1 presentation ukrainian agricultural insurance pool uaip date of foundation 12/05/2003
TRANSCRIPT
1
Presentation
Ukrainian Agricultural
Insurance Pool
UAIPdate of foundation
12/05/2003
2
IC ASKA – Leader of UAIPMembers of Ukrainian Agro Insurance Pool
- IC «ASKO- Donbass North»
- IC «Stroypolicy»
- IC «Investservice»
- IC «Providna»
- IC «Illichivs’ke»
- IC «Ukrainian Fire-insurance company»
- IC «PROSTO- insurance»
Members of UAIP
COOPERATIONThe Pool organized for proposition at the Ukrainian market of the quality agro insurance product according to the Law of Agro production market support and risks reinsurance among Pool members and at Western reinsurance market.
According to Agreement the Pool members propose insurance products of the plants and Livestock insurance to Insured, developed using international underqriting Methodics and statistical information of the Ukrainian Statistical Committee
The main goal of the Pool creating is providing of a high quality insurance and reinsurance for agro producers.
Work basis: cooperation at the parity and partnership basis, interests support of each Pool member, a single underwriting policy, adjusted conditions of the risks seeding and a single Loss adjustment requirements
For the goal achievement the Pool members conclude the contracts of Obligatory, Quota Share proportional reinsurance, contracts with independent loss adjustment procedure, exchange with the existents information, consulting and seminar activity.
4
Products of the UAIPAt the present moment UAIP developed and uses following agro
insurance products
- Complex insurance of agro crops in case of their total or partial destruction at winter period
- Complex insurance of agro crops in case of their total destruction at winter period
- Complex insurance of agro crops in case of their total destruction at winter period and due to spring frosts
- Bank product (mortgage)
- Hail and Fire insurance
- MPCI
- Index Yield
- Livestock insurance
5
Underwriting
UAIP cooperate with independent company
AgroRisk Ukraine LTDAgroRisk Ukraine
- Accept requests- questionnaires on insurance (single form for all Pool members, approved by reinsurers),
- Survey of agro producers fields, which conclude the insurance contracts with the Pool members
- Risk monitoring (following over requests and weather conditions, recommendations on monolits selection, loss adjustment surveys)
- Surveys destructed fields and made the Loss adjustment report
- Adjust the insurance products with Reinsurers
- Provide and adjust the Rates for insurance
Agrorisk is the main Underwriter for Pool members
POOL MEETING
UAIP provides the meeting of the Pool members not less than 4 times per year.
In case of necessity each Pool member can ask about the meeting.
Questions of the meetings:
- Cooperation questions (including contract arrangement, underwriting conditions)
- The conditions of insurance programs (improvement, requirements concerning new products) due to experience of Pool members
- Work of the Pool for the next Underwriting period
- Reinsurance programs, including insurance rates and methodology of their calculation
- Concurrent activity , general information about Agro insurance market
- Questions concerning the membership
- Principles of risks accepting on Facultative basis
- Contractor cooperation with AgroRisk Ukraine LTD
- Sales strategy and work coordination with agro producers
CERTIFICATE
RETENTION
The members of Ukrainian Agricultural Insurance Pool -residents
retained 22,5%
of liability on each Risk.
77,5% seeded to Reinsurers according to Obligatory Contract (Quota Share)
WESTERN REINSURANCE
The share of Reinsurers made 77,5%
of liability on each risk insured,
and distributed as follows
SWISS RE 45% (Leader Reinsurer)
HANNOVER RE 27,5%
POLISH RE 5%
The Limits of Liability
The Limits of Liability on agregate insurance for Pool members made
No limit on Farm
USD 10 000 000 by Oblast
USD 5 000 000 by Rayon
No limit on UkraineLimits are flexible and there is a possibility of their increasing after adjustment with Leading
Reinsurer
Finance cooperation
The cooperation of the members of UAIP, residents and reinsurers
regulated with the terms and conditions of the Treaty.
Documents:
-Information Bordereaux
- Premium Bordereaux
-Claim Bordereaux
Compensation payment
IC ASKA, as a Pool leader provides the compensation payments in terms and conditions, stipulated with the Treaty after
Receiving of compensations from Reinsurers,
Except for net – liability of IC ASKA,
which is payed out during 5 days at confirmation of event
as Insurance event.
INSURANCE PREMIUMS
2005-06 2006-07 2007
The Total Insurance Premiums for 2005, 2006, 2007, 2008, collected by UAIP:
- 2005-06 – UAH 3 479 887,50
- 2006-07 - UAH 2 318 223,99
- 2007-08 - UAH 7 972 321,11,
Number of Contracts - 508
0
1000
2000
3000
4000
5000
6000
7000
8000
9000
3479.89
2318.2
7972.3
2005-062006-072007-08
период по сезонам
Соб
рано
стр
ахов
ых
прем
ий,
тыс.
грн
.
