Welcome address lord levene, chairman, lloyd’s

Introduction antonio prida, member of the committee for uk mexico business relationships

Trends & strategic plans for mexico: risks and opportunities manuel aguilera, cnsf

Introduction to lloyd’s jose ribeiro, director, international markets, lloyd’s

© Lloyd’s5 1 Sobre Lloyd’s: Qué es y cómo funciona Seguridad y solvencia financiera 2 Lloyd’s en México 3 Resultados Índice

© Lloyd’s6 Qué es Lloyd’s?

© Lloyd’s7 Es el mercado lider de seguros especializados en el mundo

© Lloyd’s8 Lloyd’s es diferente! Lloyd’s es una sociedad de miembros que opera como un mercado de seguros. No es una compañía de seguros. Lloyd’s tiene miembros. No tiene accionistas ni socios.

© Lloyd’s9 Estructura de Lloyd’s

© Lloyd’s10 Participantes en Lloyd’s The Society & Corporation of Lloyd’s Miembros de Lloyd’s. Sindicatos de Lloyd’s Managing Agents. Lloyd’s Brokers Coverholders / Service companies

© Lloyd’s11 Fuente: Lloyd’s al 31/12/09; Estructura del mercado de Lloyd’s Miembros Asegurados  Directo  Reaseguro 53 Agentes Gestores Gestión 85 Sindicatos Suscripción Agentes (miembros) 181 corredores de Lloyd's Suscriptores Facultados Compañías de Servicio FLUJO DE NEGOCIOS PROVISIÓN DE CAPITAL  Corporativos  Personas Corporation of Lloyd’s

© Lloyd’s12 AGENTES GESTORES ( Managing Agents) Fuente: Lloyd’s al 01/01/09  Los sindicatos que suscriben riesgos en Lloyd's conjuntamente forman uno los aseguradores mas grandes del mundo, y un reasegurador líder.  El mercado de Lloyd's cuenta con 53 agentes gestores que administran 85 sindicatos. Members Policyholders  Direct  Reinsurance 48 Managing Agents Management 78 Syndicates Underwriting Members Agents BUSINESS FLOWCAPITAL PROVISION  Corporate  Individual Corporation of Lloyd’s Members Policyholders  Direct  Reinsurance 51 Managing Agents Management 80 Syndicates Underwriting Members Agents  Corporate  Individual Corporation of Lloyd’s 176 Lloyd’s Brokers Service Companies

© Lloyd’s13 SEGURIDAD Y SOLVENCIA FINANCIERA

© Lloyd’s14 Fortaleza y estabilidad Fuente: Society of Lloyd’s financial statements, Annual Report, (Marzo 2010) CADENA DE RESPALDO OFRECE EXCELENTE SEGURIDAD y EFICIENDIA DE CAPITAL 1 ER NIVEL 2 do NIVEL 3 er NIVEL Activos a nivel de sindicatos GBP 37,400m Fondos de miembros de Lloyd's GBP 13,159m ACTIVOS DIVERSOS ACTIVOS MUTUOS Fondo central GBP 983m Activos corporación GBP 143m Deuda subordinada / valores GBP 958m capa suplementaria GBP 683m

© Lloyd’s15 Ratings financieros Calificaciones Las principales agencias de calificación reconocen la fortaleza de Lloyd’s y su fuerte capitalización. Los ratings de Lloyd’s aplican a toda póliza emitida por cualquier Sindicato de Lloyd’s desde En los últimos años, nuestros ratings han resistido, prueba de nuestra fortaleza financiera y competitiva. Calificaciones confirmadas en Julio /Septiembre 2010 Fitch Ratings A+ (fuerte), estable Standard & Poor’s A+ (fuerte), estable A+A+ A A.M. Best A (excelente), estable

© Lloyd’s16 Lloyd’s en México

© Lloyd’s17 Posición de Lloyd’s en México ● registrado como reaseguradora extranjera desde 1985 ● primas : USD 330 millones (2009), crecimiento de 65% en últimos 5 años ● reclamaciones : respuesta y apoyo al mercado después de pérdidas catastróficas ● clases de riesgo todas las clases de P&C algunos nichos de A&E (accidentes y gastos médicos)

