the insurance and reinsurance

1
the insurance and reinsurance

• markets of the Caucasus

in the context of todays
economic realities

• Giles Ward, Regional President,
• Eurasia and Africa, ACE Group
• July 2015

2
ACEs global reach

• Operations in 54 countries
• Global network spanning 200 countries and
  territories in total
• Eurasia and Africa
• Employees 270
• Offices 11
• Europe
• Employees 2,500
• Offices 45
• North America
• Employees 10,000
• Offices 170
• Asia
• Employees 47,000
• Offices 130
• Latin America
• Employees 3,600
• Offices 110

3
Serving Eurasia and Africafrom 10 strategic
locations
Geographic sources of premium (2014)
4
Insurance penetration rates ()
Source Xprimm (life and non-life) 2014 AXCO
data
5
Property

• Property / Catastrophe
• Energy
• Construction
• Terrorism political risks

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Casualty

• General liability
• Employers liability
• Directors and Officers liability
• Professional indemnity

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Three key goals

• Improve risk awareness
• Move perception of risk management at Board level
  from cost burden to financial and strategic
  enabler
• Better risk management processes/ safety
  standards
• Deliver increased professionalism
• A risk-based approach to capital at company/
  market level
• Self sufficiency shift from price takers to
  price makers
• Focus on underwriting discipline
• Increased market competition (incl. from Asia and
  ME)
• Low interest rates in West fuelling capital flows
  and reducing income opportunity from fixed assets
• The long-term trend for catastrophe losses is
  upwards

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• www.acegroup.com/eu