in service of humanity Dan Osgoode & Eric Holthaus International Research Institute

More information

Half Year Report 2011

Half Year Report 2011 Zurich Financial Services Group Half Year Report 2011 Report for the six months to June 30, 2011 About Zurich Zurich is one of the world s largest insurance groups, and one of the few to operate on a truly

More information

Flood Damage Assessment (Case study: Sirajganj District)

Flood Damage Assessment (Case study: Sirajganj District) Flood Damage Assessment (Case study: Sirajganj District) Photo Courtesy: Climate and Capitalism Photo Courtesy: Practical Action Blog A.K.M. Saiful Islam Professor Institute of Water and Flood Management

More information

Flood, Insurance, and Inland Marine. Andrew Castaldi Swiss Re IMUA Annual Meeting May 20, 2104

Flood, Insurance, and Inland Marine. Andrew Castaldi Swiss Re IMUA Annual Meeting May 20, 2104 Flood, Insurance, and Inland Marine Andrew Castaldi Swiss Re IMUA Annual Meeting May 20, 2104 Thinking about Flood (Too many Tedious Slides) Audience interactive part Flood and Inland Marine Flood the

More information

Leadership in life insurance. August 2013

Leadership in life insurance. August 2013 Leadership in life insurance August 2013 Agenda Industry overview and outlook Performance update Our strategy 2 Agenda Industry overview and outlook Performance update Our strategy 3 India life insurance

More information

Three Components of a Premium

Three Components of a Premium Three Components of a Premium The simple pricing approach outlined in this module is the Return-on-Risk methodology. The sections in the first part of the module describe the three components of a premium

More information

Exane BNP Paribas 16th European CEO Seminar. Michel M. Liès, Group CEO Paris, 20 June 2014

Exane BNP Paribas 16th European CEO Seminar. Michel M. Liès, Group CEO Paris, 20 June 2014 Exane BNP Paribas 16th European CEO Seminar Michel M. Liès, Group CEO Paris, 20 June 2014 Introduction to Swiss Re 2 Differentiated through history Swiss Re is a global operator, with over 60 offices in

More information

9M2018 Performance Review. January 16, 2018

9M2018 Performance Review. January 16, 2018 9M2018 Performance Review January 16, 2018 Agenda Company Strategy Financial Performance Industry Overview 2 Agenda Company Strategy Financial Performance Industry Overview 3 Strategy: Market leadership

More information

ASIAN DEVELOPMENT BANK

ASIAN DEVELOPMENT BANK ASIAN DEVELOPMENT BANK TAR: VIE 38561 TECHNICAL ASSISTANCE (Financed by the Poverty Reduction Cooperation Fund) TO THE SOCIALIST REPUBLIC OF VIET NAM FOR DEVELOPING AGRICULTURAL INSURANCE December 2004

More information

9M2019 Performance Review

9M2019 Performance Review 9M2019 Performance Review Agenda Company Strategy Financial Performance Industry Overview Agenda Company Strategy Financial Performance Industry Overview Strategy: Market leadership + Profitable growth

More information

News release. Page 1/8. Swiss withholding tax exempt distribution out of reserves from capital contributions. Contact:

News release. Page 1/8. Swiss withholding tax exempt distribution out of reserves from capital contributions. Contact: News release a Swiss Re reports strong 2010 results with full-year net income of USD 863 million, announces new corporate structure aligned with strategic priorities Contact: Media Relations, Zurich Telephone

More information

PCDIP. Philippine City Disaster Insurance Pool

PCDIP. Philippine City Disaster Insurance Pool PCDIP Philippine City Disaster Insurance Pool Disaster Risk The Philippines is located in one of the world s most disaster-prone regions. Positioned on the Pacific Ring of Fire and within the Western North

More information

Using Reinsurance to Optimise the Solvency Position in an Insurance Company

Using Reinsurance to Optimise the Solvency Position in an Insurance Company Using Reinsurance to Optimise the Solvency Position in an Insurance Company Philippe Maeder, Head of Pricing Life & Health for Latin America Table of Contents / Agenda Solvency Framework Impact of Reinsurance

More information

Operating and financial review Zurich Financial Services Group Half Year Report 2011

Operating and financial review Zurich Financial Services Group Half Year Report 2011 Operating and financial review 2011 Half Year Report 2011 2 Half Year Report 2011 Operating and financial review The information contained within the Operating and financial review is unaudited. This document

More information

Economics of Climate Adaptation

Economics of Climate Adaptation Shaping Climate-resilient Development Economics of Climate Adaptation A Framework for Decision-makers Dr. David N. Bresch, Head Sustainability & Political Risk Management, Swiss Re david_bresch@swissre.com

More information

Dresdner Kleinwort s Speed Investing Conference

Dresdner Kleinwort s Speed Investing Conference Susan Holliday Head of Investor Relations Today s agenda Swiss Re at a glance Business performance Property & Casualty Life & Health Financial Services Strategy and outlook Slide 2 Swiss Re at a glance

More information

News release. Page 1/6

News release. Page 1/6 News release a Swiss Re reports very strong net income of USD 2.2 billion for third quarter of 2012, driven by Property & Casualty Reinsurance and Admin Re US sale Contact: Media Relations, Zurich Telephone

More information

PRACTICAL APPROACHES TO FINANCING AND EXECUTING CLIMATE CHANGE ADAPTATION

PRACTICAL APPROACHES TO FINANCING AND EXECUTING CLIMATE CHANGE ADAPTATION PRACTICAL APPROACHES TO FINANCING AND EXECUTING CLIMATE CHANGE ADAPTATION HUMAYUN TAI MCKINSEY & COMPANY Executive Summary There is increasing consensus that climate change may slow worldwide economic

More information

Resilience and the Economics of Risk. NACo s Resilient Counties Advisory Board February 2016

Resilience and the Economics of Risk. NACo s Resilient Counties Advisory Board February 2016 Resilience and the Economics of Risk NACo s Resilient Counties Advisory Board February 2016 The growing burden of uninsured losses Natural catastrophe losses 1970 2014 (in 2014 USD) 450 400 350 300 Uninsured

More information

Stakeholder Workshop Bangkok

Stakeholder Workshop Bangkok AREA YIELD INDEX INSURANCE PILOT IN 2016 Stakeholder Workshop Bangkok 22 January 2016 Susan Gille, RIICE Project Manager GIZ August 2014, Hua Hin Stakeholder Workshop: Thai Rice Crop Insurance Scheme Challenges

More information