International Insurance programs


Item 2                                                         International insurance programs



Non admitted coverage is not legal in all territories

Licensing rights are not granted in all territories



Concentration of markets where one could identify 16 key players worldwide

MAPFRE, IF, HDI GERLING, SWISS RE, ALLIANZ, GENERALI, ZURICH

QBE, RSA, FM GLOBAL AIG, LIBERTY MUTUAL, BERKSHIRE HATHAWAY

ACE CHUBB, AXIS GLOBAL, AXA XL

                                                                                                                                                                         



Pressure on differentiation is huge



Risks and opportunities would fall into the following categories



PRODUCT STRUCTURE

Delegated underwriting authority vehicle type, Class Line product



POLICY

Agreed terminology, legal differences, languages, wording structure and content



BEST PRACTICE

Social responsible investment, modern slavery statement, conduct risk



MARKET SIZE

Brokers impact and consolidation, reinsurance capacity, geographical hubs market share, single claims agreement



HUMAN

Securities claims, complaints log, increased litigation



REGULATORY

MIFID II, Market Abuse Regulation, IDD, SMCR, GDPR breaches



MACRO-ECO

Stagflation, currency jitters, capital and financial tumultuous markets



POLITICAL

Political risks, Sanctions exposure definition, Brexit (FOS)



FINANCIAL CRIME

Sanctions exposure, Cyber security



TECHNOLOGY

Cyber security, technology innovation




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