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1 LLOYD S IN CANADA Contents 1 About Lloyd s 2 How Lloyd s works 3 Financial strength and ratings 3 Global reach 4 Multiple classes, maximum innovation 5 Lloyd s Canada a major player 6 Contact us

2 ABOUT LLOYD S 1 About Lloyd s Lloyd s is the world s specialist (re)insurance market, conducting business in over 200 countries and territories worldwide. We re often the first to insure new, unusual or complex risks, providing risk management solutions for local, cross border or global risks of any size. We bring together an outstanding concentration of specialist expertise and talent, backed by excellent financial ratings which cover the whole market. Since its humble beginnings in Edward Lloyd s coffee shop in London 327 years ago, Lloyd s has been at the forefront of developing new insurance products to meet the changing needs of policyholders. Learn more about Lloyd s at Lloyd s international strategy Lloyd s Vision 2025 is the long term strategy to reinforce Lloyd s position as the global center for specialist insurance and reinsurance in a changing world. Read more about our international strategy at

3 HOW LLOYD S WORKS 2 How Lloyd s works Our unique structure creates a market based on trusted relationships and expertise. Lloyd s is a broker market, with brokers involved in all aspects of our distribution channels. The majority of business written at Lloyd s is placed through brokers, who facilitate the risk transfer process between policyholders and underwriters. A Lloyd s syndicate is formed by one or more members joining together to accept risk. Many syndicates write a range of classes of business and others specialize in one or two. The capital which supports syndicates underwriting is provided by members of Lloyd s, among them individuals, limited partnerships and global insurance groups. A managing agent is a company set up to manage one or more syndicates on behalf of the members providing capital. A coverholder is a business authorized by a managing agent to accept insurance risks on behalf of a syndicate. The scope of the coverholder s remit is set out in a Binding Authority Agreement between the managing agent and the coverholder. A service company operates like a coverholder but is a wholly owned subsidiary of a managing agent or its group. Unlike a coverholder, a service company is able to sub-delegate underwriting authority to other coverholders. The Corporation of Lloyd s oversees overall risk and performance management of the market, provides processing services, manages the global network of licenses and promotes the Lloyd s brand. Find out more about Lloyd s market structure Strength in numbers The sheer scale of the market means it can offer a huge diversity of products; the scope of specialist broking and underwriting expertise found together under the Lloyd s umbrella makes it unique. 94 SYNDICATES of specialist underwriting experience and talent. 3,872 coverholders offering a local route to Lloyd s. 219 Brokers bring business from over Countries and territories The Lloyd s underwriting room 94 syndicates are run by the 59 managing agents shown here as at 31 December 2014.

4 FINANCIAL STRENGTH AND RATINGS GLOBAL REACH 3 Financial strength and ratings Global reach Lloyd s unique capital structure, often referred to as the Chain of Security, provides excellent financial security to policyholders and capital efficiency for members. The Chain of Security provides the financial strength that ultimately backs insurance policies written at Lloyd s and the common security that underpins the market s ratings and license network. Lloyd s Chain of Security 2014 Financial performance C$5.7BN Profit before tax 88.1% Combined ratio C$46bn Gross written premium income C$4.7bn Central assets For further details visit The Lloyd s market provides insurance to over 200 countries and territories worldwide. Our licenses in over 75 jurisdictions, supported by a network of local offices and coverholders across the world, ensure access to insurance markets large and small. Lloyd s international network can underwrite your local, cross border or global risks of any size and complexity. To find out more about what Lloyd s can underwrite and where visit 44% US and Canada Several assets Mutual assets First link Second link Third link International capital supporting Lloyd s 30% UK listed and other corporate 2 US insurance industry 24% Worldwide insurance industry 13% Bermudian insurance industry 9% Individual members (limited liability) Individual members (unlimited liability) Syndicate level assets C$81,702m Members funds at Lloyd s C$28,424m Central Fund C$2,878m Corporation C$186m Subordinated debt/securities C$1,602m How leading rating agencies assess our financial security A+ STANDARD & POOR S A+ (Strong) AA- FITCH RATINGS AA- (Very Strong) Callable layer C$1,410m A A.M. BEST A (Excellent) All figures and exchange rates as at December 31, 2014 ( 1=C$1.81). Gross premium uses average exchange rate for 2014 ( 1=C$1.82). Lloyd s global business breakdown 8% Other Americas 18% UK 15% Rest of Europe 11% Central Asia and Asia Pacific 4% Rest of the world Learn more at

