Transcript Summary of Investment

L’actuaire à l’étranger.
Nicolas ROSSKOPF
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J.C. Flowers & Co. LLC
Agenda
Company Overview
Legal environment in Luxemburg
Actuarials
2
J.C. Flowers & Co. LLC
Strategy & Company Overview
NPG's Markets
NPG targets highly affluent individuals (HAIs) and high net worth individuals
(HNWIs) in Western and Northern Europe
Geographical Coverage
Target Customers
Net assets: € 5-30m
Net assets:
€ 2-5m
HNWIs
Unbundled
Products2)
Bundled
Products1)
HAIs
Mass market
1) Bundled Product: Standardized product with fund managers
and investment options selected by NPG and managed within
unit-linked life insurance policies
Wealth management solutions and financial planning
2) Unbundled Product: Bespoke product with broader range of
assets (incl. hedge funds, private equity) selected by the client or
fund manager and managed within dedicated life insurance
policies.
Only wealth management solutions
Headquarter in Luxembourg
Confidential
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J.C. Flowers & Co. LLC
Strategy & Company Overview
Positioning of NPG
NPG targets a specific, profitable niche in the European Wealth
Management landscape
1.
…cross-border solutions
2.
using investment-based life
insurance products
3.
with minimal residual guarantees
Confidential
NPG provides…
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principally in Europe
4.
to the HAI segment and upwards
5.
via independent distribution.
6.
J.C. Flowers & Co. LLC
2009 Financial Results of my group
In 2009, NPG profited from strong sales and recovering financial markets
Market
Environment
New Business
Key Figures
– The Wealth Management Business largely recovered in 2009
after the financial crisis.
– NPG's fees are partly linked to Assets under Management. The
Group therefore profited from the recovery in equity markets.
– New sales performed well in 2009.
– NPG diversified its business
– At the end of the year, NPG managed client assets of € 6.1bn
(+ 12%).
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J.C. Flowers & Co. LLC
2009 Preliminary Financial Results
Client Assets
In 2009, NPG's client assets grew by 12%
(€ bn)
7.0
+ 19%
+ 33%
+ 12%
6.1
6.0
5.5
5.0
4.1
4.0
ATP BDA: 0.3
ATP LUX: 0.4
CUIL: 0.6
3.5
3.0
2.0
PEL: 2.9
1.0
31/12/06
31/12/07
31/12/08
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31/12/09
J.C. Flowers & Co. LLC
Agenda
Company Overview
Legal environment in Luxemburg
Actuarials
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J.C. Flowers & Co. LLC
Legal reporting :
8
J.C. Flowers & Co. LLC
Legal reporting :
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J.C. Flowers & Co. LLC
Agenda
Company Overview
Legal environment in Luxemburg
Actuarials
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J.C. Flowers & Co. LLC
Moses : beaucoup de sociétés à gérer.
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J.C. Flowers & Co. LLC
Currencies : Risque de change à gérer.
Altraplan Assurance
Currency conversion rates
Balance sheet :
(based on Euro closing rates)
As at
30
June
2008
Profit & loss:
SUN
(*)
USD (BM1)
USD
ATS
AUD
BEF
BMD
CAD
CHF
CZK
DEM
DKK
ESP
EUR
FIM
FRF
GBP
HKD
I000
IEP
ITL
JPY
LTL
LUF
NLG
NOK
NZD
PTE
SEK
USD
XEU
ZAR
Austria
Australia
Belgium
Bermuda
Canada
Swiss Francs
Czech Koruna
Germany
Denmark
Spain
Europe
Finland
France
Britain
Hong Kong
Italian lira 1000
Ireland
Italian lira
Japan
Lithuania
Luxembourg
Netherlands
Norway
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=
New Zeland dollars =
Portugal
=
Sweden
=
US of America
=
CEE
=
South Africa
=
0,114545
0,959417
0,039072
1,000000
0,985804
0,981740
0,065902
0,805882
0,211260
0,009473
1,576168
0,265092
0,240285
1,991040
0,128240
0,814023
2,001321
0,000814
0,009433
0,456329
0,039072
0,715234
0,196313
0,761035
0,007862
0,166246
1,000000
1,576168
0,127733
GLOBUS
(/)
BM1
USD
8,730222
1,042300
25,593650
1,000000
1,014400
1,018600
15,174000
1,240876
4,733500
105,563598
0,634450
3,772268
4,161719
0,502250
7,797900
1,228467
0,499670
1.228,466502
106,015000
2,191400
25,593650
1,398144
5,093900
1,314000
127,195805
6,015200
1,000000
0,634450
7,828800
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Red = Fixed rate
Blue = Variable
rate
SUN
(*)
EUR (LU1)
EURO
0,072673
0,609236
0,024789
0,634450
0,625586
0,623053
0,041812
0,511292
0,134086
0,006010
1,000000
0,168188
0,152449
1,263344
0,081387
0,516457
1,269738
0,000516
0,005988
0,289589
0,024789
0,453780
0,124632
0,483092
0,004988
0,105505
0,634450
1,000000
0,081053
GLOBUS
(/)
LU1
EURO
13,760300
1,641400
40,339900
1,576168
1,598500
1,605000
23,916800
1,955830
7,457900
166,386000
1,000000
5,945730
6,559570
0,791550
12,286900
1,936270
0,787564
1.936,270000
166,990000
3,453170
40,339900
2,203710
8,023600
2,070000
200,482000
9,478200
1,576168
1,000000
12,337600
Period
2008006
2008006
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J.C. Flowers & Co. LLC
Tables de mortalité : Beaucoup de tables différentes
Private Estate Life - MoSes Application - Mortality tables
Directory
Filename
MK
FK
gbm7680
gbm8085
gbm8590
gbm9095
gbv7680
gbv8085
gbv8590
gbv9095
G82M
G82F
T84M
T84F
C:\moses\NPGWM\2009Q4\tables\In_Force\
C:\moses\NPGWM\2009Q4\tables\In_Force\Mortality Tables.xls
Save Table?
Description
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Y
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Y
Y
Y
Y
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* Belgian MK Mortality tablke (Males)
* Belgian FK Mortality tablke (Females)
* Gbm 7680 Base Females - Ultimate Rates
* Gbm 8085 Base Females
* Gbm 8590 Base Males
* Table Gbm 9095 Base Table
* Gbv 7680 Base Females - Ultimate Rates
* Gbv 8085 Base Females - Ultimate Rates
* Gbv 8590 Base Males - Ultimate Rates
* Table Gbv 9095 Base Table - Ultimate Rates
* Danish Mortality Table G82 Male
* Danish Mortality Table G82 Female
* CUIL Mortality Table T84 Male
* CUIL Mortality Table T84 Female
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Date saved
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J.C. Flowers & Co. LLC