gefest joint-stock insurance company was established in moscow in 1993
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IJSC «GEFEST» - WHO WE ARE . GEFEST joint-stock insurance company was established in Moscow in 1993 The company is widely recognized as a leader in construction insurance, including unique, technically complex and capital-intensive infrastructure construction projects - PowerPoint PPT PresentationTRANSCRIPT
■ GEFEST joint-stock insurance company was established in Moscow in 1993
■ The company is widely recognized as a leader in construction insurance, including unique, technically complex and capital-intensive infrastructure construction projects
■ The company is aggressively developing into a universal B2B insurer offering a wide range of general insurance services for commercial entities
IJSC «GEFEST» - WHO WE ARE
GEFEST IS A MEMBER OF: ■ The International Association of Engineering Insurers
(IMIA) ■ The All-Russia Union of Insurers ■ The Russian Tunnel Association■ The Association of Moscow Investors ■ The Russian Union of Motor Transport Insurers ■ Russian Anti-Terroristic Insurance Pool■ The National Union of Liability Insurers for exploiters of
hazardous industrial objects
■ Branches and representatives: in 15 Russian cities. Insurance protection in 51 regions of Russia
■ People: more than 300 employees work for the company nowadays
■ Financial strength rating by Fitch Ratings on “B+” (positive outlook) on the international scale and “А” on the national scale
■ Financial strength A+ rating (very high reliability) on Expert RA national rating agency
■ Share capital – 750 mln. RUR (about 25 mln. USD)
STRATEGIC APPROACH:■ Development of engineering risks insurance and reinsurance,
creation of system approach to new business lines such as MB, MLOP, LOP, BI, liability
■ Development of new lines of business: insurance of power industry, oil-and-gas, railway and other transport systems
■ Development of comprehensive insurance■ At the same time the Company strives to be highly experienced
universal insurance and reinsurance company
IJSC «GEFEST» - WHO WE ARE
■ 19 years experience in insurance of the most huge and complex construction projects all over Russia
■ Perfect relationship with contractors and state customers of a huge construction projects, financed from federal and regional budget
■ Unique engineering underwriters team with great insurance and on-site work experience■ Invaluable experience in settlement of huge and complex claims. Professional and highly
experienced team of claims managers■ Largest claims paid under insured events occurred on Russian CAR/EAR insurance market ■ Reliable reinsurance protection created not only for capital-intensive construction projects
but also to protect properly all kinds of business written by the company■ Wide range of directions on reinsurance activity: very developed relationship with Russian
companies and great value of international inward and outward business ■ Intensive development of the Company combined with development of a types of insurance
different from CAR/EAR applying the system approach in risks management■ GEFEST is the national leading expert in liability insurance of Self Regulating Organizations
members (SRO insurance) ■ The new sales channel is operating: cooperation with insurance brokers
OUR COMPETITIVE ADVANTAGES
34
2
POSITIONS ON RUSSIAN MARKET
By the volume of written premiums IJSC «GEFEST» keeps the 34th place
By the volume of written premium in CAR/EAR insurance, IJSC «GEFEST» has been strongly keepingone of the leading positions
*information provided by Expert RA (Russia) as at 2011
KEY FINANCIAL FIGURES
Figure, mln USD 2007 2008 2009 2010 2011 2012 (forecast)
Total writen premium 45.7 69.8 50.4 52.3 76.4 82.8
Total earned premium 23.7 43.0 40.8 40.6 47.2 32.5
Net claims paid 5.7 7.1 9.5 11.3 10.9 7,6
Loss ratio,% 24 16 23 28 23 23
2007
2008
2009
2010
2011
2012
(fore
cast)
0102030 24
1623
2823 23
Loss ratio, %
2007 2008 2009 2010 2011 2012 (forecast)
0102030405060708090
45.7
69.8
50.4 52.3