5 MULTIPLE CLASSES, MAXIMUM INNOVATION 4 Multiple classes, maximum innovation The scope of the Lloyd s market and our underwriters talent and expertise produces innovative solutions across multiple classes of business in Canada and worldwide. We provide cover for all classes of business, including the following: Marine Liability Property Emerging risks Lloyd s is an industry leader in marine business. Main classes include hull, cargo, marine liability and specie (the insurance of valuable property such as precious metals, art or jewelry). Aviation Lloyd s is an industry leader in the global aviation market and writes across all main business segments including airline, aerospace, general aviation and space. Airline (hull and liability) is the largest segment but Lloyd s aviation is also actively involved in the underwriting of general aviation (eg privately owned light aircraft, helicopters and large private corporate jets), airport liability, aviation product manufacturers liability, aviation war/ terrorism and satellite launch/in-orbit risks. Lloyd s is a top player in the liability class of business with 18% market share in Canada. Liability is Lloyd s largest class of business and covers a broad range of classes including professional indemnity, directors and officers liability, cyber liability, medical malpractice and general liability. Energy The Lloyd s energy sector includes a variety of onshore and offshore property and liability classes, ranging from construction to exploration and production, refinery and distribution. Alberta is home to the third largest crude oil resource in the world. Lloyd s has long been a home for complex or unusual risks. The commercial property class for Lloyd s in Canada represents approximately 86% of the total direct property premiums written. Lloyd s also provides a small amount of coverage for residential risks, of which 6 is written in B.C. Reinsurance Lloyd s is among the world leaders in reinsurance, bringing global capital to support insurance businesses exposed to catastrophes. Lloyd s reinsurance business in Canada covers a wide range of classes and is written primarily as treaty with property as the predominant class, accounting for over 66% of the total. Casualty ranks second with 11% and Marine at 6% of the total reinsurance placed from Canada. From climate change to terrorism and energy security to liability, businesses need to understand emerging risks to successfully lead their organizations into the future. Lloyd s emerging risk reports bring together the views of some of the world s leading academic, business and insurance experts. We analyze the latest information on emerging risks to ensure we re able to provide new risk management solutions in a fast changing world. Read more about emerging risks, visit

6 LLOYD S CANADA A MAJOR PLAYER 5 Lloyd s Canada a major player In Canada, Lloyd s is best known as a market for commercial risks in respect of property, casualty and specialty classes of business. Lloyd s Canadian market share by province 2014 Lloyd s Underwriters have provided insurance coverage in Canada since before Confederation. Lloyd s established its first representative office (known as Lloyd s Attorney in Fact) in Montreal in Lloyd s Underwriters are amongst the largest providers of commercial (re)insurance coverage in Canada, insuring businesses large and small. Lloyd s has built its success in Canada on its appetite for large and specialty risks and the flexibility it brings to its underwriting approach. The Canadian Insurance market is a mature market and one that reflects the sophistication and diversity of Canada s economy; ranked 10th in the world, $1.8 trillion dollar GDP and a population of 35 million. In 2014 Lloyds premium in Canada accounted for C$2.6bn 24% BC 20% AB 27% ON 15% QC Lloyd s Lineage Platform 14% Other provinces The Lineage Platform is the Lloyd s Canadian coverholder system used to enter policy and claims information. This information is used to automatically create bordereaux and management reporting, satisfying regulatory requirements and effect settlement to and from London. Major Features Lineage has the ability to accept both policy and claim upload data transfers which eliminates double entry. Lineage provides the ability to monitor and report on risk and claims data for in-force business. Direct settlements to/from London of premiums, paid claims and claims advances. Lineage Facts 55 % of eligible BA (binding authority) business is currently going through Lineage. Straight through processing data entered once from the coverholder s broker management system to their Lloyd s broker and the managing agent bordereaux management system. Lloyd s Market Intelligence products contain further analysis and information on Lloyd s business in Canada. Breakdown of Canadian business % Liability 35% Commercial Property 5% Personal Property Accident & Sickness Marine Boiler 5% Aircraft Motor 3% Other

7 CONTACT US 6 Contact us Contact your local Lloyd s office in Canada for information and assistance about how to access the Lloyd s market. Toronto Sean Murphy President, Lloyd s Canada and Attorney In Fact in Canada for Lloyd s Underwriters Angela Blackwood Market Operations & Regulatory Analyst Heather Ciavarella Senior Business Solutions Manager Montreal Lucie Payette Senior Operations Manager Mary Arabian Senior Executive, Regulatory Affairs For all enquiries, please get in touch with your Lloyd s contact listed above or use the contact details below. Lloyd s Canada website Lineage website Telephone: Global offices Africa Asia-Pacific Europe Middle East North America South America This guide has been produced for general information purposes only and Lloyd s does not make any representations or warranties as to its accuracy or completeness (and excludes, to the greatest extent permitted, any which may be implied). Lloyd s accepts no responsibility or liability for any loss or damage of any nature incurred as a result of any act or omission resulting from, or any reliance on, anything contained in this guide. This guide does not constitute advice of any kind. Lloyd s 2015 All rights reserved. Lloyd s is a registered trademark of the Society of Lloyd s. Designed by frankbrightabel.com lloyds.com/facebook

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