RISK FINANCE INSURANCE SOLUTIONS

Transcription

1 RISK FINANCE INSURANCE SOLUTIONS

2 MUTUAL & FEDERAL RISK FINANCING ABOUT US Mutual & Federal Risk Financing Limited (MFRF), is a registered cell captive insurer. MFRF is licensed to write Accident, Health, Engineering, Guarantee, Liability, as well as Miscellaneous, Motor, Property and Transportation classes of short-term insurance. The risk financing division provides large commercial, corporate, industrial and start up organisations, who wish to distribute niche insurance products to a captive client base, with a world-class risk financing facility and rent-a-captive facility. We follow a multi-disciplined approach to manage risk, giving clients access to a full range of conventional and risk financing products, including first and third party cells. We also have operations in Namibia and Botswana, and with our holding company called Old Mutual Emerging Markets (OMEM), we have further insurance capabilities across Africa. We recognise that each company s needs are unique and pride ourselves in partnering with our clients to bring down the total cost of their risk. Through our cell captive and risk financing services, we are able to offer the following solutions to our clients: Cell captive first and third party facilities. Client profiling and risk retention capacity analysis. Provision of solvency capital behind the programme at appropriate fees. Structuring of risk retention or catastrophe programmes. Management of reserves, capacity building and cash flows through the risk financing programme. Provision of management reports. Compliance support and oversight.

3 Development of appropriate policy documentation. Investment advice and services via Old Mutual Investment Group (OMIG). Access to the suite of products within the OMEM portfolio. WHAT YOU CAN EXPECT FROM MFRF We have a highly qualified and well balanced team, with significant experience. Our team is focused on service delivery and we strive for excellence. Our experienced Support Service Team provides Finance, Compliance, Actuarial and Quality Assurance support. Our time to market is generally two months from inception, depending on the clients specific operational requirements. MFRF support services and benefits in summary Investment strategy MFRF, with Old Mutual Investment Group (OMIG), offers clients a bespoke portfolio of products at an attractive rate. Clients are not obliged to partner with OMIG. Underwriting strategy Our underwriting model is based on a fit-for-purpose outcome and our products are aligned to Treating Customers Fairly principles. Our underwriting activities are supported by quality assurance checks and an internal audit is conducted at least once a year at no additional cost.

4 Actuarial and trend analysis Our full service actuarial team offers the following: Risk modelling, data analysis, product innovation and reserving. Business planning, management information and forecasting. Analysis where actuaries identify the key drivers of the net profit and sales volumes. Reinsurance structuring Our reinsurance strategy is uniquely defined per cell, accounting for capital requirements where access to expert skills is needed. MFRF could retain the underwriting risk of the cell, to ensure alignment of interest for both parties concerning the ongoing management of the business. Rating Our pricing team will assist with the rating of products taking into consideration the expenses and risk involved. Regular pricing reviews ensure that the product is appropriately priced for risk and cell profitability. Wording Our wordings comply with Treating Customers Fairly and is written in Plain Language. Our wordings are regularly reviewed, to ensure alignment with changes in regulation and legislation.

5 MFRF CLIENT SERVICES New facility set-up: Negotiate terms between relevant stakeholders. Communicate compliance and setup requirements to clients. Complete subscription and binder-holder agreements (including other agreements as required). Meet with the Cell Board to effectively govern the Cell. Assist with accounting requirements. Assist with underwriting and policy wordings. Existing facility management: Support engagement between MFRF and client. Follow-up on queries and issues. Support with financial reporting and accounting. Invest funds. We assist with the following: Set-up of Board meetings. Preparation of Board material. Attend and participate in board meetings. Documentation of and minute taking at board meetings. Provide feedback. Client engagement meetings: Prepare agendas and schedules for client engagements. Action items on minutes and manage deliverables. Analysis of cell performance. Annual reviews include: Compliance and governance assessments. Underwriting and financial performance assessments. Risk assessment. Compliance support: Ensure compliance with regulations at set up of facilities. Review changes to legislation and assist with implementation. Assist to update processes to ensure compliance. Legal support: Review legal documentation when required. This brochure is for promotional purposes only. The full terms, conditions and exclusions of cover are contained in the policy wording.

6 CONTACT US General Tel Head of Risk Finance Liza Harmse Tel Cell Business development executive Unathi Ntengo Tel Cell Business Development Executive and Special Projects Tim Osborne Tel Cell Business Development Executive and Actuarial Specialist Carolyn Thompson Tel Cell Address Old Mutual Insure Centre 75 Helen Joseph Street, Johannesburg 2001 South Africa For more information, please visit ombds L9712 This product is underwritten by Mutual & Federal Risk Finance