CBMU Annual Conference
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1 CBMU Annual Conference November 27, 2012 IUMI Facts & Figures Committee & ALSUM - Latin American Marine Underwriters Association 12/19/2012 1
2 Marine Insurance in Latin America Erika A. Schoch IUMI Facts & Figures Committee & ALSUM - Latin American Marine Underwriters Association 12/19/2012 2
3 Let's go Back in Time Sept, /19/2012 3
4 Agenda Economical background Latin America Insurance premium Latin America Insurance details per market Type of coverages 12/19/2012 4
5 Latin American Real GDP Growth 15% 10% 5% 0% -5% -10% Brazil Chile Colombia Mexico Peru Source: Swiss Re Economic Research & Consulting 12/19/2012 5
6 Inward and Outward Foreign Direct Investment Stock ( ) 700,000 (in mio USD) 600, , , , , , Brazil Chile Colombia Mexico Peru Source: Swiss Re Economic Research & Consulting 12/19/2012 6
7 Latin American Investment Rate 2011 Investment Rate as part of the GDP Brazil 19% Chile Colombia 22% 23% Mexico 20% Peru 24% 0% 5% 10% 15% 20% 25% 30% 12/19/2012 7
8 Exports by sector (%) Brazil Chile Agriculture prod. Fuels and mining prod. Manufactures Mexico Peru 58.2 Colombia Source: Swiss Re Economic Research & Consulting 12/19/2012 8
9 Sovereign ratings Country Foreign Currency Long Term Foreign Currency Short Term Moody's S&P Fitch Moody's S&P Fitch Brazil Baa2 BBB BBB NR A-2 F2 Chile Aa3 A+ A+ NR A-1 F1 Colombia Baa3 BBB- BBB- NR A-3 F3 Mexico Baa1 BBB BBB WR A-2 F2 Peru Baa1 BBB BBB NR A-2 F2 Source: Bloomberg Proinversion 12/19/2012 9
10 Economic Freedom & Doing Business Index Nr. Economic Freedom Index (186 countries) Nr. Ranking Doing Business (183 Countries) 1 Hong Kong 7 Chile 42 Peru 45 Colombia 54 Mexico 99 Brazil 1 Singapore 37 Chile 43 Peru 45 Colombia 48 Mexico 130 Brazil Source: Economic Freedom Index, Doing Business 12/19/
11 Marine insurance growth in Latin America 2010 (in USD mio) 2011 (in USD mio) 2,289 (7.7%) 2,639 (8.2%) 27,444 29,183 Latin America Latin America Rest of the World Rest of the World Source: IUMI, ALSUM 12/19/
12 Agenda Economical background Latin America Insurance premium Latin America Insurance market Type of coverages 12/19/
13 Latin American Marine Insurance Premium (in Mio. USD) 2,000 1,800 1,600 1,400 1,200 1, Cargo Offshore Economical & Legal Environment Social & Political Environment Infrastructure The New "Sexy" Market competition Lack of marine knowledge Excess of Confidence LA Classic Marine Risks Source: ALSUM 12/19/
14 Agenda Economical background Latin America Insurance premium Latin America Insurance market Type of coverages 12/19/
15 Brazilian Marine Market Analysis (in Mio. USD) Economical & Legal Environment Political & Social Environment Size of the market Protectionism vs PAC 1 & 2 (2) Infrastructure Auto-sufficient Coinsurance Quick learner Nat Cat Exposures LA Classic Marine Risks - Cargo Hull (1) Marine Liab. Offshore (1) Before 2011 Marine Liab. were included within the Hull LoB (2) PAC = Programa de Aceleração de Crescimento Source: ALSUM 12/19/
16 Chilean Marine Market Analysis (in Mio. USD) Economical & Legal Environment Political & Social problems Infrastructure Nat Cat Exposure Technical vs Commercial Rates Coinsurance (in Hull) London Market Attention LA Classic Marine Risks Cargo Hull Offshore & Marine Liab.: No data available Source: ALSUM 12/19/
17 Colombian Marine Market Analysis (in Mio. USD) Economical & Legal Environment Political & Social Environment Infrastructure Technical vs Commercial market Nat Cat Exposures LA Classic Marine Risks Cargo Hull Offshore & Marine Liabilities : No data available Source: ALSUM 12/19/
18 Mexican Marine Market Analysis (in Mio. USD) Economical & Legal Environment Political & Social Environment Infrastructure USA Size of the market Nat Cat Exposures Classic Marine Risks Cargo Hull Offshore Offshore data is best estimates Marine Liabilities: No data available Source: ALSUM 12/19/
19 Peruvian Marine Market Analysis (in Mio. USD) Economical & Legal Environment Political & Social Environment Infrastructure A "Fishy" market Market competition Nat Cat Exposures Classic Marine Risks 20 - Cargo Offshore Offshore data is best estimates Marine Liabilities: No data available Source: ALSUM 12/19/
20 Venezuelan Marine Market Analysis (in Mio. USD) Economical & Legal Environment Political & Social Environment Infrastructure Currency / Exchange Rate Control LA Classic Marine Risks Cargo Hull 2011 data is best estimates Marine Liabilities: No data available Offshore Source: ALSUM 12/19/
21 Agenda Economical background Latin America Insurance premium Latin America Insurance market Type of coverages 12/19/
22 Classic Marine Risks in Latin America Impact to the marine insurance industry High Accumula tions Nat Cat General Average Robbery Theft Turn over Low Piracy Strike - + Market risk perception: Conscious Less conscious Nr of losses 12/19/
23 Let's Come Back to the Present Sept, 2012 Source: IUMI 12/19/
24 THANK YOU Special thanks to ALSUM and Swiss Re Economic Research & Consulting for their statistical Input 12/19/
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