Reinsurance for Group Captives and RRGs. VCIA All Rights Reserved
|
|
- Griffin Lawson
- 6 years ago
- Views:
Transcription
1 Reinsurance for Group Captives and RRGs VCIA All Rights Reserved
2 Kathryn Westover, Community Blood Centers Exchange Risk Retention Group & Innovative Captive Strategies, Inc. Paul Hearn, Aon Benfield Moderator - William Hodson, USA Risk Group 1
3 Best Practices and Procedures of Reinsurance Intermediaries 2
4 General Documentation Mutual Confidentiality or Non Disclosure Agreement Confidential Information may include but not be limited to: Financial information and analyses Underwriting and Pricing Information Reinsurance Structure and Design Information Business Strategies, Loss Data. Models and Modeling Results, Actuarial Analyses, Claim Files, Expiration Dates, Client Lists 3
5 General Documentation Engagement Letter Services Structuring and placing the reinsurance As appropriate and agreed - actuarial analysis of reinsurance options, catastrophe modeling, rating agency modeling, financial modeling Reinsurance accounting and claims processing Reinsurance market updates, summaries of catastrophe events, reports on key legislative developments, etc. 4
6 General Documentation Engagement Letter (Cont.) Compensation Disclosure Materials Preparation of reinsurance submissions and other relevant documents and materials Fiduciary Funds Disclosure of Reinsurer relationships, investments that the reinsurance intermediary may have. Termination 5
7 Documentation Sent to Client Client Approval in writing of: Submission to be sent the Reinsurers A proposed Marketing List including every Reinsurer who will be approached along with basic Security information about each Reinsurer, including at a minimum their AM Best rating their S&P rating if applicable their Policyholders Surplus or the equivalent Draft Contract Wording(s) 6
8 Documentation Sent to Client Brokerage including brokerage to be earned by any co-broker and confirmation that co-brokers will only be used in order to access markets that are either more competitive in terms of pricing, structure, terms and conditions 7
9 Quotations / Indications Any Reinsurer providing a quotation or an indication provided subject to a best pricing, best terms or similar condition will be advised in writing that their quotation/indication will be presented to the Client but that any best pricing or similar subjectivity will not be considered All written and oral quotations / indications including Terms and Conditions will be provided to the Client 8
10 Firm Order Terms - Client Summary of proposed FOT s sent to the Client Client approves the FOT s in writing Client approves revised contract wording which reflects the FOT s 9
11 Firm Order Terms - Markets Confirmation to the markets that the FOT s supercede any other Terms and Conditions provided earlier by the markets Markets provided with the revised contract wording that reflect the FOT s 10
12 Marketing Results If needed, Client approves in writing any markets not included in the originally approved marketing list Written disclosure of all marketing results to the client including authorizations, declinations and non-responses 11
13 Prior to Binding / Signing Lines Client is provided with suggested Signed Lines for each market Client approval of Signed Lines 12
14 Confirmation of Signed Lines Markets are advised of their Signed Lines and provided a Final Contract Wording Markets are asked to confirm their agreement to their Signed Lines and to the Final Contract Wording. 13
15 The Case Study 14
16 Case Study Background 15
17 Who is BCx? An RRG formed in 1993 in response to hard market + emergence of HIV Commercial liability insurers withdrawal from tough classes of business Owned by independent tax exempt community blood centers Insured profile: very small deductibles, no internal risk management staff Founding members were Blood Center CEOs typically risk averse 16
18 Who Would Reinsure This Group!!! Average premium per insured in years 1-5 was less than $80k Written premium years 1-5 was less than $3mm RRG only raised enough capital to retain $100,000 (xs insureds $5k-10k SIRs) No credible loss forecasts (historical severity not frequency) No industry data for an actuary to use 17
19 Initial Placement Requirements 18
20 Demonstration of Commitment RRG executives met with reinsurers Founding members provided Good Samaritan Notes Policy was assessable 10 year Golden Handcuffs Hired claims adjuster with blood banking experience How important were the reinsurance intermediary relationships? 19
21 Initial Program Structure 20
22 The Original Reinsurance Program $5M $2M $100K EXCESS LAYER Cessions Excess of Loss $3MM xs $2M Per Claim PRIMARY LAYER Casualty Excess of Loss $1.9MM xs $100K Per Claim BCx Per Claim Retention Insured s SIR A Three Year Treaty Agreement to cover a portfolio (# of separate insureds) from a ceding company Multiple reinsurance companies can participate, all reinsurers agreeing to follow the terms and conditions set by the Lead reinsurer Two separate layers Reinsurers share of premium and losses is a percent of BCx premium 21