76.482.8
Total writen premium, mln USD
OUR PORTFOLIO STRUCTURE
CAR/EAR67.0%
Motor10.5%
Property9.8%
Liability5.7%
Inward Reinsurance
4.7%
Cargo2.0%
Casualty and Medical
0.3%
*information as for 2011 year results
We are proud of our engineering risks portfolio and effective cooperation with our clients. JSIC «GEFEST» provides reliable insurance and reinsurance protection for the most
famous and complex construction projects in Russia
CAR/EAR INSURANCE
CAR/EAR PORTFOLIO
Tunnels23%
Bridges27%
Roads21%
Buildings13%
Communications8%
Power industry6% Hydrotechnical objects
1%
Airports, runways1%
*info as at October 2012
Project LocationSum
Insured, USD mln
PML, % from SI
Construction of Sochi central motor highway «Kurortniy prospect alternate route», 2nd and 3rd stages Sochi 1 900 9%
Construction of a segment of Doubler (parallel access road) to Kurortniy Prospekt M-27 Dzhubga-Sochi Federal Highway Sochi 703 30%
Construction of the federal highway M-27 Djubga-Sochi to the border with Geoorgia on section Adler-Veseloye Sochi 400 28%
Building of the southern site of Western High-speed Diameter from traffic interchange on crossing with the Ring highway around St. Petersburg to a traffic interchange on Kanonersky island
St. Petersburg 382 20%
Construction of highway from mountain resort «Alpica-Sevice» to finish area of ski resort «Roza-Hutor». Arrangement of approaches to toboggan route, freestyle center, snowboard park and Mountain Olympic village
Sochi 358 27%
ENGINEERING ACCOUNT - LARGEST CAR PROJECTS
Date of Loss Loss Description Class of
InsSum
Insured, USD mln
Loss amount, USD mln
14.12.2009 Sochi cargo port construction damage by severe storm CAR 105,7 17,0
10.07.2003 Collapse to the tunnel in construction with the possible damage to the underground services CAR 272,9 3,5
06.02.2008 Destruction of temporary lining and soilflow in callote part of tunnel during temporary lining partition CAR 134,2 2,1
02.01.2009 Destruction of three construction cranes due to a construction site fire CPM 2,4 1,8
19.10.2010Due to soil subsidence (deformation) on approach embankment the traffic interchange was damaged and deformated
CAR 191,5 1,1
ENGINEERING BUSINESS – LARGEST CLAIMS
CAR/EAR treaty (with indirect section)Type: excess of loss reinsurance Base: losses occurring during 1 calendar year w.e.f. 01/01/2012Total capacity: 100 mln USD on SI/PML basisStructure: 1st Layer: 3.3 mln USD in excess of 700 000 USD2nd Layer: 6 mln USD in excess of 4 mln USD3rd Layer: 90 mln USD in excess of 10 mln USDLeader: Swiss Re.Placed via brokers: Challenge Group Ink and RIFAMS IB
Property treaty (with indirect section)Type: excess of loss reinsurance Base: losses occurring during 1 calendar year w.e.f. 01/05/2012Total capacity: 10 mln USD SI/PML/Loss limit basisStructure: 1st layer: 3 mln USD in excess of 300 000 USD2nd layer: 6.7 mln USD in excess of 3.3 mln USD
OUR TREATIES
Motor hull treatyType: excess of loss reinsuranceBase: risk attaching with effect from 01/04/2012Total capacity: 1.33 mln USDStructure: 1st layer: 280 000 USD in excess of 50 000 USD
2nd layer: 1.0 mln USD in excess of 330 000 USD
Cargo treatyType: excess of loss reinsurance, commencement date
01.07.2012Total capacity: 3.33 mln USDReinsured`s self retention: 100 000 USD
Self-regulated organizations liability treatyType: excess of loss reinsurance, commencement date
01.01.2012 Total capacity: 3.33 mln USDReinsured`s self retention: 165 000 USD
OUR TREATIES
Other
Cargo
CPM
Personal accident
Liability
Motor hull
PropertyCAR/EAR
2011. Total written premium – 3,6 mlm USD
Cargo
OtherCPM Personal accident
Motor hull
Liability Liability of Ex-ploiters of
hazardous Ob-jects
CAR/EAR
Property
1st half of 2012. Total written premium – 1,5 mln USD
INWARD REINSURANCE. FAC + TREATIES
Vladimir Chubukov
The First deputy General Director, in charge of reinsurance
Grigory VinogradovHead of Reinsurance department
Elena Orlova
Deputy Headof Reinsurance department
Denis Nikolaicev
Chief underwriter of Reinsurance department
Treaties
Engineering risks
REINSURANCE TEAM
