company presentation€¦ · 5 infrassure company presentation infrassure focus on selected risks...
TRANSCRIPT
Company Presentation
Infrassure Company Presentation2
Outline
• Underwriter principles
• Portfolio diversification
• Reference projects
Solid risk protection
Business focus • Lines of business
• Industries
• Geographical markets
• Construction and operation
Infrassure • Group structure and milestones
• Value proposition
• Focus and sectors
• Financial highlights
• Engineering experience
• Customer service
Infrassure Company Presentation3
Group structure
Milestones
Infrassure completes five years of independent operation. Infrassure issues a perpetual EURO 15 million note in November 2007.
Infrassure is approved as a surplus lines insurer in the United States of America.
Infrassure obtains authorization to operate as an occasional reinsurer in Brazil.
Infrassure Holding AG
Infrassure Ltd.Switzerland
Infrassure Ltd.Fürstentum Liechtenstein
Infrassure obtains a Financial Strength Rating of A- by A. M. Best.
Swiss Insurance Investors Group establishes a sister insurance company in Liechtenstein to gain direct access to the markets of the European Union.
The company approaches new capital resources by participating with a 30 year EUR 16m note in a EUR 300m CDO (Collateralized Debt Obligation).
Swiss Insurance Investors Group acquires 100% of the shares of Alstom Power.
ABB Power Insurance is founded as a captive insurance company to provide insurance for gas turbine and combined cycle power plants.
1996 2003 2004 2005 2006 2007 2008 2010
Infrassure Company Presentation4
Value Proposition
Solid Risk Protection
Risk selection
Engineering and insurance expertise
Focus &discipline
Infrassure provides reliable risk protection for infrastructure and industrial projects and installations.
Our clients profit from solid risk protection because of:
• Infrassure’s clear business focus on technical lines of insurance,
• Infrassure’s combination of extensive insurance and engineering expertise.
Infrassure Company Presentation5
Infrassure focus on selected risks within four sectors
Oil, Gas & Petrochemicals
Power
Civil Construction, Metals & Mining
Process, Electronics & Telecommunication
• Entire spectrum of upstream and downstream activities from oil and gas networks to global energy packages
• Well construction, encompassing COW, drilling rigs and subsea completions
• All major power generation and transmission technologies
• Gas turbine, steam turbine, hydroelectric
• Nuclear, Solar, Wind
• Major metal producers and mining companies throughout the world
• Global infrastructure projects such as tunnels, bridges, harbors, motorways, airports and railways
• Major chemical companies
• Several large scale pulp & paper producers
• Leading global semiconductor and telecom providers and the pharmaceutical industry
Infrassure Company Presentation6
Financial highlights
Net premium written Assets & Liabilities
Total net claims paidEmployees
CHF mio CHF mio
CHF mioat Dec.
50
100
150
200
0
2009 2010 2011
150
0
300
450
600
Assets
2009 2010 2011
Liabilities EQ & Surplus
0
50
100
2009 2010 2011
0
50
100
2009 2010 2011
84
182.0195.1
163.2
595.5 583.4 594.3
398.2 383.1 409.1
197.4 200.3 185.2
93105
84.4 77.0
94.3
Infrassure Company Presentation7
Underwriters have predominantly obtained academic and professional credentials in Chemical, Civil, Electrical and Mechanical engineering and other relevant technical disciplines.
The underwriting team members have cooperated in a substantial number of engineering projects, for example:
• Tunnel and risk projects
• Oil & gas projects in various geographical areas
• Commissioning, operation & maintenance of large scale power projects
• Deployment and support of wide-area networks
Years of engineering experience
Engineering faculties
prior to joining Infrassure
2-5
5-10
10-15
15-20
> 20
Mechanical
Chemical
Electrical
Civil
Other
32%
27%
11%
15% 15%
13%
19%
25%
13%
31%
Our underwriters
Infrassure Company Presentation8
Customer service
Infrassure’s business procedure is built on a sequence of interdependent steps. The underwriting and claims handling is managed by an Underwriting Claims Manager and Director (UCM/UCD). They are the point of contact between Infrassure and the client.