23 Benefits of This Structure Reinsurers goal was to maximize their share of premium Protection from severity Growth of written premium to over $5mm in year 6 Group benefited from hard market Growth in surplus meant RRG retention then increased to $250,000 22
24 Maintaining Reinsurance
25 Reinsurer Requirements Exclusions for new exposures Tissue and organ procurement Very conservative rating and reserving Introduction of a swing plan Annual aggregate retention above per claim retention Objective: Make Layer 1 reinsurance more loss rated 24
26 Illustration of Layer 1 Swing Plan Provisional premium is 25% of Gross Written Premium for Layer 1 Minimum rate is 12.5% of GWP Maximum rate is 48.5% of GWP Calculations are cumulative over the three years of each treaty Can anyone spell COMPLICATED? 25
27 Reinsurance Concerns
28 Loss of Critical Mass Health care organization structural changes Cost cutting pressure on insureds bottom lines Insureds want rate relief not future return of underwriting profits Rate reduction leads to proportionately higher reinsurance costs Mergers/acquisitions lead to loss of insureds Larger insureds can retain more risk Soft market: HIV no longer perceived as a threat Non-specialty insurers provide broader coverage 27
29 Are There Reinsurance Options That Should be Considered? 1. Fronted programs versus RRGs 2. Quota shares versus excess of loss 28
30 3 Key Factors to be Considered Size of the Group State of the Commercial Insurance Market Financial objectives of the Insureds 29
31 Questions? 30
32 Rate this session on the VCIA 2013 App! Go to the Event Icon on the VCIA App Click on the session you would like to rate Scroll down the screen Click on: Rate Session
ORSA for Captives. Vermont Captive Insurance Association 2013 Annual Conference. Moderator: Sandy Bigglestone, Director of Captive Insurance, VT DFR
ORSA for Captives Vermont Captive Insurance Association 2013 Annual Conference Moderator: Sandy Bigglestone, Director of Captive Insurance, VT DFR Panelist: Joelle Hren, VP, American Excess Insurance Exchange
More informationThe Reinsurance Placement Cycle
The Reinsurance Placement Cycle Session 507 Tuesday, June 9, 2015 1:30pm Overview Interactive session among four parties: Insurance Company Reinsurance Company Reinsurance Broker Audience Panel Members
More informationThe Reinsurance Placement Cycle
Session 507 Tuesday, June 10, 2014 1:45pm 3:15pm IASA 86 TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW Overview This will be an interactive session describing the placement of a reinsurance program
More informationVCIA 2013 App. vcia. To get QR Code Scanner, download one from the apps store on your device
How to Download Your VCIA 2013 App vcia vcia2013 Scan Your QR Code While using a barcode scanner, point your devices camera at QR code Download the App Plug in our Username: vcia And Password: vcia2013
More informationReinsurance 101: an Overview Session 107
Reinsurance 101: an Overview Session 107 Monday, June 9, 2014 1:30pm 3:00pm IASA 86 TH ANNUAL EDUCATIONAL CONFERENCE & BUSINESS SHOW Introductions Tim Corley Tim is a Senior Solutions Executive for Inpoint
More informationNew Laws and Regulations in Washington, DC
New Laws and Regulations in Washington, DC 1 NAIC Part A Accreditation Standards Examination Authority Capital and Surplus Requirement NAIC Accounting Practices and Procedures Corrective Action Valuation
More informationQuestions: Who does the agent work for? What was the agent doing at the time of the incident?
Chapter 8 1 An agent is a person authorized to act on behalf of another person who is the principal Duties of the agent: Loyalty Not to be negligent To obey instructions Duties of the principal: Pay the
More informationInvestor Presentation
Investor Presentation June 2014 Chesney House, 96 Pitts Bay Road Pembroke HM 08, Bermuda www.thirdpointre.bm Forward Looking Statements and Non GAAP Measures This presentation contains forward-looking
More informationAustralia and New Zealand
Executive Summary July 1 Renewals Update Catastrophe reinsurance pricing decreased moderately more aggressively for higher margin U.S. business than witnessed at January and June renewals. Catastrophe
More informationRisk Transfer Analysis
Risk Transfer Analysis CLRS 2009 Seminar Paul A. Vendetti, FCAS, MAAA Risk Transfer Principle based No bright-line indicator 10/10 Rule ERD at 1.0% It is an accounting decision CEO and CFO attest to the
More informationRating and Ratemaking
Rating and Ratemaking Ratemaking refers to the pricing of insurance and the calculation of insurance premiums A rate is the price per unit of insurance An exposure unit is the unit of measurement used
More informationIC Chapter 35. Business Transacted With Producer Controlled Property and Casualty Insurers
IC 27-1-35 Chapter 35. Business Transacted With Producer Controlled Property and Casualty Insurers IC 27-1-35-1 Applicability of law Sec. 1. This chapter applies to licensed insurers either domiciled in
More informationReinsurance Contracts: Clause and Effect
Reinsurance Contracts: Clause and Effect Session #607 Panel Members Pat Larsen, CPCU, ARe Vice President, Ceded Reinsurance/Account Executive American Agricultural Insurance Company Paul Poston, CPCU,
More informationTHIS SESSION WILL USE POLLING!
