QBE Insurance (Europe) Limited (Dubai Branch)
Contents Page no. QBE operations background & structure 3 QBE in the DIFC 13 Dubai product offerings 17 Dubai branch 29 Disclaimer 33 2 QBE Dubai Generic Presentation v4.0
QBE operations, background & structure How QBE was formed QBE Group Operations overview QBE European Operations underwriting structure QBE Group worldwide portfolio mix Security ratings Financial strength QBE Group 10-year history Leading insurance product range 3 QBE Dubai Generic Presentation v4.0
How QBE was formed 1973 QBE formed, taking the initials from Queensland, Bankers and Equitable Merged with Bankers and 1971 Traders Insurance Today Company 1959 Acquired Equitable Probate and General Insurance 1904 London Office formed Now 36 agencies across the world 1886 QBE Origins Sydney Australia known as North Queensland Insurance Co 4 QBE Dubai Generic Presentation v4.0
QBE Group Operations overview QBE Insurance Group Australian and New Zealand Operations Asia Pacific Operations European Operations North American Operations Latin American Operations 5 QBE Dubai Generic Presentation v4.0
QBE European Operations underwriting structure QBE Insurance Group Australian and New Zealand Operations Asia Pacific Operations European Operations North American Operations Latin American Operations QBE Re (Europe) Limited QBE Insurance (Europe) Limited QBE Underwriting Limited QBE Syndicate 2999 QBE Casualty Syndicate 386 QBE Reinsurance Syndicate 566 QBE Marine and Energy Syndicate 1036 QBE PCM Syndicate 1886 QBE Aviation Syndicate 5555 6 QBE Dubai Generic Presentation v4.0
QBE Group worldwide portfolio mix 7 QBE Dubai Generic Presentation v4.0
Security ratings Insurer financial strength ratings Company Issuer credit ratings Standard & Poor s Fitch Ratings A.M. Best QBE Insurance (Europe) Limited A+ (negative) A+ (negative) A (negative) QBE Re (Europe) Limited A+ (negative) A+ (negative) A (negative) Company Date of affirmation: 12 December 2013 11 December 2013 12 December 2013 Standard & Poor s Fitch Ratings A.M. Best QBE Insurance Group Limited A- (negative) A- (negative) bbb (negative) QBE Insurance (Europe) Limited A- (negative) a (negative) QBE Re (Europe) Limited a (negative) Date of affirmation: 12 December 2013 11 December 2013 12 December 2013 8 QBE Dubai Generic Presentation v4.0
Financial strength (US$) Group operating performance 2013 (US$M) 2012 (US$M) Gross Written Premium 17,975 18,434 Net Earned Premium 15,396 15,798 Underwriting profit 341 453 Combined Operating Ratio 97.8% 97.1% Insurance profit 841 1,262 Insurance profit to net earned premium 5.5% 8.0% Investment income 801 1,216 Net loss after income tax (254) 761 Source: QBE Insurance Group Annual Report December 2013. These figures will be updated with year end results. 9 QBE Dubai Generic Presentation v4.0
QBE Group 10 year history (US$) US$M 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 Gross written premium year ended 31 December 18,291 18,434 17,975 13,629 10,391 11,015 11,239 6,484 7,171 7,839 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Source: QBE Insurance Group Annual Report December 2013. These figures will be updated with year end results 10 QBE Dubai Generic Presentation v4.0
Leading insurance product range As a business insurance specialist, the breadth of the industry sectors we cover is almost as diverse as our range of products. With an appetite and capacity to provide cover for business of all sizes, we are market leaders in the majority of products we offer. Accident and health (inc commercial PA and business travel) After the event insurance Aviation Bloodstock Commercial crime Commercial combined Contractor all risks/ear Energy, offshore and onshore Entertainment and leisure industry Environmental impairment liability Financial and professional liability (D&O, PI) General liability (EL, PL, Tradesman) Marine 11 QBE Dubai Generic Presentation v4.0
Leading insurance product range (cont.) Motor Commercial (inc fleet, haulage, bus and coach, motor trade) Pharmaceutical and medical Political risk and terrorism Product guarantee and recall Product protection Property Reinsurance Scheme underwriting facility Specie Surety Trade credit and bonds Warranty and GAP 12 QBE Dubai Generic Presentation v4.0
QBE in the DIFC Long-term objective for the Middle East The Dubai International Financial Centre (DIFC) Regulatory status 13 QBE Dubai Generic Presentation v4.0
Long-term objective for Middle East QBE has a long-standing history of providing commercial insurance solutions to the MENA region via the Lloyd s platform and the opening of a Dubai operation in March 2009 is to continue the expansion of a Middle East offering with a local service and an experienced, on-the-ground underwriting resource 14 QBE Dubai Generic Presentation v4.0
The Dubai International Financial Centre (DIFC) The DIFC is an onshore hub for global finance It bridges the time gap between the financial centres of Hong Kong and London and services a region with the largest untapped emerging market for financial services Operates in an open environment complemented with world-class regulations and standards 750 firms have registered in just 4 years Offers institutions incentives such as 100% foreign ownership Zero tax on income and profits No restrictions on foreign exchange The Gate, Dubai International Financial Centre 15 QBE Dubai Generic Presentation v4.0
