AGCS - Allianz Global Corporate & Specialty

Allianz Global Corporate & Specialty
Your Partner in
Financial Lines
3 rd Allianz Financial Lines Conference
in Russia
Professional Indemnity Insurance
Karolina Vogelpohl
Regional Manager Financial Lines
Nordic & CEE
09 October 2012

Table of
contents
3 rd Allianz Financial Lines Conference in Russia
1 Allianz SE – Introduction
2 Allianz Global Corporate & Specialty AG (AGCS)
3 Financial Lines
2

Allianz
An Introduction
Allianz Group is one of the world’s leading insurers and financial
services providers
� Founded in 1890 in Berlin, Allianz companies now extend to over 70
countries with approximately 142,000 employees and 78 million customers
� Insurer financial strength rating of AA (‘Very Strong’) from S&P and A+
(‘Superior’) from A.M. Best
� International network of strong brands,
with first-class products in the fields of:
1. Property and casualty insurance
2. Life and health insurance
3. Asset management
For more information visit www.allianz.com.
3 rd Allianz Financial Lines Conference in Russia
3

Table of
contents
3 rd Allianz Financial Lines Conference in Russia
1 Allianz SE – Introduction
2 Allianz Global Corporate & Specialty AG (AGCS)
3 Financial Lines
4

Allianz Global Corporate & Specialty
An overview
We are one of the few specialist corporate
insurers with a genuine global market
presence who can provide “one carrier”
insurance solutions across the whole
spectrum of corporate and specialty risks.
� Diversified product portfolio
� Wide range of complementary services,
including specialist non-traditional risk transfer
solutions provided by our subsidiary ART
� Financial strength: €4.9 billion GWP (2011)
� Global reach: integrated in the Allianz network
of more than 150 countries worldwide
� Extensive international experience: manages
some 1,600 International Insurance Programs
� More than 3,400 dedicated employees
3 rd Allianz Financial Lines Conference in Russia
Product lines
Aviation Marine
Engineering Energy
Property Liability
Financial Lines Risk Consulting
Allianz Risk Transfer
AGCS office locations:
Australia · Austria · Belgium · Brazil · Canada
· Denmark · Dubai · Finland · France ·
Germany · Hong Kong · Ireland · Italy · Japan
· Mexico · New Zealand · Norway · Portugal ·
Russia · Singapore · South Africa · Spain ·
Sweden · Switzerland · The Netherlands ·
United Kingdom · United States
5

AGCS ratings
Very strong financial strength ratings confirmed
AGCS remains one of the highest rated global P&C insurers
Allianz Global Corporate &
Specialty (AGCS) company name
AGCS AG, AGCS (France), AGCS
North America*
Allianz Fire & Marine Insurance
(Japan) Ltd.
3 rd Allianz Financial Lines Conference in Russia
Standard & Poor’s A.M. Best
FSR Outlook (Jan 27, 2012) FSR Outlook (June 6, 2012)
AA Negative A+ Stable
AA- No change (negative) n/a n/a
Allianz Risk Transfer AG AA- Negative A Stable
*AGCS NA includes Allianz Global Risks US Insurance Company, Allianz Underwriters Insurance Company, AGCS Marine Insurance Company
S&P comments (rating report Jan 27, 2012):
‘We are affirming the (…) insurer financial strength ratings
on Allianz SE and its related core entities (..) on the basis
of the group's very strong earnings and business diversity.’
‘The current ratings remain supported by the group’s very
strong competitive position, reflecting very strong
segmental and geographic diversity in revenues and
profits.’
A.M. Best comments (June 6, 2012):
‘Allianz SE’s risk-adjusted capitalization (both on a
stressed and standard basis) remained very strong at year-
end 2011, despite significant impairments, and in this
context A.M. Best deems the organization’s exposures
manageable.’
‘In addition, the group maintains a very strong business
profile and benefits from a very high degree of
diversification, both in terms of business and markets.’
6