© Lloyd’s18 Resultados - benchmark Lloyd’s continues to compare well against its peers Sources: Sources i) Insurance Information Institute (estimate-2009), ii) Reinsurance Association of America, iii) Company data (8 European companies: 17 Bermudian companies) COMBINED RATIO

Coffee break

Lloyd’s – the broker perspective richard elias – chairman, howden insurance brokers

Lloyd’s – the benefits of being a lloyd’s coverholder nick hales – head of business development, talbot

Enter source, notes or legal copy here. LLOYD’S A COVERHOLDER’S PERSPECTIVE Nicholas J. Hales Managing Director Underwriting Risk Services Ltd

Enter source, notes or legal copy here. INTRODUCTION The delegated authority models – Service company – Coverholder – Managing General Agent (MGA) Facts How we utilise the models Attractive model to Lloyd’s Benefits of being a coverholder Q & A 23

Enter source, notes or legal copy here. DELEGATED AUTHORITY MODELS Service company “Service company coverholder” means an approved coverholder that – (a)Is associated with a managing agent by reason of – (i)It being a wholly owned subsidiary of the managing agent (ii) It being a wholly owned subsidiary of the managing agent’s holding company 24

Enter source, notes or legal copy here. DELEGATED AUTHORITY MODELS Coverholder A coverholder is a firm that is authorised by a managing agent under the terms of a binding authority to enter into a contract of insurance to be underwritten by members of a syndicate. 25 Insured Local Broker COVERHOLDERS Lloyd’s syndicates Lloyd’s Broker

Enter source, notes or legal copy here. DELEGATED AUTHORITY MODELS Coverholder They allow Lloyd’s syndicates to operate as if it were a local insurer A Lloyd’s syndicate delegates full or limited authority to a company (usually a broker) to commit to contracts on its behalf The rights and obligations of the coverholder are set out in a contract (the binding authority) which is renewed annually Coverholders issue the insurance documentation to policyholders Many coverholders are given the authority to handle claims The Lloyd’s Corporation approves all coverholders 26

Enter source, notes or legal copy here. DELEGATED AUTHORITY MODELS Managing General Agent A managing general agent (MGA) is a firm authorised by an insurer to transact insurance business who may have authority to bind the insurer, issue policies, appoint producers, adjust claims and provide administrative support for the types of insurance coverage pursuant to an agency agreement. 27

Enter source, notes or legal copy here. FACTS Approximately 2000 coverholders (ex UK) Approximately 200 service companies £6bn of premium transacted via these models to Lloyd’s Approximately 26% of Lloyd’s income 28

Enter source, notes or legal copy here. HOW WE USE THESE MODELS Service companySingapore Via Lloyd’s Asia platform Service companyMiami and Chile Latin American Treaty and Facultative Business from region Coverholders / MGA’SLocation:Specialising in: New YorkOnshore Energy / Marine LondonOnshore Energy / Yachts /Marine (Marinas) / Builders Risks / Fine Art DubaiEnergy / Construction 29

Enter source, notes or legal copy here. BENEFITS TO US Distribution channel and access to regional markets Become part of the local marketplace Focus on specialist / niche areas of underwriting Have a capacity which is attractive to local buyers Permit local underwriting to complement other areas 30

Enter source, notes or legal copy here. WHY ARE THESE ATTRACTIVE MODELS TO LLOYD’S? Agent of underwriters (not policyholders) Utilise local expertise / specialists Issue local documentation / Collect premiums / Pay claims Access point for Lloyd’s security into local markets 31

Enter source, notes or legal copy here. KEY BENEFITS OF BEING A COVERHOLDER Access to Lloyd’s brand, security and ratings Access to specialist underwriting expertise Ability to issue policies, authorise and handle claims 32

Enter source, notes or legal copy here. CONCLUDING REMARK Some Personal Thoughts “Coverholders represent and contribute to the strength and diversity of the Lloyd’s franchise. They should be seen as the focus for local knowledge, local relationships and the true local voice for the international Lloyd’s brand”. 33

Enter source, notes or legal copy here. Questions 34

Lloyd’s panel jose ribeiro richard elias nick hales antonio prida

Coffee & networking