RenaissanceRe. Agriculture Products

Transcription

1 Syndicate 1458 Agriculture Products

2 Syndicate 1458 Agriculture Products Syndicate 1458 is part of the Group of Companies a leading global provider of property catastrophe and specialty reinsurance, and selected insurance coverages. was founded in Bermuda in 1993 and now has additional locations in the United States, Singapore and Dublin, as well as its London platform at Lloyd s. has gained recognition for excellence in the industry through disciplined underwriting, capital management expertise, sophisticated risk modelling and responsive client service. is traded on the New York Stock Exchange under the ticker symbol RNR.

3 OUR UNDERWRITING Syndicate 1458 at Lloyd s provides a lead underwriter crop reinsurance capability to our partners. We offer our clients a combination of the traditional strength of reinsurance risk management tools with innovative risk assessment and modelling techniques accessed from the commodities markets and weather-science communities. With decades of specialisation in agriculture, our team members have extensive experience in agriculture analytics and underwriting. BUSINESS AND PRODUCTS: Original Business Crop Hail, Crop Named Peril and Multiple Peril Crop Insurance Revenue Insurance, Weather and Yield Index products on a case by case basis Livestock Insurance on a highly selective basis Territory United States, Canada and Mexico European Union, Central and Eastern Europe China, Australasia and India Brazil and Argentina South Africa Other territories assessed on a case-by-case basis Crop Types Primary field crops, including cereals, oil-seeds, coarse and fine grains Orchard and vineyard business on an exceptions basis High value or high risk crop types only as part of a whole account Reinsurance Contract Stop Loss and Aggregate Excess of Loss Treaty Reinsurance Quota Share Proportional Treaty Reinsurance Facultative Reinsurance on insurance schemes/portfolios

4 RATINGS A.M. Best S&P Fitch Lloyd s Overall Rating A A+ A+ Renaissance Reinsurance Ltd. A+ AA- A+ GROUP STRUCTURE CATASTROPHE & SPECIALTY REINSURANCE VENTURES LLOYD S Renaissance Reinsurance Ltd. Ventures Ltd. Syndicate 1458 DaVinci Reinsurance Ltd. Top Layer Reinsurance Ltd. Specialty Risks Ltd. Specialty U.S. Ltd. Renaissance Underwriting Managers, Ltd. Medici Fund, Ltd. Upsilon Reinsurance Fund Opportunities Ltd. Renaissance Reinsurance of Europe Bermuda Domiciled Ireland Domiciled United Kingdom Domiciled (A Lloyd s syndicate) RENAISSANCERE HOLDINGS LTD. FINANCIAL HIGHLIGHTS (U.S. dollars in millions) Gross premiums written $1,605.4 $1,551.6 $1,435.0 Net income (loss) $665.7 $566.0 $(92.2) Total assets $8,179.1 $7,928.6 $7,744.9 Total shareholders equity $3,904.4 $3,507.1 $3,608.5

5 OUR ANALYTICAL ADVANTAGE The agricultural industry is quickly evolving due to the pressures of globalization, increased crop demand, rising production costs and variable weather patterns. Modelling the growing correlation between crops and regions on an international scale is critical to understanding the true tail risk of various perils and the financial exposure of the producers and insurers. Additionally, the interaction of yield risk with price risk can expose producers to unexpected revenue shortfalls since commodity price decreases could offset above-average crop yields. Crop producers and agribusiness entities around the world are realizing the value of forward-thinking insurance providers who can provide innovative products, financial strength, and superior risk management. offers clients and partners exceptional commodity market and weather science analytical and modelling insight in the crop insurance and reinsurance markets. Our analytics combine extensive historical agricultural data with cutting-edge technology and an experienced team to design programmes and build models specific to the client. We focus on understanding the impact of yield and price risk for each producer based upon crop characteristics, production area and weather patterns. Special Sensor Microwave Imager (SSMI) temperature, wetness and snow cover measurements are available on a weekly basis for all global crop regions. Since these products are derived from microwave sensors, they are available under nearly all sky conditions. Importantly, objective SSMI techniques can diagnose surface wetness regardless of its origin (irrigation vs. precipitation). Based on a twenty-year historical database with 30km resolution, SSMI information is ideally suited for yield forecast applications and for providing visual evidence of domestic and international crop conditions.

6 SPECIAL SENSOR MICROWAVE IMAGER (SSMI) MEASUREMENTS Land Surface Temperature Anomalies for July 2013 (Derived from the SSMI satellite instrument) Temperature anomaly (C) Land Surface Wetness Anomalies for July 2013 (Derived from the SSMI satellite instrument) Surface Wetness (historic percentile) WEATHERPREDICT CONSULTING INC. Our goal has always been to pursue a better understanding of the natural hazards risks facing our clients so we can offer innovative and creative solutions to their unique challenges. We have dedicated significant in-house resources to weather risk research and modelling to enable clients to make more informed decisions, including one of the industry s largest private teams of PhD-level scientists through WeatherPredict Consulting Inc. (WPC).

7 WPC s team of advanced scientists draws upon expertise in oceanography, meteorology, wind engineering, aerodynamics, physics and computer simulation. WPC provides intelligence on atmospheric perils to entities interested in anticipating the occurrence and outcome of weather events. WPC offers our clients and partners an unmatched insight into the unique weather challenges facing their agriculture business through industry-leading expertise in modelling natural hazards and vulnerabilities.

8 KEY CONTACTS David Heatherly Executive Director and Specialty Underwriter Tel: +44 (0) Mobile: +44 (0) Jim Mann Specialty Underwriter Tel: +44 (0) Mobile: +44 (0) Peter McLoughlin Head of Claims Tel: +44 (0) Mobile: +44 (0) Sam Drysdale Claims Adjuster Tel: +44 (0) Mobile: +44 (0) James Long Head of Agriculture Analytics Tel: Mobile: Syndicate 1458 at Lloyd s is managed by Syndicate Management Limited, company number , incorporated in England and Wales, whose registered office and principal place of business is 18th Floor, 125 Old Broad Street, London, EC2N 1AR. Syndicate Management Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. RENAISSANCERE SYNDICATE 1458 Syndicate 1458: 125 Old Broad Street London, EC2N 1AR U.K. Tel: +44 (0) Lloyd s Address: Box 282 and 283 Lloyd s of London One Lime Street London, EC3M 7HA U.K.