Transcript Quick Tour: Lloyd's International Reach

Quick Tour
Country Profiles
International Markets
Market Intelligence
January 2010
FOR MANAGING AGENTS AND BROKERS
Disclaimer
North America
Latin America
Europe
IMEA
Asia Pacific
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Offices
2
North
America
Europe
Latin
America
India,
Middle
East and
Africa
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China
Japan
Asia
Pacific
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North America
North America
Latin America
Europe
IMEA
Asia Pacific
Offices
Illinois
Kentucky
New York
Montreal
Toronto
US Virgin Islands
Representation
West Coast
3
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US
North America
Latin America
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
4
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
US
North America
Latin America
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 A large market that attracts investors and companies.
 Corporate reactivity and flexibility rest on the substantial sector and geographic mobility of the work force and the flexibility of labour legislation.
 The quality of higher education and universities and the size of the high technology sector contribute to maintaining R&D at a high level and foster the
capacity to innovate.
CHALLENGES
 The economy is highly dependent on property and financial asset values.
 The decline in the traditional manufacturing industry tends to keep the current account balance in deficit.
 Very large energy needs makes it crucial to allocate resources to investments focused on adapting to environmental constraints.
 Demographic pressures have exposed the inadequacy of health and retirement financing systems.
 The poor condition of infrastructure tends to undermine corporate competitiveness.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
US
16,000
14,265
Rankings
UK
US
2
14,003
1
12,000
Ease of Doing Business
UK
1.1%
US ranks 3rd out of 181 countries
0.7%
Global Competitiveness
US ranks 1st out of 134 countries
0
-1
8,000
2674
0
2008
5
Based on: > www.imf.org
2009 Forecast
2,007
-3
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-2.8%
-4
-4.1%
-5
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
01
Quick Links
-2
4,000
03
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
US
North America
Latin America
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 State Farm
> www.statefarm.com
 AIG
> www.aig.com
 Allstate
> www.allstate.com
 Travelers
> www.travelers.com
 Liberty Mutual
> www.libertymutual.com
 Nationwide
> www.nationwide.com
 Farmers
> www.farmers.com
 Berskshire Hathaway
> www.berkshirehathaway.com
 Progressive
> www.progressive.com
 Zurich
> www.zurich.com
Association
Insurance Information Institute
Regulator
National Association of Insurance Commissioners > www.naic.org
> www.iii.org
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
US
800,000
658,674
(direct non-life GWP per capita; USD)
UK
US
2,500
662,432
Broker Penetration
Estimated broker penetration: 75% – 100%
UK
2,177
2,000
600,000
1,276
1,500
400,000
115,725
0
107,393
2007
2008
6
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Quick Links
Insurance Information Institute
> www.iii.org/international/profiles/
1,000
200,000
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
500
0
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
© Lloyd’s
Lloyd’s Business
US
North America
Latin America
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s President, North America
Offices / Representation
Mr Henry Watkins
The Museum Office Building
25 West 53rd Street
14th Floor
New York NY 10019
Illinois
Ms Maryanne Swaim
US Virgin Islands
Mr Henry L Feuerzeig
 TELEPHONE
+1 312 407 6201
 TELEPHONE
+1 340 715 4443
 EMAIL
> [email protected]
 EMAIL
> [email protected]
 FAX
+1 212 382 4070
Kentucky
Mr Pat Talley
US West Coast
Mr Anthony Joseph
 EMAIL
> [email protected]
 TELEPHONE
+1 502 875 5940
 TELEPHONE
+ 1 310 706 4100
 EMAIL
> [email protected]
 EMAIL
> [email protected]
 TELEPHONE
+1 212 382 4090
 WEBSITE
> www.lloyds.com/america
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 11.00bn*
Direct:
USD 6.45bn*
Reinsurance:
USD 4.56bn*
*at constant prices; million USD
See: Data limitations for detail
7
Direct – Licensed: No, except, Illinois,
Kentucky and US Virgin Islands
Direct – Surplus Lines: Yes, except
Kentucky and the US Virgin Islands
Reinsurance: Most syndicates accredited
reinsurers in all 50 states
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> North America > US
© Lloyd’s
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Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Canada
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
8
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Canada
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 The North American Free Trade Agreement, involving Canada, the US and Mexico, has brought a trade boom for Canada.
 Economically and technologically the nation has developed in parallel with the US.
 Despite moderate deterioration of their profitability in the current unfavourable economic conditions, companies have in general remained in satisfactory
financial health with the several recent good years enabling them to firm up their balance sheets.
CHALLENGES
 Canada’s economy suffered due to persistently poor export performance — with a quarter of Canada's growth dependent on economic conditions in the US
and the downturn of investment.
 Canada faces the political challenges of meeting public demands for quality improvements in health care and education services, as well as responding to
separatist concerns in predominantly francophone Quebec.
 Canada also aims to develop its diverse energy resources while maintaining its commitment to the environment.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Canada
UK
3,000
Canada
1
2674
2,007
2,000
1,511
Rankings
1,229
0.7%
0.5%
Global Competitiveness
0
Canada ranks 10th out of 134 countries
-1
9
Based on: > www.imf.org
-4.1%
-5
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
10
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-2.5%
-4
2009 Forecast
08
Quick Links
-3
2008
Canada ranks 8th out of 181 countries
-2
1,000
0
Ease of Doing Business
UK
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Canada
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Intact
> www.intactinsurance.com
 Aviva
> www.avivacanada.com
 Coperators
> www.cooperators.ca
 TD
> www.tdcanadatrust.com
 Economical
> www.economicalinsurance.com
 State Farm
> www.statefarm.ca
 RSA
> www.rsa.ca
 Lloyd’s
> www.lloyds.com
 Wawanesa
> www.wawanesa.com
 Desjardins General
> www.desjardins.com
Association
Insurance Bureau of Canada
> www.ibc.ca
Regulator
OSFI
> www.osfi-bsif.gc.ca
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Canada
(direct non-life GWP per capita; USD)
UK
Canada
200,000
2,500
150,000
115,725
100,000
55,415
50,000
Broker Penetration
Estimated broker penetration: 75% – 100%
UK
2,133
2,000
107,393
57,319
1,276
1,500
2007
2008
10
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Quick Links
Insurance Information Institute
> www.iii.org/international/profiles/
1,000
500
0
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
0
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
© Lloyd’s
Lloyd’s Business
North America
Latin America
Canada
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s President for Canada
Ms Deborah Moor
1155 Rue Metcalfe
Suite 2220
Montreal
Quebec H3B 2V6
 TELEPHONE
+1 514 864 5484
 FAX
+1 514 861 0470
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/canada
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Direct: Lloyd's is licensed for all classes of insurance
Lloyd’s GWP:
USD 1.67bn*
Direct:
USD 1.43bn*
except life, title, mortgage, credit protection, home
warranty (in the province of British Columbia only) and
hail in respect of crop (in the province of Quebec only).
Reinsurance:
USD 235m*
Reinsurance: Lloyd's is licensed for all classes of
*at constant prices; million USD
See: Data limitations for detail
11
reinsurance except life, title, mortgage, credit protection,
home warranty (in the province of British Columbia only)
and hail in respect of crop (in the province of Quebec
only).
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> North America > Canada
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Europe
Latin America
Europe
IMEA
Asia Pacific
TYPE 1
Austria
Denmark
Norway
Portugal
TYPE 2
Greece / Cyprus
Israel
Malta
Netherlands / Belgium
TYPE 3
France
Germany
Ireland
Italy
Poland
Spain
Sweden
12
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Switzerland
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North America
Latin America
Austria – TYPE 1 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
13
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Austria – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Despite the deterioration of the economic context, Austrian companies are likely to remain in satisfactory condition. The past few years have allowed them
to flesh out their balance sheets and improve their cash positions.
 Austria country experienced no speculative property bubble and a weakening Euro, if sustained, is likely to enhance their competitiveness.
CHALLENGES
 The sectors with nonetheless higher risk profiles include construction, wood, home-appliance and furniture distribution, transport, and notably an
automotive subcontracting segment that has particularly suffered from the downturn of vehicle sales on the continent.
 Household consumption has thus become the bulwark of the economy while nonetheless remaining sluggish affected by weak wage growth and a
deteriorating job picture. The rise of unemployment, albeit moderate, is expected to offset the positive effects of easing inflation fiscal stimuli.
 Corporate investment is also expected to decline as a result of the credit crunch and weak foreign demand.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Austria
Austria
UK
3,000
Rankings
3
2674
2
2,007
2,000
Ease of Doing Business
UK
Austria ranks 27th out of 181 countries
1.8%
Global Competitiveness
0.7%
1
Austria ranks 14th out of 134 countries
0
-2
415
0
-3
362
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-3.0%
-4
-4.1%
-5
2008
14
Based on: > www.imf.org
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
14
Quick Links
-1
1,000
27
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Austria – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Generali
> www.generali.at
 Wiener Staedtische
> www.wienerstaedtische.at
 UNIQA
> www.uniqua.at
 Allianz
> www.allianz.at
 Donau
> www.donauversicherung.at
 Zurich
> www.zurich.at
 Grazer Wechselseitige
> www.grawe.at
 Oberosterrichische
> www.keinesorgen.at
 Niederoesterreichische
> www.noev.at
 Wuestenrot
> www.wuestenrot.at
Association
Verband der Versicherungsunternehmen
> www.vvo.at
Regulator
Bundesministerium fuer Finanzen
> www.fma.gv.at
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Austria
(direct non-life GWP per capita; USD)
UK
Austria
150,000
2,000
115,725
120,000
107,393
90,000
UK
1,569
1,500
1,276
1,000
60,000
30,000
11,876
13,095
0
2007
2008
15
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Quick Links
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
500
0
Broker Penetration
Estimated broker penetration: 25% – 50%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Austria – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Market Relations Manager
Dr Harald Svoboda
Kubac, Svoboda & Kirchweger
Rechtsanwälte (GbR)
Kantgasse 3
1010 Wien
Austria
Mr Volker Eutebach
 TELEPHONE
+49 (0)69 5970253
 FAX
+49 (0)69 550926
 EMAIL
> [email protected]
 TELEPHONE
+43 (0)1 713 07 13
 FAX
+ (43-1) 713 24 21
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/austria
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 54.6m*
Direct:
USD 18.6m*
Reinsurance:
USD 36.0m*
Services: Yes
Establishment: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
Reinsurance: Yes
> Managing Agent Version
> Europe > Eastern Markets
*at constant prices; million USD
See: Data limitations for detail
16
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Belgium – TYPE 2 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
17
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Belgium – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Multiculturalism and multilingualism, fostered by Belgium's geographic position and the presence of European institutions, have been assets in hosting
foreign companies and developing foreign trade.
 Located at the heart of a major economic area, Belgium is at the crossroads of many communication channels whether road, rail, or water transport.
 Belgium is the European country where company creation is the speediest.
 Household net worth ranks among the highest for industrialised countries.
CHALLENGES
 By limiting national prerogatives, regionalisation has complicated matters in reducing disparities between regions.
 A sufficiently competitive product and service offer is lacking in many economic sectors.
 The limited international scope of service companies is not conducive to innovation and development of high value-added sectors.
 Inadequate professional training has impeded youth employment, which has contributed to maintaining high structural joblessness.
 Deterioration of public sector finances has made it more difficult to implement measures intended to deal with the problems posed by an aging population.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Belgium
Belgium
UK
3,000
Rankings
2
2674
2,007
2,000
1
Ease of Doing Business
UK
1.1%
Belgium ranks 19th out of 181 countries
0.7%
Global Competitiveness
Belgium ranks 19th out of 134 countries
0
-1
506
0
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-3
434
-4
-3.8%
-5
2008
18
Based on: > www.imf.org
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
19
Quick Links
-2
1,000
19
-4.1%
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Belgium – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 AXA
> www.axa.be
 BNP Paribas Fortis
> www.fortis.be
 Ethias
> www.ethias.be
 KBC
> www.kbc.be
 Winterthur (AXA)
> www.winterthur.com
 Dexia
> www.dexia.be
 Allianz
> www.allianz.be
 DKV
> www.dkv.be
 Vivium
> www.vivium.be
 Mercator
> www.mercator.be
Association
Insurance Companies' Association
> www.assuralia.be
Regulator
Banking, Finance and Insurance Commission
> www.cbfa.be
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Belgium
(direct non-life GWP per capita; USD)
UK
150,000
1,400
115,725
120,000
107,393
90,000
Belgium
UK
1,277
1,276
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
30,000
14,527
16,358
0
2007
2008
19
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 50% – 75%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
200
0
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Belgium – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Alexis Fontein
Underwriters' in Belgium
c/o D’Hoine & Mackay
Schalienstraat 30
2000 Antwerp
Belgium
 TELEPHONE
+32 3470 2309
 FAX
+32 3470 2317
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/belgium
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 144.6m*
Direct:
USD 119.3m*
Reinsurance:
USD 25.2m*
Services: Yes
Establishment: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
Reinsurance: Yes
> Managing Agent Version
> Europe > Small Markets
*at constant prices; million USD
See: Data limitations for detail
20
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Cyprus – TYPE 2 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
21
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Cyprus – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Cypriot political and economic situation is stable.
