Company Presentation · Company Presentation. 2 Outline • Solid financials • Portfolio...
Transcript of Company Presentation · Company Presentation. 2 Outline • Solid financials • Portfolio...
Company Presentation
2
Outline
• Solid financials
• Portfolio diversification
Solid risk protection
Business focus • Lines of business
• Industries
• Geographical markets
• Construction and operation
Insurance and
engineering expertise• Highlights
• Engineering expertise
• Underwriting and claims handling
• Network
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Infrassure provides reliable risk protection for infrastructure and industrial projects and installations.
Our clients profit from solid risk protection, due to
• Infrassure’s clear business focus on technical lines of insurance,
• Infrassure’s combination of extensive insurance and engineering expertise.
Business Focus
ExpertiseSolid Risk Protection
Value Proposition
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Milestones
2010 Infrassure obtains authorization to operate as an occasional reinsurer in Brazil
2008 Infrassure is approved as a surplus lines insurer in the United States of America
2007 Infrassure completes five years of independent operation. Infrassure issues a perpetual EURO 15 million note in November 2007.
2006 Infrassure obtains a Financial Strength Rating of A- by A. M. Best.
2005 Infrassure moves its principal office from Baden to Zurich. The new premises accommodate a substantially increased number of staff members, who manage the global portfolio of construction and operation phase insurance policies. The company approaches new capital resources by participating with a 30 year EUR 16m note in a EUR 300m CDO (Collateralized Debt Obligation).
2004 Swiss Insurance Investors Group establishes a sister insurance company in Liechtenstein to gain direct access to the markets of the European Union.
2003 Swiss Insurance Investors Group acquires 100% of the shares of Alstom Power Insurance from its mother company, establishes it as an independent insurance corporation and has the company name changed to Infrassure. The domicile of the company remains in Baden, Switzerland.
2002 The company is renamed as Alstom Power Insurance – following the merger of ABB’s and Alstom’s power generation activities in 2001 – and has its legal seat transferred from Guernsey to Baden, Switzerland. Alstom Power Insurance is licensed as a non-life insurance and reinsurance company.
1996 ABB Power Insurance is founded as a captive insurance company to provide insurance for gas turbine and combined cycle power plants.
Business Focus
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Lines of Business (I)
Infrassure meets customers’ needs throughout the entire life cycle of infrastructure and industry projects and installations.
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
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Lines of Business (II)
Infrassure meets customers’ needs throughout the entire life cycle of infrastructure and industry projects and installations.
Testing,Commissioning
CommercialOperation
Industrial All Risks (Property and Machinery Breakdown)
Industrial All Risks (Business Interruption)
InfrassureInsurancePolicies
PAC
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Industries
Infrassure provides services for a wide range of industries that we group into four categories.
Net premium written in millions CHF
Civil Construction, Metals & Mining
Oil, Gas & Petrochemicals
Process, Electronics & Telecommunication
Power
0
50
100
150
200
201020092008
49.6
189.4
53.9
43.4
42.5
(26%)
(29%)
(23%)
(22%)
35.2
195.1
76.1
36.9
46.9
(18%)
(39%)
(19%)
(24%)
34.0
182.1
49.2
42.6
56.3
(19%)
(27%)
(23%)
(31%)
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Geographical Markets
Infrassure serves five geographical markets chosen according to our market strategy, which is updated on a yearly basis.
0
50
100
150
200
201020092008
Africa, Middle East
Asia, Australia
Central & South America
Europe
North America
Net premium written in millions CHF
37.6
189.4
57.3
35.6
23.3
(20%)
35.6 (19%)
(30%)
(19%)
(12%)
42.2
195.1
51.3
36.3
13.8
(22%)
51.5 (26%)
(26%)
(19%)
(7%)
32.2
182.1
43.9
32.0
23.2
(18%)
50.8 (28%)
(24%)
(17%)
(13%)
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Construction and Operation
Infrassure provides insurance policies for projects in both the construction and operation phases.