This provides the UCM and UCD with indepth knowledge of the entire client relationship as well as a unique opportunity to enhance the underwriting knowledge with experience gained from the actual claims handling process.
Client UCM& UCD
Underwritinganalysis
Policyadministration
Clientrelationship Insurance
solutionstructuring
Claimshandling Risk
surveys
Infrassure business procedure
Business focus
Infrassure Company Presentation10
Lines of Business (I)
Meet customers needs throughout the entire life cycle of:
• Infrastructure and industry projects
• Operational business
Design,Engineering,Manufacturing
Loading,Transportation
Unloading,Storage
Construction,Erection
Testing,Commissioning
Construction All Risks
Erection All Risks
Third Party Liability
Delay in Start-Up
Marine Cargo
Marine Delay in Start-Up
InfrassureInsurancePolicies
Infrassure Company Presentation11
Lines of Business (II)
Testing,Commissioning
CommercialOperation
Industrial All Risks (Property and Machinery Breakdown & Business Interruption)
Marine Energy Package (COW)
InfrassureInsurancePolicies
PAC
Meet customers needs throughout the entire life cycle of:
• infrastructure and industry projects
• operational business
Infrassure Company Presentation12
Industries
Infrassure provides services for a wide range of industries that we group into four sectors:
Net premium written in millions CHF
Civil Construction,
Metals & Mining
Oil, Gas &
Petrochemicals
Process, Electronics
& Telecommunication
Power
0
50
100
150
200
201120102009
31.9
163.1
57.5
35.0
38.7
(20%)
(35%)
(21%)
(24%)
35.2
195.1
76.1
36.9
46.9
(18%)
(39%)
(19%)
(24%)
34.0
182.0
49.1
42.6
56.3
(19%)
(27%)
(23%)
(31%)
Infrassure Company Presentation13
Geographical Markets
Infrassure serves its chosen industries worldwide:
0
50
100
150
200
201120102009
Africa, Middle East
Asia, Australia
Central &
South America
Europe
North America
Net premium written in millions CHF
40.9
163.1
32.7
30.0
10.6
(25%)
48.8 (30%)
(20%)
(18%)
(7%)42.2
195.1
51.3
36.3
13.8
(22%)
51.5 (26%)
(26%)
(19%)
(7%)
32.2
182.0
43.9
32.0
23.1
(18%)
50.8 (28%)
(24%)
(17%)
(13%)
Infrassure Company Presentation14
Construction and Operation
Infrassure provides insurance policies for projects in both the construction and operation phases:
0
50
100
150
200
201120102009
Net premium written in millions CHF
115.5
163.1
47.6
(71%)
(29%)
135.6
182.0
46.4
(74%)
(26%)
133.5
195.1
61.6
(68%)
(32%)
Construction
Operation
Solid risk protection
Infrassure Company Presentation16
The key principles in our underwriting
Expertise
• Infrassure’s underwriting team members have all obtained academic and professional credentials.
•Managing both underwriting and claims provide the individual underwriters with a complete end to end view of the risks.
Risk analysis
•Risk assessment / selection has the highest priority in underwriting.
•Risk Analysis is a detailed process covering all aspects of the analysis of risks, covers, structure, pricing and capacity.
•Nat Cat and monitoring of capacity allocation.•Attention to detail and agreed underwriting
strategy for each new and renewed risk.
Training & control
•Highly technical training and underwriter support.
• Intensive and comprehensive risk management controls and audit.
•Legal support.
Knowledge basedunderwriting
Expertise
Risk analysisTraining & control
Infrassure Company Presentation17
Portfolio diversification
Civil Construction, Metals & Mining
Oil, Gas & Petrochemicals
Power
Process, Electronics & Telecommunication
Infrassure serves clients in over 100 countries and four groups of industries, thus creating a highly diversified policy portfolio.
Infrassure Company Presentation18
Reference projects
Nord Stream
Forth Bridge replacement
Carbon Fiber
Next Generation Clean Energy Center, Cape Canaveral.
We only promise what we can deliver –
and we deliver what we promise.
Infrassure Ltd.Uetlibergstrasse 134 AP.O. Box 5089CH-8045 ZürichSwitzerlandwww.infrassure.com