 Corporate default probability is low on average.
 Consumption remained relatively strong in 2008, buoyed by wage growth, low interest rates, and renewed confidence associated with the country's entry
into the Euro zone.
 The pace of investment slowed, however, after the exceptional growth achieved these past years.
CHALLENGES
 The deterioration of international economic conditions has affected exports of goods and services.
 Private consumption is expected to suffer from the growth of household debt and the uncertainties stemming from the international financial crisis.
 Property investment will likely undergo a severe slowdown attributable particularly to the decline of demand from non-residents for housing.
 The election in February 2008 of Demetris Christofias as president on the promise of a dialogue with representatives of the Turkish community has
created a more propitious climate for resolving the Cypriot question. Although negotiations began in September 2008, many difficult issues remain on
the table like compensation for despoiled property and withdrawal of the Turkish troops garrisoned in the north of the island.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Cyprus
Cyprus
UK
3,000
Rankings
6
2674
2,007
2,000
4
Ease of Doing Business
UK
Cyprus ranks N/A out of 181 countries
3.7%
Global Competitiveness
Cyprus ranks 40th out of 134 countries
2
0.3%
0.7%
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-2
0
25
2008
-4
23
22
Based on: > www.imf.org
-4.1%
-6
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
40
Quick Links
0
1,000
N/A
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Cyprus – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Laiki
> www.laiki.com
 General Insurance of Cyprus > www.gic.com.cy
 Pancyprian Insurance
> www.hellenicbank.com
 Cosmos
> www.cosmosinsurance.com.cy
 Atlantic
> www.atlantic.com.cy
 Universal Life
> www.universallife.com.cy
 American Home
> www.aigcyprus.com
 Minerva
> www.minerva.com.cy
 Commercial General
> www.cgi.com.cy
 Alpha Insurance
> www.alphabank.com.cy
Association
Insurance Association of Cyprus
> www.iac.org.cy
Regulator
Insurance Companies Control Service
> www.mof.gov.cy
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Cyprus
(direct non-life GWP per capita; USD)
UK
Cyprus
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
800
600
60,000
Insurance Information Institute
> www.iii.org/international/profiles/
611
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
30,000
0
455
528
2007
2008
23
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
200
0
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Cyprus – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Ms Marianna Papadakis
Lloyd's Cyprus Limited
195 Arch Makarios lll Avenue
Neocleous House
Limassol 3030
Cyprus
 TELEPHONE
+44 0207 327 6802
 FAX
+44 0207 327 5255
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/cyprus
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 51.5m*
Direct:
USD 31.6m*
Reinsurance:
USD 19.9m*
Services: Yes
Establishment: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
Reinsurance: Yes
> Managing Agent Version
> Europe > Small Markets
*at constant prices; million USD
See: Data limitations for detail
24
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Denmark – Type 1 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
25
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Denmark – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Denmark has evolved into a modern, prosperous nation that is participating in the general political and economic integration of Europe.
 Denmark joined NATO in 1949 and the EEC (now the EU) in 1973. At the same time, the country has opted out of certain elements of the European
Union's Maastricht Treaty, including the European Economic and Monetary Union (EMU), European defence cooperation, and issues concerning certain
justice and home affairs.
 While Denmark was the first European country to slip into recession in 2008, exports managed to grow thanks to support from sales of services
(maritime trading), oil, and natural gas.
CHALLENGES
 Bankruptcies accelerated during 2008, particularly in sectors focusing on household consumption (construction and property and related branches,
wholesaling, and leisure).
 Denmark’s financial sector also suffered with company failures up significantly.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Denmark
Denmark
UK
3,000
2,007
2,000
0.7%
1
2674
Ease of Doing Business
UK
Denmark ranks 5th out of 181 countries
Global Competitiveness
0
Denmark ranks 3rd out of 134 countries
-1.1%
0
290
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4
-4.0%
-5
2008
26
Based on: > www.imf.org
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
3
Quick Links
-3
343
5
-1
-2
1,000
Rankings
-4.1%
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Denmark – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Tryg Skade
> www.tryg.dk
 Topdanmark
> www.topdanmark.dk
 Codan (RSA)
> www.codan.dk
 Alm. Brand
> www.almbrand.dk
 Danmark
> www.sygeforsikring.dk
 IHI Denmark (Bupa)
> www.ihi.com
 Alka
> www.alka.dk
 Nykredit
> www.nykredit.dk
 GF-Forsikring
> www.gf-forsikring.dk
 Danske Forsikring
> www.danskeforsikring.dk
Association
Forsikring & Pension
> www.forsikringenshus.dk
Regulator
Insurance Supervisory Authority
> www.ftnet.dk
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Denmark
(direct non-life GWP per capita; USD)
UK
Denmark
150,000
2,000
115,725
120,000
107,393
90,000
UK
1,750
1,500
1,276
1,000
60,000
30,000
10,244
11,367
0
2007
2008
27
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Quick Links
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
500
0
Broker Penetration
Estimated broker penetration: 25% – 50%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Denmark – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Nordic Area Manager
Mr Jes Anker Mikkelsen
Lloyd’s c/o Bech-Bruun
Langelinie Allé 35
DK-2100
Copenhagen
Denmark
Mr Erik Borjesson
Stureplan 4c
4th Floor
Stockholm
114 35 Sweden
 TELEPHONE
+45 (0)7227 3586
 TELEPHONE
+00 46 705 399 982
 FAX
+45 (0)7227 0027
 EMAIL
> [email protected]
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/denmark
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 166.4m*
Services: Yes, other than aircraft liability
Direct:
USD 119.5m*
Reinsurance:
USD 46.8m*
Establishment: Yes, other than life
insurance, suretyship, credit or tourist
assistance
*at constant prices; million USD
See: Data limitations for detail
28
Reinsurance: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Nordic Markets
© Lloyd’s
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Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
France – Type 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
29
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
France – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Good demographics facilitate generational renewal and spur household spending.
 Diversification of energy supply sources has resulted in relative energy independence.
 France boasts a trove of internationalised and completive major groups in many fields including energy, pharmaceuticals, cosmetics, luxury, and
distribution.
 A dynamic banking and financial sector has a strong presence abroad.
 A highly skilled labour force and high hourly productivity partly compensate for a short work year.
 Good quality infrastructure contributes to the country's attractiveness to tourists.
CHALLENGES
 The public finance deficit and debt are too high, particularly in view of the growth of health and pension spending.
 The concentration of decision-making authority in Paris and the multiple local administrative levels has not been conducive to reducing geographic
inequality.
 Deficiencies in education and training have not facilitated access to the employment market for youth and the relatively unskilled.
 The investment effort on R&D remains inadequate.
 A somewhat unsuitable sectoral specialisation and the limited presence of French companies in high-growth emerging regions have affected foreign
trade performance.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
France
UK
1
4,000
2,866
3,000
2,499
0.7%
2,007
0.7%
France ranks 16th out of 134 countries
2009 Forecast
16
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-3.0%
-4.1%
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
31
Quick Links
-2
-5
30
Based on: > www.imf.org
France ranks 31st out of 181 countries
-1
-4
2008
Ease of Doing Business
UK
Global Competitiveness
-3
1,000
France
0
2674
2,000
0
Rankings
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
France – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Covea
> www.covea.fr
 Axa
> www.axa.fr
 Groupama
> www.groupama.fr
 AGF Allianz
> www.allianz.fr
 Generali
> www.generali.fr
 Macif
> www.macif.fr
 MAIF
> www.maif.fr
 ACM
> www.acm.fr
 Credit Agricole / Lyonnais
> www.credit-agricole.com
 Swiss Life
> www.swisslife.fr
Association
Federation Française des Societes d'Assurances
Regulator
Secrétariat du Comité des entreprises d'assurance > www.ceassur.fr
> www.ffsa.com
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
France
(direct non-life GWP per capita; USD)
UK
France
150,000
1,360
115,725
120,000
83,229
90,000
91,861
107,393
1,340
UK
1,339
Quick Links
1,320
Insurance Information Institute
> www.iii.org/international/profiles/
1,300
60,000
1,276
1,280
30,000
1,260
0
2007
2008
31
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
1,240
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
France – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Guy-Antoine de La Rochefoucauld
Lloyd's France SAS
4 rue des Petits Pères
75002 Paris
France
 TELEPHONE
+33 1 42 60 43 43
 FAX
+33 1 42 60 14 41
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/france
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 736.3m*
Services: Yes
Direct:
USD 425.6m*
Reinsurance:
USD 310.7m*
Establishment: Yes, except life
assistance
*at constant prices; million USD
Reinsurance: Yes
See: Data limitations for detail
32
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Large Markets
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Germany – TYPE 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
33
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Germany – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Comparatively sound public accounts means that the German government may have additional room for manoeuvre, particularly at a time of crisis.
 Public and private efforts on research, already substantial, have been growing significantly.
 Smaller German companies – the Mittelstand – play a central role in the economy as regards employment, innovation, and competitiveness.
 "Co-determination" of joint-stock companies, mandatory with over 500 employees, has fostered consensus on strategic decisions and restructuring.
 Good geographic and sector specialisation in conjunction with high competitiveness has resulted in a large trade surplus that will doubtless begin to grow
again once the crisis is over.
 Geographically nearby Central and Eastern European countries provide companies with a wealth of sales and production opportunities.
CHALLENGES
 Heavily dependant on exports, the German economy is closely tied to world economic conditions.
 The plight of the persistently lagging economies of eastern Länder (federated states) is compounded by severe disparities between a north still dependent on
traditional economic sectors and a south highly focused on growth sectors.
 The family-type businesses prevalent in the Mittelstand complicate matters in obtaining bank financing that must comply with Basle II norms.
 Despite merger and acquisition activity spurred by the crisis, the banking landscape remains fragmented, which tends to undermine profitability in the sector.
 The inadequacy of facilities for small children has contributed to the low birth rate and aging of the population, which, in turn, have affected consumption.
 The high proportion of youth lacking an adequate general education has resulted in less involvement by companies in apprenticeship programmes — which
nonetheless concern two-thirds of the target age group – and in a lack of engineers.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Germany
3,668
4,000
3,000
Germany
UK
2
3,060
Rankings
1.3%
Global Competitiveness
Germany ranks 7th out of 134 countries
0
2,007
2,000
Germany ranks 25th out of 181 countries
0.7%
1
2674
Ease of Doing Business
UK
-1
-4
-4.1%
-5
0
-6
2008
34
Based on: > www.imf.org
2009 Forecast
2008
-5.6%
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
7
Quick Links
-2
-3
1,000
25
2009 Forecast
Insurance Environment
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Germany – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Allianz
> www.allianz.com
 HDI-Gerling
> www.hdi-gerling.com
 AXA
> www.axa.com
 R + V Allgemeine
> www.ruv.de
 Zurich
> www.zurich.com
 Victoria
> www.victoria.de
 Wuerttembergische
> www.wuerttembergische.de
 Gothaer
> www.gothaer.de
 Huk Coburg
> www.huk.de
Association
GDV
> www.gdv.de
Regulator
Bafin
> www.bafin.de
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Germany
150,000
121,446
120,000
(direct non-life GWP per capita; USD)
UK
131,807
Germany
2,000
115,725
107,393
90,000
UK
1,573
1,500
1,276
1,000
60,000
0
0
2007
2008
2008 Density
35
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Quick Links
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
500
30,000
Broker Penetration
Estimated broker penetration: 50% – 75%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Germany – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Market Relations Manager
Mr Burkard von Siegfried
Niederlassung für Deutschland
Gärtnerweg 3
60322 Frankfurt
Deutschland
Mr Volker Eutebach
 TELEPHONE
+ 49 (0)69 5970253
 EMAIL
> [email protected]
 TELEPHONE
+49 (0)69 5970253
 FAX
+49 (0)69 550926
 FAX
+ 49 (0)69 550926
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/germany
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 518.9m*
Direct:
USD 252.1m*
Reinsurance:
USD 266.9m*
Services: Yes
Establishment: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
Reinsurance: Yes
> Managing Agent Version
> Europe > Large Markets
*at constant prices; million USD
See: Data limitations for detail
36
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Greece – Type 2 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
37
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Greece – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Greece’s political and economic situation is good. A basically stable and efficient business environment nonetheless leaves room for improvement.
