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AIB presentation 14 October 2015
Background
2002
31 Dec 4 Sep
Ansvar
‘notice’
1 Dec
2010 2011 2012+
ACIB forms
22 Feb
Quake! Quake!
Ansvar
quits EOB
Ansvar
appointed
Alternative
‘slip’ filed
9.30am
Period
renegotiating
claims
Relationship
issues emerge
Placement management
Then Current
Anglicans & Methodists 100% London placement
Small denominations - a range of placements - wherever they could find it
Anglican, Methodist & Baptist 50% London / 50% NZ Small denominations 100% NZ placement with reduced deductibles
Claims management
• ACIB campaigns have raised risk awareness (particularly arson) and risk reduction.
• Claims (London placement) to date have only been from Baptists (largely flood related).
• Baptists have now raised their retention to $250K (was $100K) to reduce likelihood of claims.
Portfolio Exposure (31 Dec 2014)
Total ($M) London ($M)
All Risks
$3,200 $1,400
Catastrophe
$2,900 $1,250
Premium
$4.8 $2.1
Premium (2014)
$-
$200,000.00
$400,000.00
$600,000.00
$800,000.00
$1,000,000.00
$1,200,000.00
$1,400,000.00
$1,600,000.00
$1,800,000.00
Anglican Baptist Methodist Other
Premium (total)
Premium (London)
$-
$50,000.00
$100,000.00
$150,000.00
$200,000.00
$250,000.00
$300,000.00
$350,000.00
Claims (2014)
-
500,000
1,000,000
1,500,000
2,000,000
2,500,000
Baptist Methodist Anglican Total
2014 Premium
2014 Claim
Present activities
• NZ placed business: Negotiating an MGA with QBE
• London placement: Our objective is to extend for 4 months (terms to be negotiated by our broker)
What is an MGA? – usual placement
Placement though broker
AIB
Insu
red
Bro
ker
Insu
rer
Phase
Diocese, Trust, School
AIB
Broker
Insurer
Insured
AIB
Insurer
Insured
PREMIUMSCLAIMS
Settlement on Smaller Claims
Larger Claim
Settlement
What is an MGA? – MGA placement Placement though MGA
AIB
Insu
red
Bro
ker
Insu
rer
MG
A
Phase
Diocese, Trust, School
AIB
Insurer
Insured
AIB
Insured
PREMIUMSCLAIMS
Settlement on Smaller Claims
Larger Claim
MGA MGA
Settlement
PROFIT SHARE
PROFIT SHARE
What is an MGA? – Enhanced MGA Placement though MGA
AIB
Insu
red
Bro
ker
Insu
rer
MG
A
Phase
Diocese, Trust, School
AIB
Insurer
Insured
AIB
Insured
PREMIUMS
CLAIMS
Settlement on Smaller Claims
Larger Claim
MGA MGA
Settlement
PROFIT SHARE
PROFIT SHARE
Charities
Broker
PREMIUMSCLAIMS
Future planning
• May 2016 – complete MGA with Lloyds – London & NZ placements
– MGA available to other NZ charities
• Aspirational 2017 goal: – Anglican & Methodist (& possibly others) will have
matured arrangements to a point where a $NZ 1M deductible is applied to placement