0
50
100
150
200
201020092008
Net premium written in millions CHF
130.7
189.4
58.7
(69%)
(31%)
135.6
182.1
46.5
(74%)
(26%)
133.5
195.1
61.6
(68%)
(32%)
Construction
Operation
Insurance and Engineering Expertise
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• Several of the major metals producers in the world
• Majority of the large mining companies
• Urban metro expansion projects
• Global infrastructure projects such as tunnels, bridges, harbors, motorways, airports and railways
• Public services facilities such as desalination and water treatment plants as well as irrigation projects
Highlights Civil Construction, Metals & Mining
Infrassure’s insurance experience includes:
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• 11 of the top 15 global oil & gas companies
• Construction and operation of worldscale FPSO’s
• Multibillion dollar oil sands projects and subsequent operations
• LNG - from liquefaction to regasification
• Entire spectrum of upstream and downstream activities from oil & gas networks to global energy packages
• Well construction, encompassing COW, drilling rigs and subsea completions
• Technologically advanced processes such as gas-to-liquid and coal-to-liquid
Highlights Oil, Gas & Petrochemicals
Infrassure’s insurance experience includes:
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• All major power generation and transmission technologies – Gas turbine / combined cycle– Conventional fired steam turbine– Hydroelectric– Nuclear– Solar– Wind– Waste incineration / co-generation– Sub marine power cables
• Global portfolio greater than 200’000 MW
• More than 100 GT/CCPP projects (>50’000 MW)
• Sizeable and successful track record for independent power producers as well as leading utilities worldwide
• Direct relationships with major power plant contractors / equipment suppliers
Highlights Power
Infrassure’s insurance experience includes:
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• Major chemical companies, encompassing the full spectrum of chemical processes
• Several large scale pulp & paper producers worldwide
• The leading global semiconductor producers, involving the newest technologies, for example HD LCDs
• The principal aerospace and defense contractors
• Most of the world’s largest telecom providers, including 3G mobile networks
• A large number of prime motor and rail vehicle manufacturers from Europe, Asia and North America
• Manufacturing industries such as fertilizers, bio-fuels and cement & gypsum
• Pharmaceutical industry
Highlights Process, Electronics & Telecommunication
Infrassure’s insurance experience includes:
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Engineering Expertise
Infrassure’s underwriting team members have obtained academic credentials in
• Chemical engineering
• Civil engineering
• Electrical engineering
• Mechanical engineering
Infrassure’s underwriting team members have cooperated in a substantial number of engineering projects, e.g.:
• Geo-environmental projects for London Underground
• Oil & gas projects in various geographical areas
• Development of large F-class gas turbines
• Deployment and support of wide-area networks
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Underwriting and Claims Handling (I)
Infrassure’s underwriting and claims handling policy is based on three principles.
• Thorough analysis - of all technical and contractual aspects of a risk - by underwriters with engineering qualifications and industry experience.
• Four eyes policy - for all decisions.
• Single point of contact - ensuring consistent customer management throughout the entire term and claims settlement process.
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Underwriting and Claims Handling (II)
Infrassure’s business procedure is built on a sequence of interdependent steps. The day-to-day underwriting and claims handling is managed by the responsible Underwriting Claims Manager.
Clientrelationship
ClientSinglePoint ofContact
Infrassure
Underwritinganalysis
Insurance solutionstructuring
Policy administration
Risksurveys
Claimshandling
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Risk and Knowledge Division
The Risk and Knowledge division (R&K) is responsible for the training and support functions of the company, for example:
• All Underwriting & Claims Managers are given initial and continuing training and development.• On-going advisory support (legal and technical).• Portfolio analysis, including the use of proprietary NatCat Aggregation Tools, to assist Underwriting & Claims Managers in correctly selecting risks and in allocating appropriate capacity.• Licensing applications and compliance issues with regulators.
Solid Risk Protection
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Solid Financials
Infrassure’s financial strength is mirrored in the company’s balance sheet.
2008 2009 2010
0
100
200
300
400
500
600
22
339
126
46
362
89
66
16
533
28
312
210
46
440
72
61
23
5968
323
213
39
435
77
45
26
583Figures in millions CHF as per Dec. 31 Assets
LiabilitiesCurrent liabilities
Technical provisions
Cash & Investments
Receivables
R/I assets
Other long term assets
Longterm debt
Equity & Surplus
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Portfolio Diversification
Infrassure serves clients in over 100 countries and four groups of industries, thus creating a highly diversified policy portfolio.
Civil Construction, Metals & Mining
Oil, Gas & Petrochemicals
Power Process, Electronics & Telecommunication
We only promise what we can deliver –
and we deliver what we promise.
Infrassure Ltd.Uetlibergstrasse 134AP.O. Box 5089CH-8045 ZürichSwitzerlandwww.infrassure.com