 Corporate default probability is low on average.
CHALLENGES
 Economic growth ran out of steam in 2008, in phase with the slowdown of domestic demand: household consumption slowed amid rising inflation and
investment declined significantly, affected by the collapse of residential construction.
 The government has outlined policies to cut the country's ballooning budget deficit in an effort to regain the trust of investors after some rating agencies
have put the country on negative watch
 Exports (tourism and merchant navy) suffered from the Euro appreciation, slumping foreign demand, and the slowdown of world trade.
 Greece’s current account deficit widened slightly again while public sector debt, also disproportionately large, declined substantially thanks to the
proceeds from privatisations.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Greece
Greece
UK
3,000
2674
2,007
2,000
1,000
358
0
2008
325
38
Based on: > www.imf.org
Rankings
2009 Forecast
4
3
2
1
0
-1
-2
-3
-4
-5
Greece ranks 96th out of 181 countries
2.9%
Global Competitiveness
Greece ranks 67th out of 134 countries
0.7%
67
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4.1%
2008
96
Quick Links
-0.2%
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
Ease of Doing Business
UK
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Greece – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Ethniki
> www.ethniki-asfalistiki.gr
 Interamerican
> www.interamerican.gr
 Agrotiki
> www.agroins.com
 Intersalonika
> www.intersalonika.gr
 Aspis
> www.aspis.gr
 Ydrogios
> www.ydrogios.gr
 Commercial Value
> www.commercialvalue.gr
 Groupama
> www.groupama.gr
 International Union
 General Union
Association
Association of Insurance Companies
> www.eaee.gr
Regulator
Private Insurance Supervisory Committee
> www.pisc.gr
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Greece
(direct non-life GWP per capita; USD)
UK
Greece
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
400
30,000
0
2,912
3,224
2007
2008
39
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
287
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
200
0
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Greece – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Ms Marianna Papadakis
Office in Greece
25A Boukourestiou Street
106 71 Athens
Greece
 TELEPHONE
+44 0207 327 6802
+30 210 363 9156
 FAX
+44 0207 327 5255
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/greece
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 221.5m*
Services: Yes
Direct:
USD 183.9m*
Establishment: Yes
Reinsurance:
USD 37.6m*
*at constant prices; million USD
Reinsurance: Yes
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Small Markets
See: Data limitations for detail
40
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Ireland – Type 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
41
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Ireland – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Ireland boasts a vibrant, globalised economy, with GDP per capita second only to Luxembourg's in the EU.
 The "Celtic Tiger" period of the mid to late 1990s saw several years of double-digit GDP growth, driven by a progressive industrial policy that boosted
large-scale foreign direct investment and exports.
CHALLENGES
 The decline of residential investment (11 per cent of GDP), which began as early as 2007 and will continue in 2009, has lopped off about 400 basis points
of GDP growth.
 The trend for corporate investment in both plant and facilities has been just as negative, affecting domestic actors as much as the foreign companies that
have contributed so substantially to the prosperity achieved in recent years.
 The reduction in public spending budgeted for 2009, intended to limit to the extent possible the severe widening of the fiscal deficit, is expected to affect
public works.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Ireland
Ireland
UK
3,000
Rankings
2
2674
2,007
2,000
0
218
Ireland ranks 22nd out of 134 countries
-2.3%
-4.1%
-8
42
Based on: > www.imf.org
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
22
Quick Links
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-8.0%
-10
2008
Global Competitiveness
7
-2
-6
273
Ireland ranks 7th out of 181 countries
0.7%
0
-4
1,000
Ease of Doing Business
UK
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Ireland – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Hibernian (Aviva)
> www.hibernian.ie
 Quinn
> www.quinn-direct.com
 Allianz
> www.allianz.ie
 FBD
> www.fbd.ie
 AXA
> www.axa.ie
 RSA
> www.rsa.ie
 Zurich
> www.zurich.ie
 Irish Public Bodies
> www.ipb.ie
 AIG
> www.aig.ie
 Combined
> www.combinedinsurance.ie
Association
Irish Insurance Federation
> www.iif.ie
Regulator
The Financial Regulator
> www.ifsra.ie
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Ireland
(direct non-life GWP per capita; USD)
UK
Ireland
150,000
UK
1,400
115,725
120,000
107,393
90,000
1,350
Quick Links
1,315
1,300
60,000
30,000
10,212
10,863
0
2007
2008
43
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
1,276
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
1,250
1,200
Broker Penetration
Estimated broker penetration: 75% – 100%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Ireland – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Eamonn P Egan
Lloyd’s Ireland Representative Limited
7-8 Wilton Terrace
Dublin 2
Ireland
 TELEPHONE
+35 31631 3600
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/ireland
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 245.5m*
Direct:
USD 172.9m*
Reinsurance:
USD 72.6m*
Services: Yes, except permanent health
insurance
Establishment: Yes, except permanent
health insurance
*at constant prices; million USD
See: Data limitations for detail
44
Reinsurance: Yes
Brokers have access to information via:
www.lloyds.com/MARKETPRESENTATIONS
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Large Markets
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Israel – Type 2 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
45
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Israel – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 With an open and diversified economy, Israel's engagement in the OECD accession process further strengthens its capacity to attract foreign direct
investment.
 The country holds leadership positions on high value-added products integrating advanced and intermediate technology.
 The work force is highly skilled.
 Israel can count on political and financial backing from the US and the Diaspora.
CHALLENGES
 Israel’s public sector debt, although in decline, is still high.
 A balkanised political landscape gives rise to shaky government coalitions that often complicate the budgetary process.
 Exports are dependent on economic conditions in the US.
 The climate of insecurity associated with the lingering Israeli-Palestinian conflict undermines the country's economic potential.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Israel
6
4
(in annual % change)
UK
Israel
3.9%
Israel ranks 30th out of 181 countries
2674
Global Competitiveness
2,007
2,000
0.7%
Ease of Doing Business
UK
3,000
2
Rankings
Israel ranks 23rd out of 134 countries
30
23
Quick Links
0
-2
-4
-4.1%
-6
2008
46
Based on: > www.imf.org
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
1,000
-1.7%
2009 Forecast
202
0
2008
204
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Israel – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Harel
> www.harel-group.com
 Clal
> www.clalbit.co.il
 Menorah
> www.menoramivt.co.il
 Phoenix
> www.fnx.co.il
 Migdal
> www.migdal.co.il
 Ayalon
> www.ayalon-ins.co.il
 Eliahu
> www.eliahu.co.il
 IDI
> www.555.co.il
 ILD
> www.ildinsur.co.il
 AIG
> www.aig.co.il
Association
Israel Insurance Association
> www.igudbit.org.il
Regulator
Ministry of Finance
> www.mof.gov.il
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Israel
(direct non-life GWP per capita; USD)
UK
Israel
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
800
764
Insurance Information Institute
> www.iii.org/international/profiles/
600
60,000
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
30,000
4,550
0
200
5,381
2007
2008
0
2008 Density
47
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Israel – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Jonathan Gross
Gibor Sport Bldg.
7 Menachem Begin Rd.
Ramat Gan 52521
Israel
 TELEPHONE
+972 (0)3 612 2233
 FAX
+972 (0)3 612 2233
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/israel
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 118.8m*
Direct:
USD 68.0m*
Reinsurance:
USD 50.8m*
Direct: Yes
Reinsurance: Yes
*at constant prices; million USD
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Small Markets
See: Data limitations for detail
48
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Italy – TYPE 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
49
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Italy – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 The renown of some economic sectors (luxury, home, clothing, food) compensates to some extent for high production costs.
 The smaller companies comprising some 200 industrial districts have been a major source of sectoral synergy.
 Italy's exceptional tourist potential enables it to fend off competition from new European destinations.
 Labour market reform has contributed to increasing employment and reducing unemployment.
CHALLENGES
 An inadequate proportion of high value-added products and high technological content has hampered export performance.
 The insufficient level of productivity gains is attributable to the inadequacy of the resources devoted to research, penetration by high technology in
companies, and number of higher education graduates.
 Tax evasion and the underground economy contribute to maintaining massive public sector debt that limits fiscal room for manoeuvre.
 Bureaucratic and legal procedures are slow despite the recent improvements in bankruptcy law.
 Massive subsidies have not sufficed to close the gap between the south and the rest of the country.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Italy
3,000
2,314
2,000
(in annual % change)
Italy
UK
2,007
Ease of Doing Business
UK
Italy ranks 65th out of 181 countries
Global Competitiveness
0
-1
-2
1,000
0.7%
1
2674
1,988
Rankings
Italy ranks 49th out of 134 countries
-1.0%
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4
-5
2008
50
Based on: > www.imf.org
2009 Forecast
-4.1%
-4.5%
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
49
Quick Links
-3
0
65
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Italy – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Allianz
> www.allianz.it
 Fondiaria-SAI
> www.fondiaria-sai.it
 Generali
> www.generali.it
 Compagnia Di Ass Di Milano
> www.milass.it
 Aurora
> www.auroraassicurazioni.it
 INA
> www.auroraassicurazioni.it
 Unipol
> www.unipol.it
 Toro
> www.toroassicurazioni.it
 AXA
> www.axa-italia.it
 Zurich
> www.zurich.it
Association
ANIA
> www.ania.it
Regulator
Insurance Supervisory Institute
> www.isvap.it
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Italy
(direct non-life GWP per capita; USD)
UK
Italy
150,000
UK
1,276
1,400
115,725
120,000
90,000
54,137
60,000
107,393
1,200
Quick Links
921
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
58,066
600
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
30,000
200
0
2007
2008
0
2008 Density
51
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 25% – 50%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Italy – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Enrico Bertagna
Corso Garibaldi 86
20121 Milano
Italy
 TELEPHONE
+ 39 02 637 8881
 FAX
+ 39 02 637 8881
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/italy
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 704.4m*
Direct:
USD 440.3m*
Reinsurance:
USD 264.1m*
Services: Yes
Establishment: Yes, except motor liability,
surety and life insurance
*at constant prices; million USD
See: Data limitations for detail
52
Reinsurance: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Large Markets
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Malta – Type 2 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
53
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Malta – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Malta has liberalised its economy since joining the EU in 2004 and joined the Euro zone in January 2008.
 After three years of strong expansion, economic growth stalled amid a deteriorating international environment.
 Malta’s very liquid banking sector means that there is little dependence on external financing even with a portfolio concentrated on property.
CHALLENGES
 The increase in the cost of living, decline of public sector investment, and lagging pace of new housing starts and investment in the manufacturing sector
resulted in a domestic demand slowdown.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Malta
3,000
(in annual % change)
Malta
UK
2
2674
2,007
2,000
Rankings
Ease of Doing Business
UK
Malta ranks N/A out of 181 countries
1.6%
0.7%
1
Global Competitiveness
Malta ranks 52nd out of 134 countries
0
-1
-2
1,000
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
0
2008
-4
7
54
Based on: > www.imf.org
-4.1%
-5
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
52
Quick Links
-1.5%
-3
8
N/A
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Malta – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Middlesea
> www.middlesea.com
 Gasan Mamo
> www.gasanmamo.com
 Atlas
> www.atlas.com.mt
 Elmo
> www.elmogroup.com
 Citadel
> www.citadelplc.com
Association
Malta Insurance Association
> www.maltainsurance.org
Regulator
Malta Financial Services Authority
> www.mfsa.com.mt
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Malta
(direct non-life GWP per capita; USD)
UK
Malta
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
400
30,000
0
697
2007
342
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
200
789
2008
0
2008 Density
55
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 25% – 50%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Malta – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Mark Gollcher
Lloyd's Malta Ltd
19 Zachary Street
PO Box 268
Valletta VLT1133
Malta
 TELEPHONE
+356 2569 1500
 FAX
+356 2123 4195
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/malta
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 20.7m*
Services: Yes
Direct:
USD 16.0m*
Establishment: Yes, except life
Reinsurance:
USD 4.7m*
*at constant prices; million USD
Reinsurance: Yes
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Managing Agents have access to information via:
www.lloyds.com/GLOBALOPPORTUNITIES
> Managing Agent Version
> Spreadsheet
See: Data limitations for detail
56
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Netherlands – TYPE 2 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
57
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Netherlands – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 The Dutch job market has remained comparatively buoyant in conjunction with a growth in real wages, which has spurred household spending.
