NORWEIGAN SEMINAR IN SWEDEN

4th September 2015

Our vision is to offer insurance solutions that provide customers with security and stability in their daily lives and business operations with such excellence that we are the preferred insurance provider in the Nordic and Baltic markets.

• – Expressed as ”Relax, we’ll help you.”

OUR VISION

SWEDEN

QUICK FACTS - SWEDEN

SWEDEN – STRONG GROWTH, BUT NEW ECONOMIC POLICY CHALLENGES Source: Nordic Outlook Economic Research May 2015 by SEB

SWEDISH EXPORT 2014 BY COUNTRY Total export 1 025 SEK bn

Norway 11%

Germany 10%

Great Britain 7%

Finland 7%

Denmark 7%

US 7% Netherlands

5%

Belgium 4%

France 4%

China 4%

Other 34%

ARE WE ”DOPED”?? Reported growth in sales vs organic growth – Q2 2015 in %

Source: DI 31.8..2015

IF SWEDEN

BREAK-DOWN OF GROSS WRITTEN PREMIUMS

57%

28%

3%

Private Commercial Industrial Baltic

Total gross written premium 2014: EUR 4,6bn

By Business Area

By Country

9

33%

38%

18%

3% 8%

Norway Sweden Finland Baltic Denmark

12%

If Industrial 14% of If Sweden

GWP GROWTH PER COUNTRY

GWP growth excl currency effects 6M-2015 compared to 6M-2014

10

COMBINED RATIO BY COUNTRY

87,0% 82,8%

Q2-2015 Q2-2014

NORWAY SWEDEN

1 1

84,6% 94,1%

Q2-2015 Q2-2014

129,0%

83,8%

Q2-2015 Q2-2014

FINLAND

82,5% 83,6%

Q2-2015 Q2-2014

DENMARK

INDUSTRIAL SWEDEN

We insure large Nordic companies and companies

which are considered to have a significant share of

their operations in the Nordic Region,

• with more than 500 MSEK in turnover, and more

than 500 employees, or

• with more than 1 000 MSEK in turnover regardless

of the number of employees

BUSINESS AREA INDUSTRIAL

GWP (%) BY COUNTRY, TOTAL 570 MEUR

14

Gross written premiums

• EUR 570 million (2014)

Employees

• 335

Clients

• 1,300

Estimated market position in industrial segment

• Denmark 20 %

• Finland 30 %

• Norway 35 %

• Sweden 30 %

A STRONG STRATEGIC PARTNER

Industrial organization

Niclas Ward

Head of BA Industrial

Chief Actuary

Reidun Nymark

Head of Controlling

Marianne Sjöquist

Reinsurance

Anna-Kitty Ekstam

Country Mgr Sweden, SCS Helene Lundborg- Steinsaphir

Country Mgr Norway, SCS

Anne Negård

Marketing &

International

Reija

Laatikainen

Underwriting

Poul Steffensen

Risk

Management

Laura Rastas-

Jansson

Claims

Klaus Vogel

Country Mgr

Finland, SCS

Roland Möller

Country Mgr

Denmark, SCS

Anne Ramsby

If Care Sweden

Frida Lagergren

Executive Assistant

Helle Gulbrandsen

IT

Joakim Eldin

HR

Ylva Skagerlund

BUSINESS AREA INDUSTRIAL SWEDEN

GWP split by LoB

16

Gross written premiums

• MSEK 2 250

Clients

• 500

Employees

• 135

• 30 Underwriters

• 12 Riskengineers

• 8 Account Executives

A STRONG STRATEGIC PARTNER

47%

23%

15%

11%

4%

Property

Casualty

Marine

If Care

Motor

OUR CLIENTS -> LARGE CAP ON NASDAQ STHLM

17

COMPETITORS

SWEDEN - MARKET / COMPETITIVE SITUATION – SUBJECTIVE!

Competitive power in Industrial segment

PREMIUM DEVELOPMENT

21

64,1

66,7

69,9

65,4

68,5

72,4

1,5%

4,0%

4,8% 4,9%

5,6%

0,5%

2,6%

5,6% 5,6%

4,5%

0,00%

1,00%

2,00%

3,00%

4,00%

5,00%

6,00%

7,00%

8,00%

9,00%

10,00%

60,0

62,0

64,0

66,0

68,0

70,0

72,0

74,0

2012 2013 2014 R12 6M2013

R12 6M2014

R12 6M2015

Official market asreported MSEK

Market change (%)

If change (%)

Source: Official statistics published by Svensk Försäkring

TOTAL MARKET (SEK 72,4bn)