THIS SESSION WILL USE POLLING! (To access in an internet browser, go to vcia.cnf.io) Click on the Polling Icon on the VCIA app Click on your session Respond to the Polls HOW TO USE SOCIAL Q&A! (To access
More informationA.M. Best Rating Process for RRGs Writing Medical Professional Liability. September 23, 2010
A.M. Best Rating Process for RRGs Writing Medical Professional Liability September 23, 2010 Tina Bukow-Truman Senior Business Development Manager Jim Fowler Business Development Manager Henry Witmer Assistant
More informationInvestor Presentation September 2016
Investor Presentation September 2016 SAFE HARBOR STATEMENT This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section
More informationREINSURANCE. Caribbean Conference on Health Financing Initiatives Bermuda November 23, 2011 Lynne Woolridge, FLMI, FALU, HIA
REINSURANCE Caribbean Conference on Health Financing Initiatives Bermuda November 23, 2011 Lynne Woolridge, FLMI, FALU, HIA AGENDA What is it? How is it used? Who are the players? How is it distributed?
More informationINSTITUTE OF ACTUARIES OF INDIA
INSTITUTE OF ACTUARIES OF INDIA EXAMINATIONS 26 th November, 2012 Subject SA3 General Insurance Time allowed: Three hours (9.45* - 13.00 Hours) Total Marks: 100 INSTRUCTIONS TO THE CANDIDATES 1. Please
More informationTHIS SESSION WILL USE POLLING!
THIS SESSION WILL USE POLLING! (To access in an internet browser, go to vcia.cnf.io) Click on the Polling Icon on the VCIA app Click on your session Respond to the Polls HOW TO USE SOCIAL Q&A! (To access
More informationDOWNLOAD THE 2017 VCIA CONFERENCE APP!
DOWNLOAD THE 2017 VCIA CONFERENCE APP! To access in an internet browser, go to http://tiny.cc/vcia-app-2017 Download the app Create a profile using your email address View app MANY SESSIONS WILL USE POLLING!
More informationAppendix 7. In this appendix underlining indicates new text and striking through indicates deleted text. The DFSA Rulebook. Conduct of Business Module
Appendix 7 In this appendix underlining indicates new text and striking through indicates deleted text. The DFSA Rulebook Conduct of Business Module (COB) 2 CLIENT CLASSIFICATION 2.3 Types of Clients Market
More informationFoundations of Reinsurance
Foundations of Reinsurance Monday, September 23, 2013, 1:30 p.m. Marsha A. Cohen Senior Vice President & Director of Education Reinsurance Association of America Washington, D.C. Marsha A. Cohen is senior
More informationTHE PITFALLS OF EXPOSURE RATING A PRACTITIONERS GUIDE
THE PITFALLS OF EXPOSURE RATING A PRACTITIONERS GUIDE June 2012 GC Analytics London Agenda Some common pitfalls The presentation of exposure data Banded limit profiles vs. banded limit/attachment profiles
More informationTHE CHARTERED INSURANCE INSTITUTE. Read the instructions on page 3 carefully before answering any questions.