 While exports have decelerated, they have continued to grow at a satisfactory rate underpinned by re-export business that represents 50% of the total
and by increasing prices for natural gas and refined oil.
 The fiscal surplus grew further driven by the earnings from gas.
CHALLENGES
 The credit crunch compounded by the world demand slowdown is expected to further undermine weaker companies in the manufacturing sector,
particularly electronics, information technology, and metal processing.
 Companies with labour-intensive or high-technology activities will be particularly vulnerable to the shortage of skilled labour and rising payroll costs.
Smaller companies in relatively poor financial health and operating in the domestic market could suffer from the slowdown of household consumption.
. Measures in support of the banking sector and to revitalise the economy in conjunction with a slowdown in earnings from gas will get the best of the fiscal
surplus the Netherlands has run since 2006 and increase the debt.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Netherlands
3,000
(in annual % change)
Netherlands
UK
2674
2,007
2,000
869
1,000
0
2008
743
58
Based on: > www.imf.org
2009 Forecast
3
2
1
0
-1
-2
-3
-4
-5
-6
Ease of Doing Business
UK
Netherlands ranks 26th out of 181 countries
2.0%
Global Competitiveness
0.7%
Netherlands ranks 8th out of 134 countries
26
08
Quick Links
-4.1%
-4.8%
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
Rankings
2009 Forecast
Insurance Environment
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Netherlands – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Achmea Zorg
> www.achmeazorg.nl
 Achmea
> www.achmea.nl
 Interpols
> www.interpolis.nl
 Nationale
> www.nn.nl
 Fortis
> www.holding.fortis.com
 VGZ
> www.vgz.nl
 Atradius
> www.atradius.nl
 Menzis
> www.menzis.nl
 Delta Lloyd
> www.deltalloydgroep.com
 AEGON
> www.aegon.nl
Association
Insurance Companies' Association
> www.verzekeraars.nl
Regulator
Authority for Financial Markets
> www.afm.nl
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Netherlands
(direct non-life GWP per capita; USD)
UK
Netherlands
150,000
5,000
115,725
120,000
90,000
66,481
107,393
73,712
4,000
Quick Links
3,000
Insurance Information Institute
> www.iii.org/international/profiles/
60,000
2,000
30,000
1,000
0
2007
2008
UK
4,484
1,276
0
2008 Density
59
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 25% – 50%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Netherlands – TYPE 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Alexis Fontein
Underwriters in the Netherlands
Hudig Veder & Co
Debussystraat 2
3161 WD Rhoon
Netherlands
 TELEPHONE
+31 1050 66600
Lloyd’s GWP:
USD 412.7m
 FAX
+31 1050 19593
Direct:
USD 325.5m
 EMAIL
> [email protected]
Reinsurance:
USD 87.2m
 WEBSITE
> www.lloyds.com/netherlands
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 412.7m*
Direct:
USD 325.5m*
Reinsurance:
USD 87.2m*
Services: Yes
Establishment: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
Reinsurance: Yes
> Managing Agent Version
> Europe > Large Markets
*at constant prices; million USD
See: Data limitations for detail
60
© Lloyd’s
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Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Norway – TYPE 1 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
61
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Norway – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Norway is expected to avoid slipping into deep recession, thanks to the traditional positive fallout from the offshore oil and gas activity.
 The exploitation of hydrocarbons is directly or indirectly generating a quarter of GDP.
CHALLENGES
 The poor economic context has been a decisive factor in the deterioration of corporate financial health for Norwegian companies.
 In 2008, bankruptcies increased 40% after declining for several years. The sectors affected most are expected to include construction, property services,
paper and printing, merchandise transport, transport equipment, and specialised commerce.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Norway
3,000
(in annual % change)
Norway
UK
3
2674
2
2,007
2,000
Rankings
Ease of Doing Business
UK
Norway ranks 10th out of 181 countries
2.0%
Global Competitiveness
0.7%
1
Norway ranks 15th out of 134 countries
0
-2
456
0
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-1.7%
-3
341
-4
-4.1%
-5
2008
62
Based on: > www.imf.org
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
15
Quick Links
-1
1,000
10
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Norway – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Gjensidige
> www.gjensidige.no
 IF Skade
> www.if.no
 Tryg Vesta
> www.trygvesta.no
 Spare Bank 1
> www.sparebank1.no
 Terra
> www.terra.no
 AIG
> www.aigeurope.no
 KLP
> www.klp.no
 Jernbarne
> www.jfg.no
 Trygg-Hansa (RSA)
> www.codanforsikring.no
 Bluewater
> www.unisonforsikring.no
Association
Insurance Association
> www.fnh.no
Regulator
Insurance Supervisory Authority
> www.kredittilsynet.no
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Norway
(direct non-life GWP per capita; USD)
UK
Norway
150,000
1,500
115,725
120,000
107,393
90,000
1,450
UK
1,456
Quick Links
1,400
1,350
1,276
1,300
60,000
8,003
0
8,771
2007
1,200
2008
1,150
2008 Density
63
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
1,250
30,000
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Norway – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Nordic Area Manager
Mr Espen Komnaes
Komnaes Braaten Skard DA
Ruseløkkveien 6
Pb.1661 Vika
N-0120 Oslo
Norway
Mr Erik Borjesson
Stureplan 4c
4th Floor
Stockholm
114 35 Sweden
 TELEPHONE
+47 23 11 45 60
 TELEPHONE
+00 46 705 399 982
 FAX
+47 23 11 45 75
 EMAIL
> [email protected]
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/austria
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 318.6m*
Services: Yes
Direct:
USD 198.3m*
Reinsurance:
USD 120.3m*
Establishment: Yes, except credit,
suretyship and term life.
*at constant prices; million USD
Reinsurance: Yes
See: Data limitations for detail
64
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Nordic Markets
© Lloyd’s
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Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Poland – TYPE 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
65
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Poland – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Integration into the EU and modernisation of the economy has enhanced Poland's growth potential.
 Inflation has been among the lowest in the region.
 The current account deficit, over half-covered by foreign direct investment, remains moderate compared to other regional countries.
 The government debt burden has been stable and external debt ratios have been kept at moderate levels.
CHALLENGES
 The investment rate remains inadequate.
 Employment has been low with payroll costs increasing sharply.
 Efforts need to continue as regards the regulatory framework, the functioning of the civil service, and infrastructure modernisation.
 Far-reaching reform of public spending remains to be undertaken.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Poland
3,000
(in annual % change)
UK
Poland
6
2674
2,007
2,000
Rankings
Ease of Doing Business
UK
Poland ranks 76th out of 181 countries
4.8%
Global Competitiveness
4
2
Poland ranks 53rd out of 134 countries
0.7%
526
0
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-0.7%
-2
403
-4
-4.1%
-6
2008
66
Based on: > www.imf.org
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
53
Quick Links
0
1,000
76
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Poland – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 PZU
> www.pzu.pl
 Warta
> www.warta.pl
 Ergo Hestia
> www.hestia.pl
 Allianz
> www.allianz.pl
 HDI
> www.hdi-asekuracja.pl
 Interrisk (VIG)
> www.interrisk.pl
 Compensa (VIG)
> www.compensa.pl
 Generali
> www.generali.pl
 UNIQA
> www.uniqa.pl
 PTU
> www.ptu.pl
Association
Insurance Association
> www.piu.org.pl
Regulator
Financial Supervision Authority
> www.knf.gov.pl
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Poland
(direct non-life GWP per capita; USD)
UK
Poland
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
400
30,000
7,674
0
9,933
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
262
200
0
2007
2008
2008 Density
67
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Poland – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Witold Janusz
Warsaw Financial Center
53, Emilii Platter Str.
00-113 Warsaw
 TELEPHONE
+ 48 602 247 091
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/poland
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 21.9m*
Direct:
USD 3.4m*
Reinsurance:
USD 18.5m*
*at constant prices; million USD
Services: Yes, except motor TPL
Establishment: Yes, except motor TPL
and life
Reinsurance: Yes
See: Data limitations for detail
68
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Poland
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
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Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
69
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Portugal – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Portugal's membership in the EU contributed to stable economic growth, largely through increased trade and an inflow of EU funds for infrastructure
improvements.
 Portugal's economy is based on traditional industries such as textiles, clothing, footwear, cork and wood products, beverages (wine), porcelain and
earthenware, and glass and glassware.
 More recently, Portugal has increased its role in Europe's automotive sector and has a world-class mold-making industry.
 Services, particularly tourism, are playing an increasingly important role.
 Partial privatisation of Portugal's TAP airline, INAPA papermaker, and Energias electricity supplier will moreover facilitate reducing the public debt.
CHALLENGES
 Bankruptcies have increased markedly, mainly in conversion industries, construction and wholesale sectors in the current financial climate.
 The textile-clothing and shoe industries has contended with stiff competition not only from low-cost countries but also from emerging
European and Euro-Med countries.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Portugal
3,000
(in annual % change)
UK
Portugal
1
2674
2,007
2,000
1,000
244
0
209
0
70
Based on: > www.imf.org
0.7%
Ease of Doing Business
UK
Portugal ranks 48th out of 181 countries
0.0%
Global Competitiveness
Portugal ranks 43rd out of 134 countries
-1
-2
Quick Links
-3
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
48
43
-4.1%
-4.1%
-5
2008
Rankings
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Portugal – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Fidelidade Mundial
> www.fidelidademundial.pt
 Imperio Bonanca
> www.imperiobonanca.pt
 AXA
> www.imperiobonanca.pt
 Tranquilidade
> www.tranquilidade.pt
 Zurich
> www.zurichportugal.com
 Allianz
> www.allianz.pt
 Ocidental
> www.ocidentalseguros.pt
 Acoreana
> www.acornet.pt
 Lusitania
> www.lusitania.pt
 Global
> www.global-seguros.pt
Association
Associacao Portuguesa de Seguradores
> www.apseguradores.pt
Regulator
Portuguese Insurance Institute
> www.isp.pt
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Portugal
(direct non-life GWP per capita; USD)
UK
Portugal
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
800
600
60,000
Insurance Information Institute
> www.iii.org/international/profiles/
598
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
30,000
6,047
0
200
6,423
0
2007
2008
2008 Density
71
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Portugal – TYPE 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Juan Arsuaga
c/o Simmons & Simmons
Lloyd’s Sucursal em Portugal
Rua D. Francisco Manuel de Melo, 21
1070-085 Lisbon
Portugal
 TELEPHONE
+351 21 388 34 79
 FAX
+351 21 313 20 01
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/portugal
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 32.6m*
Direct:
USD 19.1m*
Reinsurance:
USD 13.5m*
Services: Yes
Establishment: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
Reinsurance: Yes
> Managing Agent Version
> Europe > Small Markets
*at constant prices; million USD
See: Data limitations for detail
72
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Spain – TYPE 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
73
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Spain – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Spain is strong in the development of renewable energy technologies like solar panels and wind turbines (22% of electricity production).
 Close ties with much of the Americas and the use of a common language have contributed to expanding the presence abroad of players in banking,
hospitality, construction, and other sectors.
 The banking system has remained strong as a result of the limited development of private banking and the tight supervision exercised by the central bank.
 Growth of the working population due to the higher proportion of working women and to immigration constitutes a reservoir of economic expansion.
 Continued development of regional autonomy has fostered greater awareness by local actors of their responsibilities and brought public decision-makers
closer to those they serve.
 Spain remains a leading tourist destination.
CHALLENGES
 Heavy household and corporate debt constitutes a major vulnerability in times of crisis.
 There is currently no economic driver on the horizon capable of standing in for construction as a major source of growth.
 Excessive regulations and a lack of civil service efficiency, especially in the legal system, have weighed on trade relations.
 A deficient education system, vast reserves of temporary, relatively unskilled workers, have resulted in limited productivity gains.
 Productivity gains not large enough to offset production-cost increases.