Thousand UAH
2005-06 2006-07 2007-08
Донецкая 38,74%Луганская 10,49%Харьковская 10,22%Тернопольская 8,77%Сумская 8,0%Николаевская 4,62%Львовская 3,9% Херсонская 3,62%Полтавская 3,19%Хмельницкая 3,16% Черновецкая 2,77%Киевская 1,36%Житомирская 0,5%Одесская 0,33%Запорожская 0,13%Кировоградская 0,11%Волынская 0,06% Винницкая 0,02%
Mykolaivska, 4,62%
L’vivs’ka 3,9%
Khersons’ka, 3,62%
Poltavs’ka, 3,19%Khmel’nyts’ka 3,16%
Chernivets’ka, 2,77%
Kyivs’ka, 1,36%
Ternopil’s’ka, 8,77%
Sums’ka, 8%
Lugans’ka, 10,49%
Kharkivs’ka, 10,22%
Donets’ka, 38,74%
2005-2006, the Structure of collected by UAIP Brutto premiums by oblasts UAH 3 479 887,50.
Insurance premiums by Oblasts
2006-2007, структура собранных УССП страховых платежей, брутто по областям Украины, всего 2 318 223,99 грн.
Донецкая-29,07%Сумская - 16,01%Запорожская - 12,68Тернопольская - 9,66%Николаевская - 8,2%Херсонская - 7,79%Одесская - 6,37%Закарпатская - 3,02% Луганская - 1,45%Днепропетровская - 1,3%Черновецкая - 1,15%Харьковская - 1,13%Винницкая - 0,89%Черкасская - 0,66%Житомирская - 0,24% Киевская -0,21%Львовская - 0,08%Ровенская - 0,04%Кировоградская - 0,04%
Insurance premiums by Oblasts
Zaporiz’ka, 12,68%
Sums’ka, 16,01%
Donets’ka , 29,5%
Mykolaivs’ka, 8,2%
Ternopil’s’ka, 9,66%
Khersons’ka, 7,79%
Odess’ka, 6,37%
Zakarpats’ka, 3,02%
Lugans’ka, 1,45%
Dnipropetrovs’ka, 1,3%
2007-2008, структура собранных УССП страховых платежей, брутто по областям Украины, всего 7 972 321,11 грн.
Донецкая-16,3%Тернопольская - 11,71%Суммская - 11,67%Харьковская - 10,98%Одесская - 10,33% Луганская - 6,36%АРК - 6,02%Запорожская - 5,89%Ивано-Франковская - 4,11%Черкасская - 3,44%Винницкая - 3,33%Львовская - 2,53%Ровенская - 1,95%Кировоградская - 1,34%Волынская - 1,01%Черниговская - 0,96%Житомирская - 0,83%Полтавская - 0,81%Черновецкая - 0,3%Херсонская - 0,14%
Donets’ka , 16,3%
Ternopil’s’ka, 11,71%
Sums’ka, 11,67%
Kharkivs’ka, 10,98%
Odess’ka, 10,33%Lugans’ka, 6,36%
Crimea, 6,02%Ivano-Frankivs’ka, 4,11%
Cherkass’ka, 3,44%
Vinnits’ka, 3,33%
L’vivs’ka, 2,53%
According to results of 2005, 2006, 2007, 2008 the insured acreage and livestock, insured by UAIP made :
- period 2005-06 - 34 608,20 ha
- period 2006-07 - 58 156,02 ha
- period 2007-08:
246 115,88 ha
218 heads
Acreage insured
2005-06 2006-07 2007
Тысяч га
0
50
100
150
200
250
300
35
58
246
2005-06
2006-07
2007-08
период по годам
Пл
ощад
и, т
ыся
ч ге
ктар
Тысяч га
2005-06 2006-07 2007-08
Indemnities
2005-2006
3150
3200
3250
3300
3350
3400
3450
35002005-2006 3479.89
2005-2006 3273.93
ПРЕМИИ
УБЫТКИ
2006-2007
0
500
1000
1500
2000
2500 2006-2007 2318.2
2006-2007 1020.7
ПРЕМИИ
УБЫТКИ
According to results of 2005,2006,2007,2008
the indemnities of UAIP made:
Premiums 2005-2006 – UAH 3 479 887,50 2006-2007 - UAH 2 318 223,99
Losses - UAH 3 273 930,00 UAH 1 020 719,47
Loss Ratio 94,08% 44,03%
2007-2008
0
1000
2000
3000
4000
5000
6000
7000
8000
2007-2008 7972.3
2007-2008 439.4
ПРЕМИИ
УБЫТКИ
Premiums 2007-2008 – UAH 7 972 321,11 Payed claims - UAH 439 453,88
Loss Ratio 5,5%
Previous data(final sums on summer risks premiums are not available )
Risks Accepting
IC ASKA and all the Pool members are
ready to
Cooperation and accepting risks
On Facultative reinsurance, follow the policy of UAIP proposing quality and reliable reinsurance among Pool members (not more than 22,5%),
professional consults and underwriting.