THE CHARTERED INSURANCE INSTITUTE P97 Diploma in Insurance Unit P97 Reinsurance April 2012 examination Instructions Three hours are allowed for this paper. Do not begin writing until the invigilator instructs
More informationThe Purpose of a Captive Captives vs. Traditional Insurance Structuring a Captive Determining the Feasibility and Goals of a Captive Domicile
The Purpose of a Captive Captives vs. Traditional Insurance Structuring a Captive Determining the Feasibility and Goals of a Captive Domicile Selection Partner Selection Operating a Captive Captive Advantages
More informationP1: PRE CONFERENCE SESSION: Introduction to Captive Insurance Monday, October 21, 2013, 3:00 pm to 5:00 pm
P1: PRE CONFERENCE SESSION: Introduction to Captive Insurance Monday, October 21, 2013, 3:00 pm to 5:00 pm Kevin Doherty Partner Nelson Mullins Riley & Scarborough, LLP Christopher L. Kramer Director of
More informationSuccessful Captives: Three Case Studies
Successful Captives: Three Case Studies 2018 World Captive Forum January 31 February 2, 2018 Fort Lauderdale, FL #WorldCaptiveForum Presenters: Andrew W. Kush Chief Administrative Officer Healthcare Services
More informationReinsurance Broker Request for Proposals I. INTRODUCTION
Reinsurance Broker Request for Proposals I. INTRODUCTION A. BACKGROUND The Special Districts Association of Oregon (SDAO) is a non-profit association of nearly 950 special district units of local governments
More informationPC2: Introduction to Captives
PC2: Introduction to Captives Martin Eveleigh Chairman, Atlas Insurance Management Kirk Mooneyham Managing Director, Wilmington Trust SP Services, Inc. What is a Captive Insurance Company? A captive insurance
More informationCaptive Primer An Introduction to Captive Insurance
Captive Primer An Introduction to Captive Insurance This Captive Primer is designed as an introduction to captives to inform those looking to for an introduction to and basic understanding of captives.
More informationINSURANCE COMPANIES' ERRORS AND OMISSIONS INSURANCE APPLICATION FORM
INSURANCE COMPANIES' ERRORS AND OMISSIONS INSURANCE APPLICATION FORM 1. Name of Company: 2. Principal Business Address: 3. State of Incorporation or Charter or Formation: 4. The Company has continuously
More informationBasic Reinsurance Concepts
Basic Reinsurance Concepts OVERVIEW What is Reinsurance Insurance/Reinsurance Similarities Parties to the Reinsurance Agreement Why Insurers Buy Reinsurance Types of Reinsurance Agreements How Reinsurance
More informationSelf Insured Workers Comp vs Group Captives
You Say SIG, I Say Captive Self Insured Workers Comp vs Group Captives Keith Fawcett Brent Re Duke Niedringhaus J.W. Terrill-Marsh & McLennan Agency Similarities of Captives & SIGs Provide a mechanism
More informationAssessing the Impact of Reinsurance on Insurers Solvency under Different Regulatory Regimes
Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized Working Paper 70136 Assessing the Impact of Reinsurance on Insurers Solvency under Different
More informationSingle Parent Risk Retention Group
Single Parent Risk Retention Group Gary Osborne, President - USA Risk Group Mike Meehan, Consultant - Milliman, Inc. Liability Risk Retention Act 1986 Federal Act allowing an insurance company licensed
More informationP&C Reinsurance Pricing 101 Ohio Chapter IASA. Prepared by Aon Benfield Inpoint Operations
P&C Reinsurance Pricing 101 Ohio Chapter IASA Prepared by Aon Benfield Inpoint Operations Agenda Focus on Treaty, P&C Reinsurance Certain concepts apply to Facultative and/or LYH Reinsurance Pro-Rata Reinsurance
More informationReinsurance (Passing grade for this exam is 74)
Supplemental Background Material NAIC Examiner Project Course CFE 3 (Passing grade for this exam is 74) Please note that this study guide is a tool for learning the materials you need to effectively study
More informationSupplemental Background Material. Course CFE 3. Reinsurance. (Passing grade for this exam is 74%)
Supplemental Background Material Course (Passing grade for this exam is 74%) Please note that this study guide is a tool for learning the materials you need to effectively study for this examination. As
More informationRenaissanceRe. Casualty Treaty
Syndicate 1458 Casualty Treaty Syndicate 1458 Casualty Treaty operates at Lloyd s of London through Syndicate 1458, which was established in 2009. is a leading global provider of property catastrophe and