 The outlook for many sectors will depend on decisions made by foreign multinationals increasingly attracted by more competitive locations
 Water management continues to pose problems due its immoderate use in agriculture and unequal regional distribution.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Spain
3,000
(in annual % change)
UK
Spain
2
2674
2,007
2,000
1,612
Rankings
1.2%
Ease of Doing Business
UK
Spain ranks 49th out of 181 countries
0.7%
1
Global Competitiveness
Spain ranks 29th out of 134 countries
0
-1
1,397
-3
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-3.0%
-4
0
-4.1%
-5
2008
74
Based on: > www.imf.org
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
29
Quick Links
-2
1,000
49
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Spain – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Mapfre
> www.mapfre.es
 AXA
> www.axa.es
 Allianz
> www.allianz.es
 Zurich
> www.zurich.es
 Caser
> www.caser.es
 Mutua Madrilena
> www.mutua-mad.es
 Adeslas
> www.adeslas.es
 Sanitas
> www.sanitas.es
Association
Insurance Company Association (UNESPA)
> www.unespa.es
Regulator
General Directorate of Insurance
> www.dgsfp.mineco.es
AGERS Conference
 Location:
Madrid
 Time:
12 November 2009
Semana Mundial del Seguro
 Location:
Barcelona
 Time
12 November 2009
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Spain
(direct non-life GWP per capita; USD)
UK
Spain
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
1,051
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
60,000
43,042
600
47,906
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
30,000
200
0
0
2007
2008
2008 Density
75
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 25% – 50%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Spain – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Juan Arsuaga
Calle José Ortega y Gasset 7
Edificio Serrano 49
1a Planta
28006 Madrid
Spain
 TELEPHONE
+34 91 426 2312
 FAX
+34 91 426 2394
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/spain
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 282.5m*
Direct:
USD 129.4m*
Reinsurance:
USD 153.1m*
Services: Yes
Establishment: Yes, except assistance,
life and death insurance
*at constant prices; million USD
See: Data limitations for detail
76
Reinsurance: Yes
Brokers have access to information via:
www.lloyds.com/MARKETPRESENTATIONS
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Large Markets
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Sweden – TYPE 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
77
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Sweden – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Sweden is a highly industrialised country. Agriculture, once accounting for nearly all of Sweden's economy, now employs less than 2% of the labour force.
 Extensive forests, rich iron ore deposits, and hydroelectric power are the natural resources which, through the application of technology and efficient
organisation, have enabled Sweden to become a leading producing and exporting nation.
CHALLENGES
 Exports have declined in the current global economic climate.
 In this context of feeble demand, corporate investment is expected to fall as will household investment in property.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Sweden
3,000
(in annual % change)
UK
Sweden
2,007
1,000
485
0
359
78
Based on: > www.imf.org
Ease of Doing Business
UK
Sweden ranks 17th out of 181 countries
Global Competitiveness
0
-1
Sweden ranks 4th out of 134 countries
-0.2%
-2
Quick Links
-3
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
17
04
-4.1%
-4.3%
-5
2008
0.7%
1
2674
2,000
Rankings
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Sweden – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Lansforsakringar
> www.lansforsakringar.se
 IF Skade
> www.ifs.se
 Trygg-Hansa
> www.trygghansa.se
 Folksam
> www.folksam.se
 Zurich
> www.zurich.se
 Moderna (TryggVesta)
> www.modernaforsakringar.se
 Solid
> www.solidab.se
Association
Swedish Insurance Federation
> www.forsakringsforbundet.com
Regulator
Financial Supervisory Authority
> www.fi.se
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Sweden
(direct non-life GWP per capita; USD)
UK
Sweden
150,000
UK
1,300
115,725
120,000
107,393
1,200
60,000
1,150
0
2,941
Insurance Information Institute
> www.iii.org/international/profiles/
1,155
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
1,100
3,996
2007
Quick Links
1,250
90,000
30,000
1,276
1,050
2008
2008 Density
79
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Sweden – TYPE 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Nordic Area Manager
Ms Eva Lindberg
Stureplan 4c
4th Floor
Stockholm
114 35 Sweden
Mr Erik Borjesson
Stureplan 4c
4th Floor
Stockholm
114 35 Sweden
 TELEPHONE
+46 (0)8 463 1111
 TELEPHONE
+00 46 705 399 982
 FAX
+46 (0)8 463 1010
 EMAIL
> [email protected]
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/sweden
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 129.5m*
Direct:
USD 73.6m*
Reinsurance:
USD 55.9m*
Services: Yes
Establishment: Yes, except assistance,
life and death insurance
*at constant prices; million USD
See: Data limitations for detail
80
Reinsurance: Yes
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Nordic Markets
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Switzerland – Type 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
81
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Switzerland – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 A privileged geographic location, political and social stability, quality financial services, and a moderate tax system have attracted investors.
 The presence of large industrial and financial groups that are among the world leaders has underpinned the current account surplus.
 The high density of cantonal and regional bank networks has fostered the development of smaller companies.
 The high level of R&D has spurred corporate competitiveness.
 Limited taxation of legal entities has fostered the creation of new companies.
CHALLENGES
 Non-membership in the EU, even tempered by bilateral agreements, tends to undermine trade in products and services.
 The lack of coordination between the confederation and the cantons on financial and administrative matters hinders reforms.
 Public and private regulations impede the foreign competition that might otherwise spur productivity improvement by Swiss companies.
 Public sector financial equilibrium will depend on continued efforts on the structural reforms needed to cope with increases in social services.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Switzerland
3,000
(in annual % change)
UK
2
2674
2,007
2,000
Rankings
Switzerland
1.6%
Ease of Doing Business
UK
Switzerland ranks 21st out of 181 countries
0.7%
1
Global Competitiveness
Switzerland ranks 2nd out of 134 countries
0
-1
493
0
-3
359
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-3.0%
-4
-4.1%
-5
2008
82
Based on: > www.imf.org
2009 Forecast
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
02
Quick Links
-2
1,000
21
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Switzerland – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 AXA (incl. Winterthur)
> www.axa.ch
 Zurich
> www.zurich.ch
 Schweizerische Mobiliar
> www.mobi.ch
 Allianz
> www.allianz.ch
 Helsana
> www.helsana.ch
 Basler
> www.basler.ch
 CSS
> www.css.ch
 Visana
> www.visana.ch
 Generali
> www.generali.ch
 Vaudoise
> www.vaudoise.ch
Association
Schweizerischer Versicherungsverband
> www.svv.ch
Regulator
FINMA
> www.finma.ch
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Switzerland
(direct non-life GWP per capita; USD)
UK
150,000
Switzerland
2,828
3,000
115,725
120,000
107,393
UK
2,500
Quick Links
2,000
90,000
1,276
1,500
60,000
19,390
30,000
0
1,000
21,596
2008
2008 Density
83
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
500
0
2007
Broker Penetration
Estimated broker penetration: 50% – 75%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Switzerland – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Graham West
Lloyd's Versicherer
Zweigniederlassung Zurich
Seefeldstrasse 7
8008 Zurich
Switzerland
 TELEPHONE
+41 (0) 7966 90099
 FAX
+ 41 44 266 6079
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/switzerland
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 346.1m*
Direct:
USD 162.5m*
Reinsurance:
USD 183.6m*
Direct: Yes, except life and legal
expenses
Reinsurance: Yes
*at constant prices; million USD
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Europe > Large Markets
See: Data limitations for detail
84
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Asia Pacific
Latin America
Europe
IMEA
Asia Pacific
TYPE 2
New Zealand
TYPE 3
Australia
Hong Kong
TYPE 4
China
Japan
SINGAPORE
85
QUICK TOUR (Country Profiles)
© Lloyd’s
North America
Latin America
Australia – Type 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
86
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Australia – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Australia's advanced market economy is dominated by its services sector (72% of GDP), yet it is the agricultural and mining sectors (8% of GDP
combined) that account for the bulk of Australia's exports (52%).
 Australia's comparative advantage in the export of primary products is a reflection of the natural wealth of the Australian continent and its small domestic
market.
 Since the 1980s, Australia has undertaken significant structural reform of its economy and has transformed itself from an inward-looking, highly protected,
and regulated marketplace to an open, internationally competitive, export-oriented economy.
CHALLENGES
 In 2009, the world financial and economic turbulence has also affected the Australian economy.
 Government measures to provide direct aid to households in conjunction with a lower benchmark interest rate will, however, be unlikely to revive
consumption.
 Private individuals are expected to continue to exercise great caution in making purchases, giving preference to building up emergency saving or paying
off debt as long as the job picture remains gloomy.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Australia
3,000
(in annual % change)
UK
Australia
2674
2,007
2,000
1,011
1,000
0
2008
755
87
Based on: > www.imf.org
2009 Forecast
3
2
1
0
-1
-2
-3
-4
-5
Ease of Doing Business
UK
Australia ranks 9th out of 181 countries
2.1%
Global Competitiveness
0.7%
Australia ranks 18th out of 134 countries
09
18
Quick Links
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-3.0%
-4.1%
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
Rankings
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Australia – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Vero
> www.vero.com.au
 IAG
> www.iag.com.au
 QBE
> www.qbe.com.au
 Allianz
> www.allianz.com.au
 AAMI
> www.aami.com.au
 CGU
> www.cgu.com.au
 GIO
> www.gio.com.au
 Suncorp Metway
> www.suncorp.com.au
 Zurich
> www.zurich.com.au
Association
Insurance Council of Australia
> www.insurancecouncil.com.au
Regulator
APRA
> www.apra.gov.au
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Australia
(direct non-life GWP per capita; USD)
UK
Australia
150,000
1,360
115,725
120,000
107,393
90,000
UK
1,349
1,340
Quick Links
1,320
1,300
1,276
1,280
60,000
27,514
30,000
28,254
1,220
2007
2008
88
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
1,260
1,240
0
Broker Penetration
Estimated broker penetration: 50% – 75%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Australia – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Keith Stern
Lloyd's Australia Limited
Level 21
Angel Place 123 Pitt Street
Sydney NSW 2000
Australia
 TELEPHONE
+61 2 9223 1433
 FAX
+61 2 9223 1466
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/australia
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Lloyd’s GWP:
USD 1.06bn*
Direct:
USD 856.7m*
Reinsurance:
USD 205.3m*
*at constant prices; million USD
See: Data limitations for detail
89
Trading Position
> www.lloyds.com/crystal
Market Intelligence
Direct: Yes, except certain compulsory
classes, life, certain health insurances and
stand-alone funeral expenses
www.lloyds.com/REGIONALWATCH
Reinsurance: Yes, except life and certain
health insurances
> Broker Version
> Asia Pacific > Established Markets
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Asia Pacific > Established Markets
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Brokers have access to information via:
Insurance Environment
Lloyd’s Business
North America
Latin America
China – Type 4 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
90
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
China – Type 4 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 China's external financial position has benefited from its competitive and diversified industry.
 Foreign investments have facilitated a gradual move upmarket.
 The development of infrastructure, galvanised by the 2008 Olympic Games in Beijing, provided support for long-term growth.
 A high corporate savings rate has enabled companies to fund most investments.
CHALLENGES
 China has experienced growing income disparity.
 Overcapacity has jeopardised several industrial and commercial sectors.
 Despite progress on prudential regulations and the entry of foreign investors, Chinese banks have remained comparatively weak in view of the rapid credit
expansion and uncertainties over the extent of non-performing loans.