The Allianz network
Combining one of the largest own-office networks with carefully
selected partners, Allianz Global Corporate & Specialty provides a truly
global reach.
For details on our global network please visit
www.agcs.allianz.com/global-offices
3 rd Allianz Financial Lines Conference in Russia
Covering more
than 150
countries
worldwide, our
network ensures
that clients have
access to
Allianz services
wherever and
whenever they
need it.
7

Claims Services
Experts beyond underwriting
We field a team of claims specialists with
many years of hands-on expertise of all types
of claims, across all product lines.
� Claims handling is the 'acid test' of our
services, and our clients and brokers should
expect nothing less than a first class response
from AGCS.
� Our aim is always to deliver a prompt and
consistently fair approach to all our clients
and brokers.
� We have an established reputation for claims
handling on a worldwide basis for clients with
international exposures, with a global network
of contacts and local support.
� Claims service is a core topic in our broker
account meetings – and we respond quickly
to broker feedback.
3 rd Allianz Financial Lines Conference in Russia
With Allianz Global
Corporate &
Specialty, claims
handling is always
a key focus of our
service - never an
after-thought.
8

Table of
contents
3 rd Allianz Financial Lines Conference in Russia
1 Allianz SE – Introduction
2 Allianz Global Corporate & Specialty AG (AGCS)
3 Financial Lines
9

Expanding Financial Lines business in Russia
� Build on leading position in Financial
Lines
� Launch wide range of Financial Lines
products (D&O, POSI, PI etc)
� Build on strong position with Global
Brokers
� Strong local team supported via AGCS
expertise
3 rd Allianz Financial Lines Conference in Russia
10

What is Financial Lines?
Financial Lines is a general term summarizing various
specialty insurance products covering pure financial
losses (as opposed to bodily injuries or property damages) including:
- Directors and Officers Liability (D&O)
- Employment Practices Liability (EPLI) wrongful employment practices
- Pension Trust Liability (PTL) breach of fiduciary duties
- Prospectus Liability: ‘POSI’ (Public Offering of Securities Insurance)
misrepresentation and misleading statements in a prospectus
(Public Offering)
- Professional Indemnity / Errors and Omissions (PI / E&O)
breach of professional duties
3 rd Allianz Financial Lines Conference in Russia
11

Allianz Financial Lines
Financial Lines Product Overview & Appetite
Commercial Lines
� Directors and Officers
Liability (D&O)
� Pension Trust Liability
(PTL)
� Employment Practices
Liability (EPLI)
� Prospectus Liability (POSI)
3 rd Allianz Financial Lines Conference in Russia
Financial Institutions
� Directors and Officers
Liability (D&O)
� Pension Trust Liability (PTL)
� Financial Institutions
Professional Indemnity
(FIPI)
� Prospectus Liability (POSI)
� Investment Managers
Insurance (IMI)
� Crime Insurance
Commercial Prof. Indemnity
� Three pillars:
- Construction
(architects, design &
construct, engineers)
- Traditional
(accountants, solicitors,
insurance brokers, surveyors)
- Emerging
(management consultants,
media, technology, other
miscellaneous)
12

Allianz value proposition in FL in CEEMA
AGCS Local OEs
- market leading capacity
- global FL strategy and portfolio steering
- expert UW knowledge
- claims handling expertise
- Product Development
- strong rating
3 rd Allianz Financial Lines Conference in Russia
AZ CEEMA
Client/ Broker
- strategic development and coordination
in CEEMA
- business development and steering
across LoBs in CEEMA
- deep understanding of local market
peculiarities and needs
- understanding of local legal aspects
- policy wordings in line with local jurisdiction
- UW information in local langue
- local claims services
solution: Global approach and capacity adapted to local market peculiarities & needs
13

Allianz Financial Lines strengths
- Market leading capacity
- Strong capital base and ratings (AGCS reinsured)
- Global portfolio steering
- World wide expertise of FL team
- Underwriting teams locally
- Wide range of FL products adapted to local Laws and needs
- Strong Claims handling capabilities
- Ability to provide IIP
3 rd Allianz Financial Lines Conference in Russia
solution: Global approach and capacity adapted to local market peculiarities & needs
14

Thank you for your
attention