More informationGrowth and profit opportunities in P&C R/I. Jürgen Gräber, Member of the Executive Board
Growth and profit opportunities in P&C R/I Jürgen Gräber, Member of the Executive Board 20th International Investors' Day Frankfurt, 19 October 2017 Did you know that... 1 Volume & profitability expectation
More informationReinsurance to Captive
Reinsurance to Captive Helping captives manage their risks geb.com 2 GEB - Reinsurance to Captive What is a captive? Reinsurance to Captive - GEB 3 Captive Company Multinational Head Office Retrocession
More informationINSURANCE REGULATION OMNIBUS CONSULTATION A CONSULTATION PAPER ON REVISION OF THE RULES AND GUIDANCE FOR LICENSED INSURERS
INSURANCE REGULATION OMNIBUS CONSULTATION A CONSULTATION PAPER ON REVISION OF THE RULES AND GUIDANCE FOR LICENSED INSURERS Issued 17 April 2018 This Consultation Paper makes proposals in respect of the
More informationGLOBAL CONSTRUCTION INDUSTRY
GLOBAL CONSTRUCTION INDUSTRY June 2015 www.willis.com PROPERTY / CASUALTY MARKET OVERVIEW OVERALL RESULTS Despite a decrease in 2014, net profit for the U.S. property/casualty insurance industry has been
More informationINSURANCE AGENTS AND BROKERS PROFESSIONAL LIABILITY APPLICATION
INSURANCE AGENTS AND BROKERS PROFESSIONAL LIABILITY APPLICATION 1. Name of Applicant (include all dba s): Primary Address: City: State: Zip Code: Are there any branch offices? If Yes, how many? In which
More informationReinsurance Structures and Pricing Pro-Rata Treaties. Care Reinsurance Boot Camp Josh Fishman, FCAS, MAAA August 12, 2013
Reinsurance Structures and Pricing Pro-Rata Treaties Care Reinsurance Boot Camp Josh Fishman, FCAS, MAAA August 12, 2013 Motivations for Purchasing Reinsurance 1) Limiting Liability [on specific risks]
More informationHe holds the Chartered Property Casualty Underwriter and Associate in Reinsurance designations.
Reinsurance Overview Tuesday, May 9, 2017, 1:00 p.m. Gary Myers, CPCU, ARe Lost Woods Re, LLC Centralia, Mo. Gary Myers is a familiar figure to many in the property/casualty insurance industry. Starting
More informationReinsurance Optimization The Theoretical and Practical Aspects Subhash Chandra Aon Benfield
1 st Capacity Building Seminar Reinsurance Optimization The Theoretical and Practical Aspects Subhash Chandra Aon Benfield Indian Actuarial Profession Serving the Cause of Public Interest 9 th August 2014
More informationOptimal reinsurance strategies
Optimal reinsurance strategies Maria de Lourdes Centeno CEMAPRE and ISEG, Universidade de Lisboa July 2016 The author is partially supported by the project CEMAPRE MULTI/00491 financed by FCT/MEC through
More informationManagement s Discussion and Analysis 2013
Management s Discussion and Analysis 2013 Maxum Specialty Insurance Group - NAIC Group Code # 3589 - Maxum Indemnity Company - NAIC Code # 26743 - Maxum Casualty Insurance Company - NAIC Code # 10784 Group
More informationDepartment of Insurance State of Arizona Captive Insurance Division Telephone: (602) Facsimile: (602)
Department of Insurance State of Arizona Captive Insurance Division Telephone: (602) 364-4490 Facsimile: (602) 364-3989 JANICE K. BREWER 2910 North 44 th Street, Suite 210 GERMAINE L. MARKS Governor Phoenix,
More informationCreating Effective Reinsurance Programs
Creating Effective Reinsurance Programs The Importance of Optimizing Clinical and Financial Outcomes Thomas D. Sass Chief Marketing Officer Presidio Reinsurance Group, Inc. Providing innovative, quality
More informationRe: NAIC Property and Casualty Reinsurance Study Group s Proposed Changes to Reinsurance Interrogatories
June 7, 2005 Mr. Joseph Fritsch, Chairman Property and Casualty Reinsurance Study Group National Association of Insurance Commissioners 2301 McGee Street, Suite 800 Kansas City, MO 64108-2604 Re: NAIC
More informationInsurance Chapter ALABAMA DEPARTMENT OF INSURANCE ADMINISTRATIVE CODE
ALABAMA DEPARTMENT OF INSURANCE ADMINISTRATIVE CODE CHAPTER 482-1-058 PLACEMENT OF PROPERTY AND CASUALTY INSURANCE ON A BROKERAGE BASIS TABLE OF CONTENTS 482-1-058-.01 Authority 482-1-058-.02 Purpose 482-1-058-.03
More informationSANDELL HOLDINGS LTD. CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015
CONSOLIDATED FINANCIAL STATEMENTS (AND INDEPENDENT AUDITOR S REPORT THEREON) FOR THE YEARS ENDED DECEMBER 31, 2016 AND 2015 CONSOLIDATED FINANCIAL STATEMENTS AS AT CONTENTS Independent Auditor s Report...