 Rapid industrialisation poses a challenge for sustainable growth.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
China
6,000
5,000
4,402
UK
4,833
4,000
2674
3,000
2,000
1,000
0
2008
91
Based on: > www.imf.org
Rankings
2009 Forecast
2,007
10
8
6
4
2
0
-2
-4
-6
9.0%
China
China ranks 53rd out of 181 countries
Global Competitiveness
6.5%
China ranks 30th out of 134 countries
83
30
Quick Links
0.7%
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4.1%
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
Ease of Doing Business
UK
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
China – Type 4 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 PICC
> www.picc.cn
 China Pacific
> www.cpic.com.cn
 Ping An
> www.pingan.com.cn
 China United
> www.cicsh.com
 China Continent
> www.ccic-net.com.cn
 Tian An
> www.tianan-insurance.com
 An Bang
> www.ab95569.com
 Yong An
> www.yaic.com.cn
 Sunshine Insurance
> www.sinosig.com
 Taiping
> www.ctih.cntaiping.com
Association
Insurance Association of China
> www.iachina.cn
Regulator
CIRC
> www.circ.gov.cn
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
China
(direct non-life GWP per capita; USD)
UK
China
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
60,000
33,810
30,000
44,987
600
2007
2008
92
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
200
0
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
0
34
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
China – Type 4 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Market Development Manager
Participants on the Platform
Mr Eric Gao
Lloyd’s Reinsurance Company (China) Ltd
33rd floor, Azia Center
1233 Lujiazui Ring Road
Pudong
Shanghai 200120
Mr Tom Birbeck
Shanghai: (5)
ACE, Catlin, Navigators,
Starr, Travelers
London: (11)
Amlin, Arch, Atrium,
Beazley, Brit,
Chaucer, Kiln, Markel,
Marlborough, Meacock,
Sportscover (Argenta)
 TELEPHONE
+86 21 6162 8207
 EMAIL
> [email protected]
 TELEPHONE
+86 21 6162 8206
 FAX
+86 21 6162 8258
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/china
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 105.8m
Direct: No
Direct:
USD 6.8m*
Reinsurance:
USD 99.0m*
Reinsurance: Yes, onshore reinsurance
business can be written via Lloyd’s
Reinsurance Company (China) Ltd.
(LRCCL) and offshore reinsurance
permitted
*at constant prices; million USD
See: Data limitations for detail
93
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Asia Pacific > China
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Hong Kong – Type 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
94
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Hong Kong – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Hong Kong's specialisation in services, which represent 92% of its GDP, remains a major asset for the special administrative region.
 The banking system is solid and transparent.
 The good governance practices and efficient prudential regulations inherited from British law constitute major competitive advantages in Asia.
 Hong Kong boasts quality infrastructure including the world's second largest container port, an essential air traffic hub for Asia, and the world's second
largest cargo airport.
 Hong Kong has a unique status given its role in Renmimbi Settlement System
CHALLENGES
 Increasingly integrated with mainland China, the Hong Kong economy is becoming vulnerable to economic downturns on the mainland.
 The future role of Hong Kong as an international financial centre for China
 The linkage between nearly half of fiscal revenues and the property sector constitutes a source of vulnerability.
 Corporate financial information can be very sparse for unlisted companies, which have no obligation to publish their balance sheet.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Hong Kong
3,000
(in annual % change)
UK
2674
2,007
2,000
1,000
216
0
2008
206
95
Based on: > www.imf.org
2009 Forecast
3
2
1
0
-1
-2
-3
-4
-5
Hong Kong
2.5%
Ease of Doing Business
UK
Hong Kong ranks 4th out of 181 countries
Global Competitiveness
0.7%
Hong Kong ranks 11th out of 134 countries
04
11
Quick Links
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
2008
-4.5%
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
Rankings
-4.1%
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Hong Kong – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 HSBC
> www.hsbc.hk
 American Home
> www.aiu.com.hk
 BOC
> www.bochk.com
 Ming An
> www.mingan.com
 QBE
> www.qbe.hk
 AXA
> www.axa-insurance.com.hk
 Wing Lung
> www.winglungbank.com.hk
 Zurich
> www.zurich.hk
 Asia Insurance
> www.asiainsurance.hk
 AIA
> www.aia.hk
Association
Hong Kong Federation of Insurers
> www.hkfi.org.hk
Regulator
Office of the Commissioner of Insurance
> www.oci.gov.hk
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Hong Kong
(direct non-life GWP per capita; USD)
UK
Hong Kong
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
400
30,000
0
2,480
2,772
2007
2008
96
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 25% – 50%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
381
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
200
0
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Hong Kong – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Ms Alex Faris
Suite 1220
Two Pacific Place
88 Queensway
Hong Kong SAR
 TELEPHONE
+852 2918 9911
 FAX
+852 2918 9918
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/hongkong
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 150.9m*
Direct:
USD 122.5m*
Reinsurance:
USD 28.4m*
Direct: Yes, except life business
Reinsurance: Yes
*at constant prices; million USD
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Asia Pacific > Established Markets
See: Data limitations for detail
97
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Japan – Type 4 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
98
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Japan – Type 4 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 The current account surplus relies on the competitiveness of export industries in the electronic and automotive sectors.
 Restructuring has enabled large banks and companies to reduce their debt.
 Research and Development spending is a strategic component of corporate industrial policy.
CHALLENGES
 The rapid ageing of the population lends strategic importance to public sector financial consolidation.
 Social inequality, regional disparities, and bureaucratic dysfunction contribute to keeping household consumption low.
 Smaller companies often suffer from low productivity.
 There is a heavy dependence on imports of raw materials and food products.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Japan
6,000
4,924
5,000
Rankings
UK
Japan
8
4,833
Ease of Doing Business
UK
Japan ranks 12th out of 181 countries
6.5%
Global Competitiveness
6
Japan ranks 9th out of 134 countries
4
4,000
2674
3,000
2,000
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-0.6%
-4
0
2008
99
Based on: > www.imf.org
2009 Forecast
-4.1%
-6
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
9
Quick Links
0
-2
1,000
0.7%
2
2,007
12
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
JAPAN – Type 4 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Tokio Marine Nichido
> www.tokiomarinehd.com
 Mitsui Sumitomo
> www.msilm.com
 Sompo Japan
> www.sompo-japan.co.jp
 Aioi
> www.ioi-sonpo.co.jp
 Nippon Koa
> www.nipponkoa.co.jp
 Nissay Dowa
> www.nissaydowa.co.jp
 Fuji
> www.fujikasai.co.jp
 AIU
> www.aiu.co.jp
 Kyoei
> www.kyoeikasai.co.jp
 Nisshin
> www.nisshinfire.co.jp
Association
General Insurance Association of Japan
> www.sonpo.or.jp
Regulator
Financial Services Agency
> http://www.fsa.go.jp
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Japan
(direct non-life GWP per capita; USD)
UK
Japan
150,000
UK
1,276
1,400
115,725
120,000
96,084
107,393
90,000
1,200
Quick Links
1,000
800
60,000
44,987
30,000
829
Insurance Information Institute
> www.iii.org/international/profiles/
600
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
200
0
2007
2008
100
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 00% – 25%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
0
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
JAPAN – Type 4 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Participants on the Platform
Tokyo: (7)
Mr Iain Ferguson
Lloyd's Japan Inc.
Otemachi Financial Center 17F
1-5-4 Otemachi, Chiyoda-ku, Tokyo,
Japan 100-0004
Amlin, Beazley, Cassidy Davis, Catlin, Hardy,
Kiln and Travellers
 TELEPHONE
+ 81 3 3215 5297
 FAX
+ 81 3 3215 5292
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/japan
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 535.7m
Direct:
USD 35.9*
Reinsurance:
USD 499.8m*
Direct: Yes, vial Lloyd’s Japan Inc.; other
than certain exempt class
Reinsurance: Yes
*at constant prices; million USD
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Asia Pacific > Japan
See: Data limitations for detail
101
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
New Zealand – Type 2 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
102
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
New Zealand – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 New Zealand’s leading agricultural exports include dairy products, meat, forest products, fruit and vegetables, fish, and wool.
 New Zealand was a direct beneficiary of many of the reforms achieved under the Uruguay Round of trade negotiations, with agriculture in general and
the dairy sector in particular enjoying many new trade opportunities.
 The country has substantial hydroelectric power and reserves of natural gas.
 Leading manufacturing sectors are food processing, wood and paper products, and metal fabrication.
 Service industries, particularly financial, insurance, and business services, form a significant part of New Zealand's economy.
CHALLENGES
 New Zealand economy has been sharply decelerating since the spring of 2008 as a result of woeful export performance and less buoyant domestic
demand amid rising energy and raw material costs and a marked tightening of monetary policy.
 Downturns in non-residential construction and corporate capital spending has compounded the negative effects of the persistent weakness in residential
construction.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
New Zealand
(in annual % change)
UK
3,000
New Zealand
1
2674
2,007
2,000
0
New Zealand ranks 24h out of 134 countries
-1
103
Based on: > www.imf.org
2009 Forecast
24
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4.1%
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
02
Quick Links
-2.0%
-5
2008
New Zealand ranks 2nd out of 181 countries
Global Competitiveness
-4
91
Ease of Doing Business
UK
0
-3
128
0.7%
0.3%
-2
1,000
Rankings
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
New Zealand – Type 2 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 IAG
> www.iag.co.nz
 Vero
> www.vero.co.nz
 Lumley
> www.lumley.co.nz
 AMI
> www.ami.co.nz
 Tower
> www.tower.co.nz
 AIG
> www.aig.co.nz
 Farmers’ Mutual
> www.fmg.co.nz
 Allianz
> www.allianz.co.nz
 Ace
> www.aceinsurance.co.nz
 Medical Insurance Society
> www.medicals.co.nz
Association
Insurance Council of New Zealand
> www.icnz.org.nz
Regulator
Reserve Bank of New Zealand
> www.rbnz.govt.nz
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
New Zealand
(direct non-life GWP per capita; USD)
UK
150,000
1,320
115,725
120,000
107,393
90,000
New Zealand
1,316
UK
1,310
Quick Links
1,300
1,290
1,276
1,280
60,000
5,489
5,547
1,260
1,250
0
2007
2008
104
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
1,270
30,000
Broker Penetration
Estimated broker penetration: 75% – 100%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
New Zealand – Type 2 Office
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Scott Galloway
c/o Hazelton Law
Level 3
101 Molesworth Street
Wellington
New Zealand
 TELEPHONE
+64 4 472 7582
 FAX
+ 64 4 472 7571
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/newzealand
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 97.5m*
Direct:
USD 62.1m*
Reinsurance:
USD 35.4m*
Direct: Yes, except life
Reinsurance: Yes, except life
*at constant prices; million USD
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Asia Pacific > Established Markets
See: Data limitations for detail
105
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Singapore – Type 4 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
106
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Singapore – Type 4 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Singapore's quality and competitiveness is among the most advanced in Asia.
 A strategy of diversification, especially to high value-added sectors (chemicals, pharmaceuticals, and finance), constitutes a definite asset to the Singapore
economy.
 The country attracts substantial inflows of foreign direct investment due to an advantageous tax regime,
excellent business environment and political stability.
 Singapore has become a major investor within Asia, in many sectors including finance, telecommunications and transport via the state-controlled holding
company Temasek.
CHALLENGES
 The open economy in Singapore is vulnerable to the current economic downturn.
 Shortages of skilled labour have hampered the growth outlook of certain sectors in Singapore
 An ageing population could ultimately undermine the future economy.
 Social tensions could emerge in as a result of increasing long-term unemployment among less-skilled jobseekers.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Singapore
3,000
(in annual % change)
UK
2
2674
2,007
2,000
Rankings
Singapore
1.1%
Global Competitiveness
0
Singapore ranks 5th out of 134 countries
-2
-4.1%
-6
0
2008
177
107
Based on: > www.imf.org
-10
2009 Forecast
5
Quick Links
-10.0%
-12
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
01
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-8
182
Singapore ranks 1st out of 181 countries
0.7%
-4
1,000
Ease of Doing Business
UK
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Singapore – Type 4 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 American Home
> www.aiu.com.sg
 NTUC Income
> www.income.com.sg
 AXA
> www.axa.com.sg
 First Capital
> www.first-insurance.com.sg
 MSIG
> www.msig.com.sg
 AIA
> www.aia.sg
 QBE
> www.qbe.com.sg
 Mitsui Sumitomo
> www.ms-ins.com.sg
 Tokio Marine & Fire
> www.tokiomarine.com.sg
 Ace
> www.aceinsurance.com.sg
Association
General Insurance Association of Singapore
Regulator
Insurance and Reinsurance Supervisory Authority > www.mas.gov.sg
> www.gia.org.sg
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Singapore
(direct non-life GWP per capita; USD)
UK
Singapore
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
800
600
60,000
Insurance Information Institute
> www.iii.org/international/profiles/
630
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
400
30,000
4,204
5,083
0
2007
2008
108
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 50% – 75%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
200
0
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Singapore – Type 4 Office
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Participants on the Platform
Singapore: (15)
Mr Jon Song
Lloyd’s Asia
One George Street
#15-04/05
Singapore 049145
Amlin, Argenta, Ascot, Atrium,
Beazley, Canopius, Catlin,
Chaucer, Kiln, Markel, Newline
Asia, QBE, Talbot, Travelers,
Watkins
 TELEPHONE
+65 6538 7862
 FAX
+65 6538 7768
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/singapore
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
Direct:
Reinsurance:
Lloyd’s Asia:
USD 206.9m*
USD 116.0m*
USD 90.9m*
USD 163.8m♦
*at constant prices; million USD; ♦Lloyd’s Asia premium
refers to the premium written by Lloyd’s Asia participants
only, the domicile of this risk is not restricted to
Singapore See: Data limitations for detail
109
Direct: Yes, except life and compulsory
classes
Reinsurance: Yes, except life
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Asia Pacific > Singapore
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Latin America
Europe
IMEA
Asia Pacific
TYPE 1
ARGENTINA
Belize
Chile
TYPE 3
BRAZIL
110
QUICK TOUR (Country Profiles)
© Lloyd’s
North America
Latin America
ARGENTINA – Type 1 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
111
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
ARGENTINA – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 With abundant natural, energy, mineral and agricultural resources, Argentina has benefited from the strong world demand and high prices for raw
materials.