2 2

10,0%

1,4%

1,5%

1,5%

2,4%

3,0%

15,5%

16,5%

18,1%

29,9%

0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% 35,0%

Other

Landstingen

Gjensidige

Zurich

Captivebolagen

Moderna

Trygg-Hansa

Folksam

If

LF

Market share By line of business

4,1%

4,4%

11,7%

12,0%

21,1%

21,2%

25,5%

Other

Pet

Motor TPL

Personal Accident

Property & Liability

Homeowners insurance & Houseinsurance

Motor Other

0% 5% 10% 15% 20% 25% 30%

Source: Official statistics published by Svensk Försäkring

MARKET SHARE DEVELOPMENT – TOP 4 ACCOUNT FOR 80,0%

23

18,7

%

28,7

%

16,4

%

15,1

%

21,1

%

18,7

%

28,9

%

15,8

%

15,4

%

21,2

%

18,5

%

29,5

%

16,2

%

15,4

%

20,4

%

18,2

%

29,8

%

16,0

%

16,2

%

19,8

%

18,4

%

30,3

%

15,7

%

16,4

%

19,2

%

18,3

%

30,0

%

15,6

%

16,2

%

19,9

%

18,1%

29,9%

15,5%16,5%

19,9%

If LF Trygg-Hansa Folksam Other

2010 2011 2012 2013 2014 Q2 2014 Q2 2015

MARKET SHARE PROPERTY & LIABILITY (SEK 15,3bn)

2 4

5,4%

3,5%

3,4%

3,8%

6,0%

6,7%

10,5%

11,3%

12,7%

36,7%

0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% 35,0% 40,0%

Other

Moderna

Dina-gruppen

Folksam

Zurich

Landstingen

Captivebolagen

Trygg-Hansa

If

LF

Market share

COMPETITORS UPDATE

Zürich • Manager: David Haak

• Will most probably acquire RSA!

AIG • Manager: Rasmus Nygård

• Due to bad result in Crime Insurance +25% premium increases.

XL Catlin • Manager: Peter Wullimann

• XL acquired Catlin

COMPETITORS UPDATE

RSA Trygg-Hansa • Manager: Patrik Bergnander

• Out for sale – Zürich is bidding

FM Global • Manager: Tomas Fehrling

Tryg Moderna • New manager: Linnéa Ecorcheville

?

COMPETITORS UPDATE

Allianz (AGCS) • Stig Jensen has left • New organization – Nordics (London) & East

(Germany)

ACE • Acquired Chubb

CAPTIVES

TOP TEN DIRECT CAPTIVES IN SWEDEN 44 active Captives in Sweden

Total premium income (2013) Msek 2.278 -> dropped from Msek 2.553 (2010)

Total Technical Result (2013) Msek 241

Source: RF 15/16.14

BROKERMARKET

BROKER MARKET DOMINATED BY FEW Net income 2009 – 2013 (Msek)

Source: RF 11.14

PO SÖDERBERG & PARTNERS AB CEO – Gustaf Rentzhog

• No 1 in Sweden (total market)

Source: allabolag.se/foretagsinfo

WILLIS AB CEO – Johan Forsgård

• Merged with Max Matthiessen and is now No 2 in Sweden (total market) • Moved to new office

Source: allabolag.se/foretagsinfo

MARSH AB CEO – Henrik Gunolf (starts 1st October)

• New CEO Henrik Gunolf former manager of Commercial lines within Trygg-Hansa starts 1st October 2015.

• No 3 in Sweden (total market)

Source: allabolag.se/foretagsinfo

AON SWEDEN AB CEO – Jacob Schlawitz (also Nordic)

• No 4 in Sweden (total market)

Source: allabolag.se/foretagsinfo

JLT Risk Solutions AB CEO – Peder Schauman

• No 6 (total market) in Sweden • Former CEO Henrik Rydén appointed CEO for JLT Northern Europe

Source: allabolag.se/foretagsinfo

LARGE LOSSES SO FAR THIS YEAR

FERRUFORM AB (SCANIA) 2ND FEBRUARY Fire in surface treatement plant/production of frames for vehicles

OCTOWOOD AB (BORGEN TIMBER GROUP) 24TH MAY Fire in production of fence posts/impregnated by creosote and other chemicals

KORTEDALABRANDEN, GÖTEBORG Fire in real estate, 200 people was evacuated. Started in kitchen.

VARFÖR IF INDUSTRI?

Hög Kapacitet & höga egna mandat

30 Underwriters i Sverige

Egen stor skadeorganisation (”Nordic Touch”)

Egen stor jurist avd

Full compliance

Hög kompetens

8 Account Executives i Sverige

International Claim Team