More informationGuideline. Earthquake Exposure Sound Practices. I. Purpose and Scope. No: B-9 Date: February 2013
Guideline Subject: No: B-9 Date: February 2013 I. Purpose and Scope Catastrophic losses from exposure to earthquakes may pose a significant threat to the financial wellbeing of many Property & Casualty
More informationAddressing an Increasing Attachment Point
Addressing an Increasing Attachment Point with a Blended Structure Excess Markets Layer A Single Integrated Policy with Client Funding & Risk Transfer Components: $400M Policy Period: 3 yrs (subject to
More informationHighly Experienced Underwriting Staff, with on Average, over 20 Years of Experience
Maiden Re Maiden Re is a Subsidiary of Maiden Holdings, Ltd., a Bermuda Domiciled Holding Company with Total Operating Capital in Excess of $1.55 Billion as of 9/30/2016. A (Excellent) Rating from A.M.
More informationReference Guide Captives Other Than Risk Retention Groups Updated as of September 2012
Department of Insurance State of Arizona Captive Insurance Division Telephone: (602) 364-4490 Facsimile: (602) 364-3989 Reference Guide Captives Other Than Risk Retention Groups Updated as of September
More informationINSTITUTE OF ACTUARIES OF INDIA
INSTITUTE OF ACTUARIES OF INDIA EXAMINATIONS 24 th March 2017 Subject ST8 General Insurance: Pricing Time allowed: Three Hours (14.45* 18.00 Hours) Total Marks: 100 INSTRUCTIONS TO THE CANDIDATES 1. Please
More informationFORM CR-F INDEX. Part 1 Assumed Reinsurance Property/Casualty Business. Part 2 Ceded Reinsurance Property/Casualty Business
FORM CR-F INDEX Part 1 Assumed Reinsurance Property/Casualty Business Part 2 Ceded Reinsurance Property/Casualty Business 2012 National Association of Insurance Commissioners 1 CR-F 2012 FORM CR-F PART
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 informationReinsurance Optimisation
Reinsurance Optimisation GIPC Reinsurance Working Party Steven Girvan, Will Gardner GIPC Reinsurance Working Party Steven Girvan, Will Gardner, Karl Marshall, Alison Drill, James Basman, Ty Birkett, Corinne
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 informationAccounting & Auditing Update: What changes are in store for your Company
Accounting & Auditing Update: What changes are in store for your Company Presenter 1 Joshua Partlow, Johnson Lambert LLP Presenter 2 Patti Palitto, Aon Risk Solutions August 14, 2013 VCIA All Rights Reserved
More informationFarm Mutual Reinsurance
Farm Mutual Reinsurance Tuesday,, 12:15 p.m. Tim Hein Senior Vice President Platinum Underwriters Reinsurance Schaumburg, Ill. Tim Hein is a senior vice president at Platinum Underwriters Re, Inc., where
More informationAlternative Risk Financing Options to More Control. AzSHRM Educational Session November 9, 2012
Alternative Risk Financing Options to More Control AzSHRM Educational Session November 9, 2012 Alternative Risk Financing Agenda Traditional Insurance Structure Conditions That Drive Alternative Risk Considerations
More informationECCLESIA ASSURANCE COMPANY. Financial Statements. December 31, 2010 and (With Independent Auditors Report Thereon)
Financial Statements (With Independent Auditors Report Thereon) KPMG LLP 345 Park Avenue New York, NY 10154 Independent Auditors Report The Board of Directors Ecclesia Assurance Company: We have audited
More informationFOR IMMEDIATE RELEASE
FOR IMMEDIATE RELEASE CONTACT: MEDIA: ANALYSTS: Brandon Davis, 312-822-5885 James Anderson, 312-822-7757 CNA FINANCIAL ANNOUNCES FOURTH QUARTER 2018 RESULTS Q4 NET LOSS OF $84M, $(0.31) PER SHARE; Q4 CORE
More informationAon Risk Solutions. Real Estate Practice. Fact-based Solutions for Real Estate Risk Management. Risk. Reinsurance. Human Resources.
Aon Risk Solutions Real Estate Practice Fact-based Solutions for Real Estate Risk Management Risk. Reinsurance. Human Resources. Do these problems sound familiar? My insurance broker doesn t understand
More informationOptimal Retention Levels How to get in the Zone
Optimal Retention Levels How to get in the Zone Panelists: James Evans, Albert Risk Management Consultants Stephen DiCenso, Milliman, Inc. Matthew Byrne, Cathedral Indemnity Company Moderator: Michael
More informationEDUCATIONAL NOTE DYNAMIC CAPITAL ADEQUACY TESTING PROPERTY AND CASUALTY COMMITTEE ON SOLVENCY STANDARDS FOR FINANCIAL INSTITUTIONS
EDUCATIONAL NOTE Educational notes are not binding. They are provided to help actuaries perform actuarial work and may include eamples, eplanations and/or options. DYNAMIC CAPITAL ADEQUACY TESTING PROPERTY
More informationSecond Revision Educational Note. Premium Liabilities. Committee on Property and Casualty Insurance Financial Reporting. July 2016.