 The undervalued local currency has benefited BOTH domestic production and export competitiveness.
 The country's education level and human development indicators have been above the Latin American average.
 The work force is skilled and adaptable.
CHALLENGES
 The economy continues to be partially dependent on raw materials and suffers from insufficient investment particularly in the energy sector and
infrastructure.
 Despite the restructuring of its bond debt on favourable terms in June 2005 and early IMF repayment in January 2006, foreign debt is still high.
 Sustained improvement in public finances will depend on implementation of genuinely tight fiscal policy.
 Increase in inequality and social tensions have persisted.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Argentina
UK
3,000
Rankings
8
2674
2,007
2,000
Argentina
7.0%
Ease of Doing Business
UK
Argentina ranks 88th out of 181 countries
Global Competitiveness
6
Argentina ranks 64th out of 134 countries
4
0.7%
2
326
0
2008
-2
310
112
Based on: > www.imf.org
2009 Forecast
-4.1%
-6
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-1.5%
-4
64
Quick Links
0
1,000
88
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
ARGENTINA – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Fedaracion Patronal
> www.fedpat.com.ar
 Caja Seguros
> www.lacaja.com.ar
 Mapfre Argentina
> www.mapfre.com.ar
 HSBC Buesnos Aires
> www.hsbc.com.ar/ar/seguros
 Sancor
> www.sancor.com.ar
 Meridional
> www.lameridional.com
 San Cristobal
> www.sancristobal.com.ar
 Prevencion Art
> www.seguros-art.com.ar
 Provincia
> www.provinciaseguros.com.ar
 Segunda CSL
> www.lasegunda.com.ar
Asociacion Argentina de Companias de Seguros
Association
> www.aacrsa.org.ar
Superintendencia de Seguros de la Nacion
Regulator
www.ssn.gov.ar
>
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Argentina
(direct non-life GWP per capita; USD)
UK
Argentina
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
400
30,000
4,947
6,476
0
2007
2008
113
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 25% – 50%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
200
0
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
162
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
ARGENTINA – Type 1 Office
Europe
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr John Wilson
Las Heras 1274
Acassuso 1640
Buenos Aires
Argentina
 TELEPHONE
+ 54 11 4798 8975
 FAX
+ 54 11 4798 8975
 EMAIL
> [email protected]
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 7.1m
Direct:
USD 1.6m*
Reinsurance:
USD 5.5*
*at constant prices; million USD
Direct: Yes, through a local registered
intermediary except life, industrial life and
bond investment
Reinsurance: Yes, through a local
intermediary
See: Data limitations for detail
114
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Latin America > Small Markets
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
brazil – Type 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
115
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
brazil – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Brazil is endowed with extensive and varied natural resources and its economy has been diversifying for a while
 Manufactured products represent a growing proportion of production and exports.
 Macroeconomic stability is assured due to the continuity in Governmental Policy
 The capacity to cope effectively with the volatile international financial market has been increasing
 Brazil's domestic market potential and competitive labour costs enhance its attractiveness to foreign investors. .
CHALLENGES
 To achieve sustainable growth, structural reforms will be necessary — notably in education, social security, the employment market, taxation, and the
regulatory framework — but political obstacles remain.
 A lack of investment has resulted in deficient energy, rail, road, port and airport infrastructure with public/private partnership difficult to set up.
 Brazil remains exposed to fluctuations in world prices for various commodities.
 Public debt remains high
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Brazil
UK
3,000
Brazil
6
2674
2,007
2,000
1,573
1,269
Global Competitiveness
4
Brazil ranks 64th out of 134 countries
2
0.7%
2009 Forecast
64
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4.1%
-6
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
125
Quick Links
-1.3%
-4
116
Based on: > www.imf.org
Brazil ranks 125th out of 181 countries
5.1%
-2
2008
Ease of Doing Business
UK
0
1,000
0
Rankings
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
brazil – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Porto Seguro CIA
> www.portoseguro.com.br
 Unibanco AIG Seguros
> www.unibancoaig.com.br
 Seguradi Liderdo
> www.dpvatseguro.com.br
 Mapfre Ver Cruz
> www.mapfre.com.br
 Sul America
> www.sulamerica.com.br
 Itau
> www.itauseguros.com.br
 Atlantida
> www.atlantidaseguros.com.br
 Allianz
> www.allianz.com.br
 Bradesco
> www.bradescoautore.com.br
 Brasilveiculos
> www.bbseguroauto.com.br
Association
Federacao Nacional das Empresas deSeguros
Regulator
Superintendencia de Seguros Privados –SUSEP > www.susep.gov.br
> www.fenaseg.org.br
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Brazil
(direct non-life GWP per capita; USD)
UK
Brazil
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
20,508
30,000
25,074
0
2007
2008
117
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 75% – 100%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
400
200
0
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
129
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
brazil – Type 3 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
MANAGING AGENT REPRESENTATIVES
Rio de Janeiro: (6)
Mr Marco Castro
Lloyd’s Brazil, Avenida Almirante Barroso
No.52 Sala 2401 (Parte) Centro
Rio de Janeiro , CEP 20031-918/RJ
Brazil
Ace, Catlin, Kiln, Liberty,
Marlborough, Max
 TELEPHONE
+ 55 (21) 2220 8446
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/brazil
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 176.2m
Direct:
USD 5.0m*
Reinsurance:
USD 171.2m*
*at constant prices; million USD
Direct: No, permission / explicit approval
required, except marine cargo
Reinsurance: Yes, Lloyd’s is registered as
an 'Admitted' reinsurer in Brazil
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Latin America > Brazil
See: Data limitations for detail
118
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Belize – Type 1 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
119
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Belize – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 The service sector and nascent petroleum sector lead Belize's economic growth.
 A combination of natural factors – climate the longest barrier reef in the Western Hemisphere, numerous islands, excellent fishing, safe waters for
boating, jungle wildlife, and Mayan ruins--support the thriving tourist industry.

CHALLENGES
 Domestic industry is limited, constrained by relatively high-cost labour and energy and a small domestic market.
 A major constraint on the economic development of Belize continues to be the scarcity of infrastructure investments.
 Belize's economic performance is highly susceptible to external market changes.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Belize
UK
3,000
Belize
2674
2,007
2,000
1,000
0
1
2008
1
120
Based on: > www.imf.org
Rankings
2009 Forecast
4
3
2
1
0
-1
-2
-3
-4
-5
Belize ranks 78th out of 181 countries
3.0%
Global Competitiveness
1.0%
Belize ranks N/A out of 134 countries
0.7%
78
N/A
Quick Links
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4.1%
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
Ease of Doing Business
UK
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Belize – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Atlantic
> www.atlanticinsurancebz.com
 Guardian
> www.ggil.biz
 Home Protector Insurance
> www.homeprotector.bz
 ICB
> www.icbinsurance.com
 RF & G
> www.rfginsurancebelize.com
The Organization of Insurance Companies of Belize
Association
Regulator
Office of the Supervisor of Insurance >
www.governmentofbelize.gov.bz
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
(direct non-life GWP per capita; USD)
Broker Penetration
Estimated broker penetration: N/A
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Quick Links
N/A
N/A
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
121
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Belize – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Derek Courtenay
W H Courtenay & Co
187 Hutson Street
P O Box 214
Belize City
Belize
 TELEPHONE
+501 223 5701
 FAX
+501 223 9962
 EMAIL
> whc&[email protected]
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 7.1m
Direct:
USD 1.6m*
Reinsurance:
USD 5.5m*
*at constant prices; million USD
Direct: Yes, through a local registered
intermediary except life, industrial life and
bond investment
Reinsurance: Yes, through a local
intermediary
See: Data limitations for detail
122
Managing Agents have access to information via:
www.lloyds.com/GLOBALOPPORTUNITIES
> Managing Agent Version
> Spreadsheet
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Chile – Type 1 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
123
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Chile – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 The world leading copper producer, Chile is endowed with abundant mining, agricultural, piscicultural (notably salmon) and forestry resources, as well
as comparative advantages in those areas.
 The country has benefited from economic expansion for the past twenty years, coupled with a relative consensus on the orthodox economic policy
pursued.
 The growing number of free-trade agreements has facilitated geographic and sectoral diversification of exports.
 Political stability, quality institutions and infrastructure, and a solid financial system have fostered foreign investment in the country and its development
as a regional platform.
CHALLENGES
 The economy remains too dependent on copper exports (half total sales abroad) and low added-value sectors.
 To meet its energy needs the country remains dependent on foreign sources, particularly Argentine gas, pending the production start-up of a liquefied
natural gas facility in 2009/2010.
 The income gap — still among the world's highest due especially to disparities in the education system — has been a source of social tensions.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
Chile
UK
3,000
Rankings
Chile
4
2674
2,007
2,000
Ease of Doing Business
UK
Chile ranks 40th out of 181 countries
3.2%
2
Global Competitiveness
0.1%
0
Chile ranks 28th out of 134 countries
0.7%
170
0
2008
124
Based on: > www.imf.org
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4
136
2009 Forecast
-4.1%
-6
2008
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
28
Quick Links
-2
1,000
40
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Chile – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 RSA
> www.rsagroup.cl
 Chilena (Zurich)
> www.chilena.cl
 Penta
> www.pentasecurity.cl
 Interamericana
> www.interamericana.cl
 Mapfre
> www.mapfreseguros.cl
 Cardif (BNP Paribas)
> www.cardif.cl
 Liberrty
> www.liberty.cl
 Magallanes
> www.magallanes.cl
 BCI
> www.bci.cl
 ACE
> www.acelimited.com
Chilean Insurance Association
Association
www.aach.cl
>
Insurance Superintendency
Regulator
www.svs.cl
>
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
Chile
(direct non-life GWP per capita; USD)
UK
Chile
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
400
30,000
0
2,377
2,325
2007
2008
125
QUICK TOUR (Country
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 75% – 100%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
200
0
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
138
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Chile – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Emilio Sahurie
Estudio Carvallo
Coyancura 2283, Pisco 9
Santiago
Chile
 TELEPHONE
+56 2 676 9358
 FAX
+56 2 234 4167
 EMAIL
> [email protected]
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 106.5m
Direct:
USD 5.7m*
Reinsurance:
USD 108.8*
Direct: Lloyd's is approved to transact marine,
*at constant prices; million USD
aviation, and transport of international goods business.
Although, Lloyd's underwriters cannot offer any other
classes of insurance within Chile, a Chilean citizen or
entity is free to buy insurance abroad and to approach a
foreign insurer, with the exception for compulsory
classes.
See: Data limitations for detail
Reinsurance: Yes.
126
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Latin America > Small Markets
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
Europe
India, Middle East and Africa (IMEA)
IMEA
Asia Pacific
TYPE 1
Namibia
Zimbabwe
TYPE 3
SOUTH AFRICA
127
QUICK TOUR (Country Profiles)
© Lloyd’s
North America
Latin America
Namibia – Type 1 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
128
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
Europe
Namibia – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Business Environment > Strengths & Challenges
STRENGTHS
 Namibia has enjoyed remarkable political and social stability since independence from South Africa in 1990.
 Good ethnic intermixing due to large migrations from rural area to cities and a strong feeling of national identity forged during the struggle for
independence
 Namibia boasts extensive ore resources including diamonds, uranium, zinc and copper.
 Namibia belongs to SACU (Southern Africa Customs Union) and has benefited from the redistribution of Union customs revenues underpinned by South
Africa's performance.