Second Revision Educational Note Premium Liabilities Committee on Property and Casualty Insurance Financial Reporting July 2016 Document 216076 Ce document est disponible en français 2016 Canadian Institute
More informationRevised Educational Note. Premium Liabilities. Committee on Property and Casualty Insurance Financial Reporting. March 2015.
Revised Educational Note Premium Liabilities Committee on Property and Casualty Insurance Financial Reporting March 2015 Document 215017 Ce document est disponible en français 2015 Canadian Institute of
More informationLindsay Grimes Marsh USA Inc.
Lindsay Grimes Vice President Marsh USA Inc. 3560 Lenox Road NE Suite 2400 Atlanta, GA 30326 Lindsay.Grimes@marsh.com Date Client Name Title Address Subject: NFIP Engagement Letter Client Name, We are
More informationFirst Mutual Transportation Assurance Company. Finance Committee Presentation. May 21, 2018
First Mutual Transportation Assurance Finance Committee Presentation May 21, 2018 0 FMTAC Overview The First Mutual Transportation Assurance (FMTAC), an insurance subsidiary of MTA, was the first Captive
More informationToday s Presentation OVERVIEW OF SPONSORED INSURANCE PROGRAMS THE NEXT GENERATION OF ASSOCIATION SPONSORED INSURANCE PROGRAMS WEBINAR
THE NEXT GENERATION OF ASSOCIATION SPONSORED INSURANCE PROGRAMS WEBINAR Dixie Arthur, President, ASAE Services, Inc. Tony Benedetto, Executive Vice President, NASW Insurance Services Arthur Perschetz,
More informationOn-Demand Checks Trinity Health. All Rights Reserved. 1
On-Demand Checks 2014 Trinity Health. All Rights Reserved. 1 1 Housekeeping Do not place us on hold Close other programs Ask questions by raising your hand or by using Chat You may be asked to interact
More informationAon Benfield Fac. Capabilities Brochure
Aon Benfield Fac Capabilities Brochure Aon Benfield Fac Fac buying, once perceived as time consuming and administratively burdensome, is now accessible, efficient and strategic. Aon Benfield Fac is reducing
More informationRisks. Insurance. Credit Inflation Liquidity Operational Strategic. Market. Risk Controlling Achieving Mastery over Unwanted Surprises
CONTROLLING INSURER TOP RISKS Risk Controlling Achieving Mastery over Unwanted Surprises Risks Insurance Underwriting - Nat Cat Underwriting Property Underwriting - Casualty Reserve Market Equity Interest
More informationAmTrust Financial. KBW Insurance Conference. September 8, 2010
AmTrust Financial KBW Insurance Conference September 8, 2010 Forward Looking Statements This Presentation contains certain forward-looking statements within the meaning of Private Securities Litigation
More informationCell Company Overview and Innovative Applications
Cell Company Overview and Innovative Applications 2018 World Captive Forum January 31 February 2, 2018 Fort Lauderdale, FL #WorldCaptiveForum Presenters: Les Boughner Chairman Advantage Insurance Management
More informationNAIC BLANKS (E) WORKING GROUP
NAIC BLANKS (E) WORKING GROUP Blanks Agenda Item Submission Form DATE: 12/12/2016 CONTACT PERSON: Eva Yeung TELEPHONE: (816) 783-8407 EMAIL ADDRESS: eyeung@naic.org ON BEHALF OF: NAME: John Finston & Tom
More informationAnalysts conference call 14 February 2006
Analysts conference call Cautionary note on forward-looking statements Certain statements and illustrations contained herein are forward-looking. These statements and illustrations provide current expectations
More informationFBD HOLDINGS PLC 4 TH I N T E R I M R E S U L T S A U G U S T
1 FBD HOLDINGS PLC 2 0 1 7 I N T E R I M R E S U L T S A U G U S T 4 TH 2 Forward looking statements This presentation contains certain forward-looking statements. Actual results may differ materially
More informationFreedom of Establishment and Freedom to provide Services by a Maltese Insurance Undertaking and a Maltese Reinsurance Undertaking
Freedom of Establishment and Freedom to provide Services by a Maltese Insurance 1. Introduction 1.1 This Chapter applies to a Maltese insurance undertaking and a Maltese reinsurance undertaking seeking
More informationAllied World Assurance Company, Ltd. Consolidated Financial Statements and Independent Auditors' Report
Allied World Assurance Company, Ltd Consolidated Financial Statements and Independent Auditors' Report December 31, 2015 and 2014 INDEPENDENT AUDITORS REPORT To the Board of Directors and Shareholder of
More informationFBR Fall Capital Markets Investor Conference. December 2, 2009
FBR Fall Capital Markets Investor Conference December 2, 2009 Forward Looking Statements This presentation contains forward-looking statements which are made pursuant to the safe harbor provisions of the
More informationPart I: Accreditation Standards and the Related Models
Updated: March 27, 2018 Part I: Accreditation Standards and the Related Models Standard Cited Model Law Date Adopted as Standard Requirement Required Version Comments 1. Examination Model Law on Examinations
More informationMANY SESSIONS WILL USE POLLING!
MANY SESSIONS WILL USE POLLING! MANY SESSIONS WILL USE POLLING! Access via VCIA s Conference App or go to: vcia.cnf.io Go to the Polling Icon on the VCIA app Choose your session Click on the questions
More informationBUSINESS UPDATE Through June 8, 2017
Our Mission is to provide quality insurance security and related services to businesses, individuals and public institutions, and be a dependable long-term steward of the trust that policyholders and shareholders
More informationREINSURANCE OF INSURANCE RISK
May 5 th, 2017 REINSURANCE OF INSURANCE RISK Ing. Jan Hrevuš, Ph.D. Table of Contents o Definition and Purpose o Types of Reinsurance o Reinsurance Program: Example o Subjects on the Market o Renewal Process
More informationRetrospective Reinsurance unlocking value in the balance sheet
Retrospective Reinsurance unlocking value in the balance sheet Warren Dresner and Grant Hollyman Aon Benfield Australia Agenda Run-off possible solutions Statutory Transfers Loss Portfolio Transfers Adverse
More informationEnergy Insurance Mutual Limited. Audited Financial Statements. Years ended December 31, 2017 and 2016 with Report of Independent Auditors
Audited Financial Statements Years ended December 31, 2017 and 2016 with Report of Independent Auditors Audited Financial Statements Years ended December 31, 2017 and 2016 Contents Report of Independent
More informationTHE INSURANCE COMPANY OF THE WEST INDIES LIMITED Bahamas Branch Financial Statements
Financial Statements Independent Auditors Report 1 2 Appointed Actuary Report to the Board of Directors 3 Statement of Financial Position 4 Statement of Comprehensive Income 5 Statement of Changes in Home
More informationIMUA Outlook for the Property and Casualty Insurance Industry
IMUA 2015 Outlook for the Property and Casualty Insurance Industry Bryon Ehrhart CEO Americas Chairman, Securities and Analytics Prepared by U.S. Industry P&C Premium 600 $563B 500 400 300 200 100-2004
More informationReinsurance to Captive
Reinsurance to Captive Helping captives manage their risks geb.com 2 GEB - Reinsurance to Captive What is a captive? Reinsurance to Captive - GEB 3 Captive Company Multinational Head Office Retrocession
More informationPost July 2013 Renewal Update
Catastrophe Reinsurance Post July 213 Renewal Update 1 July 213 Australian and New Zealand Catastrophe reinsurance renewals saw an additional AUD1.2 billion of vertical catastrophe reinsurance purchased
More informationMORNING SESSION. Date: Thursday, October 30, 2014 Time: 8:30 a.m. 11:45 a.m. INSTRUCTIONS TO CANDIDATES
SOCIETY OF ACTUARIES Life Finance & Valuation U.S. Exam ILALFVU MORNING SESSION Date: Thursday, October 30, 2014 Time: 8:30 a.m. 11:45 a.m. INSTRUCTIONS TO CANDIDATES General Instructions 1. This examination
More informationDraft of Educational Note. Subsequent Events. Committee on Property and Casualty Insurance Financial Reporting. October 2008.
Draft of Educational Note Subsequent Events Committee on Property and Casualty Insurance Financial Reporting October 2008 Document 208069 Ce document est disponible en français 2008 Canadian Institute
More informationFall 2018 Investor Briefing
Nasdaq: KINS Fall 2018 Investor Briefing Includes financial data through June 30, 2018 Safe Harbor The issuer has filed a registration statement(including a prospectus and a prospectus supplement) with
More information