CHALLENGES
 Namibia has suffered from an insufficiently diversified productive fabric with its economy largely resting on raw material exploitation and thus
vulnerable to external shocks.
 Economic growth was not sufficiently strong to significantly reduce a high unemployment and poverty rate.
 A 20% AIDS prevalence rate has impeded Namibia's development.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
Namibia
3,000
(in annual % change)
UK
Namibia
2674
2,007
2,000
1,000
0
8
2008
7
129
Based on: > www.imf.org
2009 Forecast
4
3
2
1
0
-1
-2
-3
-4
-5
Ease of Doing Business
UK
Namibia ranks 51st out of 181 countries
2.9%
Global Competitiveness
Namibia ranks 80th out of 134 countries
0.7%
80
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4.1%
2008
51
Quick Links
-0.7%
QUICK TOUR (Country Profiles)
Based on: > www.imf.org
Business Environment
Rankings
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Namibia – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Insurance Environment > Key Stakeholders and Events
Key Industry & Lloyd’s Events
Major Insurers
 Mutual & Federal
> www.mf.co.na
 Santam
> www.santam.co.na
 Hollard
> www.hollard.co.na
 Legal Shield
> www.legalshield.na
 Swabou
> www.outsurance.com.na
 NASRIA
> www.nasria.com.na
Association
Namibia Insurance Association
Regulator
Namibia Financial Supervisory Authority
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
(direct non-life GWP per capita; USD)
Broker Penetration
Estimated broker penetration: 50% – 75%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Quick Links
N/A
N/A
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
130
QUICK TOUR (Country Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Europe
Namibia – Type 1 Office
IMEA
Asia Pacific
> Back to Country Dashboard
Lloyd’s Business > Office Details
Lloyd’s General representative
Mr Peter Gruttemeyer
Ohlthaver & List Trust Company (Pty) Ltd
Carl List Haus
No. 27 Fidel Castro Street
PO Box 16
Windhoek
Namibia
 TELEPHONE
+264 61 207 5236
 EMAIL
> [email protected]
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 7.6m*
Direct:
USD 5.9m*
Reinsurance:
USD 1.7m*
Direct: Yes, through a local intermediary
Reinsurance: Yes, through a local intermediary
Managing Agents have access to information via:
www.lloyds.com/GLOBALOPPORTUNITIES
*at constant prices; million USD
See: Data limitations for detail
131
> Managing Agent Version
> Spreadsheet
© Lloyd’s
QUICK TOUR (Country Profiles)
Business Environment
Market Intelligence
Insurance Environment
Lloyd’s Business
North America
Latin America
SOUTH AFRICA – Type 3 Office
Europe
IMEA
Asia Pacific
Profile
Click Box to navigate
Business Environment
Insurance Environment
Lloyd’s Business
132
QUICK TOUR (Country Profiles)
 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
© Lloyd’s
North America
Latin America
SOUTH AFRICA – Type 3 Office
Europe
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Business Environment > Strengths & Challenges
STRENGTHS
 With the country generating 33 per cent of African GDP, its economic and political influence is influential on the continent.
 South Africa boasts extensive mining resources, diversified industry, and a high-performance tertiary sector (banks, telecommunications, transport).
 Public sector finances have been under control
 The government has enjoyed substantial capacity to contract new loans to other countries due to its creditworthiness in the current economic climate
 Tight economic management and the quality of the business environment represent a major asset to South Africa
CHALLENGES
 Under-investment in the infrastructure of energy has given rise to a chronic energy crisis likely to last for the next five years.
 A lack of skilled labour hinders implementation of vast investment projects in sectors such as transport and energy.
 Although South Africa is one of the main beneficiaries of foreign direct investment in sub-Saharan Africa, the investments falls short of covering its growing
finance needs.
 An increasing wage gap reflects the social and economic dualism inherited from apartheid with Black Economic Empowerment policies thus far not
contributing much to reducing the inequality that stirs social and political tensions
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
(at constant prices; billion USD)
(in annual % change)
South Africa
UK
3,000
South Africa
2674
2,007
2,000
1,000
277
0
2008
243
133
Based on: > www.imf.org
Rankings
2009 Forecast
4
3
2
1
0
-1
-2
-3
-4
-5
Hong Kong ranks 32nd out of 181 countries
3.1%
Global Competitiveness
Hong Kong ranks 45th out of 134 countries
0.7%
45
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
-4.1%
2008
32
Quick Links
-0.3%
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Based on: > www.imf.org
Business Environment
Ease of Doing Business
UK
2009 Forecast
Insurance Environment
Global Opportunities for business indicators
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SOUTH AFRICA – Type 3 Office
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Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
 Santam
> www.santam.co.za
 Mutual & Federal
> www.mf.co.za
 Hollard
> www.hollard.co.za
 Zurich Insurance
> www.zurich.co.za
 Outsurance
> www.outsurance.co.za
 Guardrisk
> www.guardrisk.co.za
 Absa
> www.absa.co.za
 Regent
> www.regent.co.za
 Auto & General
> www.autogen.co.za
 Standard
> www.standardbank.co.za
Association
South African Insurance Association
> www.saia.co.za
Regulator
Financial Services Board
> www.fsb.co.za
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
South Africa
(direct non-life GWP per capita; USD)
UK
South Africa
150,000
UK
1,276
1,400
115,725
120,000
107,393
90,000
1,200
Quick Links
1,000
Insurance Information Institute
> www.iii.org/international/profiles/
800
600
60,000
400
30,000
8,345
7,990
0
2007
2008
134
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Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Broker Penetration
Estimated broker penetration: 75% – 100%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
200
0
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
164
2008 Density
Profiles)
Based on: > www.swissre.com > “World Insurance in 2008”
Insurance Environment
Global Opportunities for insurance indicators
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> www.lloyds.com/marketintelligence
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Lloyd’s Business > Office Details
Lloyd’s General representative
General Representative & Non-Executive Chairman
Mr Amit Khilosia
General Manager
Lloyd's South Africa (Pty) Ltd
7th Floor , The Forum
2 Maude Street, Sandton 2196
South Africa
Mr John Sibanda
 TELEPHONE
+27 11 884 0486
 EMAIL
> [email protected]
 TELEPHONE
+27 11 884 0486
 FAX
+27 11 884 0384
 EMAIL
> [email protected]
 WEBSITE
> www.lloyds.com/southafrica
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 252.1m*
Direct:
USD 177.8m*
Reinsurance:
USD 74.3m*
Direct: Yes, except compulsory classes,
funeral expenses and life
Reinsurance: Yes
*at constant prices; million USD
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Business Environment
Managing Agents have access to information via:
www.lloyds.com/REGIONALWATCH
> Managing Agent Version
> Latin America > South Africa
See: Data limitations for detail
135
Market Intelligence
Insurance Environment
Lloyd’s Business
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Zimbabwe – Type 1 Office
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Profile
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Business Environment
Insurance Environment
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 Key strengths and challenges of the economy
 Size and growth of the economy
 Basic economic indicators
 Key insurers
 Insurance industry events
 Basic insurance indicators
 Lloyd’s office details and contacts
 Trading position and size of Lloyd’s business
 Available market intelligence products
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Zimbabwe – Type 1 Office
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Business Environment > Strengths & Challenges
STRENGTHS
 The world's second-largest platinum producer, Zimbabwe brims with mineral wealth (palladium, gold, nickel).
 Zimbabwe boasts considerable farm potential.
 Varied geological environments — with some, like Lake Victoria, classified as world heritage sites by UNESCO — endow Zimbabwe with substantial
tourism development potential.
 An extensive road network should be propitious to economic recovery in the medium term.
 A skilled Diaspora would likely constitute an asset in the framework of efforts to consolidate the economy.
CHALLENGES
 The effects of the current crisis will take considerable time to overcome given the dire economic and financial position of Zimbabwe.
 A lack of investment contributes to the gradual disintegration of transport and energy infrastructure.
 Hyperinflation has sealed the disorganisation of commerce and production
 Deterioration of the food and sanitary situation has compounded the dilapidation of the economy, with most of the population dependent on international
aid for subsistence.
 With a 16% AIDS prevalence rate, the proportion of the population infected in Zimbabwe is amongst the highest in Africa and the world.
Based on: > http://globaledge.msu.edu/
Business Environment > Basic Indicators
Gross Domestic Product (GDP)
Gross Domestic Product (GDP) Growth
Rankings
(at constant prices; billion USD)
(in annual % change)
Ease of Doing Business
Zimbabwe ranks 158th out of 181 countries
Global Competitiveness
Zimbabwe ranks 133rd out of 134 countries
NA
NA
158
133
Quick Links
Doing Business > www.doingbusiness.org
Competitiveness > www.weforum.org
137
Based on: > www.imf.org
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Based on: > www.imf.org
Business Environment
Insurance Environment
Global Opportunities for business indicators
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> www.lloyds.com/marketintelligence
Lloyd’s Business
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Zimbabwe – Type 1 Office
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Insurance Environment > Key Stakeholders and Events
Major Insurers
Key Industry & Lloyd’s Events
• Nicoz Diamond
> www.nicozdiamond.co.zw
 RM Insurance
> www.rminsurance.co.zw
 Cell Insurance Zimbabwe
> www.cellinsurance.co.zw
 Altfin
> www.altfininsurance.co.zw
 Tristar
> www.tristarinsurance.co.zw
 Heritage
> www.heritage.co.zw
Association
Insurance Association of Zimbabwe
Regulator
Insurance Council of Zimbabwe
> www.zimtreasury.org
> www.lloyds.com/News_Centre/Events
Insurance Environment > Key Statistics
Gross Written Premiums (GWP)
Density
(direct non-life GWP at constant prices; million USD)
(direct non-life GWP per capita; USD)
Broker Penetration
Estimated broker penetration: 50% – 75%
Based on soft intelligence and Axco, Statistics:
> www.axcoinfo.com/
Quick Links
N/A
N/A
Insurance Information Institute
> www.iii.org/international/profiles/
Worldwide Assecuranz Directory
> http://assecuranz.kompass.com/
138
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Based on: > www.swissre.com > “World Insurance in 2008”
Based on: > www.swissre.com > “World Insurance in 2008”
Business Environment
Insurance Environment
Global Opportunities for insurance indicators
© Lloyd’s
> www.lloyds.com/marketintelligence
Lloyd’s Business
North America
Latin America
Zimbabwe – Type 1 Office
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Lloyd’s Business > Office Details
Lloyd’s General representative
Ms Emilia Chisango
c/o KPMG
Mutual Gardens
100 The Chase (West) Emerald Hill
Harare
Zimbabwe
 TELEPHONE
+263 430 2600
 EMAIL
> [email protected]
Lloyd’s Business > Key Statistics, Trading Position and Market Intelligence
2008 Lloyd’s Gross Written Premiums
Trading Position
> www.lloyds.com/crystal
Lloyd’s GWP:
USD 3.1m*
Direct:
USD 1.5m*
Reinsurance:
USD 1.6m*
Direct: Yes, through a local intermediary
Reinsurance: Yes, through a local intermediary
Managing Agents have access to information via:
www.lloyds.com/GLOBALOPPORTUNITIES
*at constant prices; million USD
See: Data limitations for detail
139
> Managing Agent Version
> Spreadsheet
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North America
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Data limitations:
Please note the information contained in this document is based upon data collected from Xchanging and may be incomplete for some classes of
business; for instance a substantial figure, which is missing from the REG 258 data set is comprised of UK Motor, which is not processed by
Xchanging.
Gross Premiums: Original and additional inward premiums, plus any amount in respect of administration fees or policy expenses remitted with a
premium but before the deduction of outward reinsurance premiums.
Lloyd’s figures are based on gross written premiums based on figures processed by Xchanging by processing year and country of origin.
o
Country of Origin: denotes the country from where demand for the insurance / reinsurance emanates; i.e. the coverholder or
policyholder, irrespective of the country to which the risk is classified for regulatory reporting purposes.
o
Processing Year: relates to the calendar year in which the premium, additional or return premium is processed by Xchanging,
irrespective of the actual underwriting year of account of the risks (which is determined by the inception date of each risk).
Example: A policy holder in the UK insuring a holiday home in France would be classified as a UK risk by Country Of Origin, but French for regulatory
reporting purposes. Similarly a risk incepting on 1st December 2007 would be classified at 2007 underwriting year of account but may not be processed
by Xchanging until 2008 and so be allocated to the 2008 processing year.
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