Regulatory status QBE Insurance (Europe) Limited (Dubai Branch) is regulated by the Dubai Financial Services Authority and is licensed to carry on Financial Services with or for Professional Clients 16 QBE Dubai Generic Presentation v4.0
Dubai product offerings Product capability and expertise Target territories Products offered through Dubai branch 17 QBE Dubai Generic Presentation v4.0
Product capability and expertise Ever increasing range of product lines available QBE is market leader in the vast majority of products we offer Healthy appetite for risk and a willingness to work flexibly with Brokers and clients Always willing to take a view on specialist risks Even if we do not cater for your precise requirements, we ll do all we can to provide a competitive solution 18 QBE Dubai Generic Presentation v4.0
Target territories Middle East North Africa Turkey 19 QBE Dubai Generic Presentation v4.0
Products offered through Dubai branch General liability Professional liability Property Construction Product protection Political violence 20 QBE Dubai Generic Presentation v4.0
General liability Capacity of up to US$160M all written on facultative reinsurance business Region: GCC / Middle East and North Africa Scope of cover Public liability Products liability Excess employers liability Excess Auto Liability Incidental errors and omissions Areas of focus include Chemicals Construction Energy Engineering Entertainment Food and Drink Hotels Petrochemicals Transportation Utilities 21 QBE Dubai Generic Presentation v4.0
Professional liability US$ 375M annual premium across Professional Indemnity, Commercial Directors and Officers liability and Financial Institutions liability Part of US$ 2.2B Casualty and Motor business unit Our market leading Lloyd s Casualty Syndicate 386 has been trading for over 35 years Worldwide excluding Asia / Australia distribution responsibility US$ 300M PI book across a diverse range of sectors Market leaders in construction and legal professions 22 QBE Dubai Generic Presentation v4.0
Annual renewable PI appetite Minimum premium: US$ 2,000 Local underwriting authority Negligence based QBE wording Capacity up to US$ 15M Target territories: GCC / Jordan / Lebanon Professions Architects and Engineers Accountants Design and Construction/Build IT/Tech/Media Insurance Brokers Legal Professionals Miscellaneous 23 QBE Dubai Generic Presentation v4.0
Construction single project PI appetite Minimum premium 10 year ERP: US$ 45,000 US$ 50,000 < 5 year ERP: US$ 40,000 US$ 45,000 < 3 year ERP: US$ 35,000 US$ 40,000 Local underwriting authority Negligence based QBE wording with full coverage for 10 year ERP Capacity up to US$ 15M Policy length up to 16 years inc ERP Target projects Commercial/Retail/Leisure including Hotels Residential/Mixed use including high rise Infrastructure projects 24 QBE Dubai Generic Presentation v4.0
Property Capacity of US$ 120M all written on facultative reinsurance business We are interested in commercial and industrial property risks whereby we are able to offer cover for property damage, loss of profits and machinery breakdown Region: GCC Preferred Occupancies Dwellings Healthcare Services and Hospitality Retail and General Commercial Food and Drink Manufacturing Industrial / Light and heavy fabrication and assembly Education Telecom / communications companies Water / Sewerage 25 QBE Dubai Generic Presentation v4.0
Construction Capacity of US$ 50M all written on facultative reinsurance business Region: GCC / Middle East and North Africa Scope of cover Contractors All Risks (CAR) EAR Plant all risks Areas of focus include general builders and specialist trade contractors including those involved in House building Commercial and Industrial Buildings Installation of mechanical and electrical equipment Utilities Infrastructure 26 QBE Dubai Generic Presentation v4.0
Product protection We are interested in Mandatory Programs for Auto Dealers and Banks All solutions are designed by our experienced professionals in partnership with the client in order to deliver mutually beneficial, consistent and continuous growth Our global client base includes brands such as Ford, Mazda, BMW, Toyota and Daimler Chrysler Scope of Cover Gap Return to Invoice Return to Loan Warranty Auto Extended Warranty 27 QBE Dubai Generic Presentation v4.0
Political Violence Capacity up to US$ 58.5M Target territories are GCC, MENA, and Turkey Target industries Industrial Commercial and Real Estate Power / Utilities Ports / Airports Medical Education Fine Art Telecoms Construction 28 QBE Dubai Generic Presentation v4.0
Dubai branch Dubai team & contact details Location map 29 QBE Dubai Generic Presentation v4.0
Dubai team & contact Details Khalil Eid General Manager D: +971 4 508 1401 M: +971 50 189 1275 E: khalil.eid@ae.qbe.com Fouad Serhan Development Underwriter D: +971 4 508 1430 M: +971 56 179 1784 E: fouad.serhan@ae.qbe.com Vladan Radakovic Senior Underwriter - Property D: +971 4 508 1409 M: +971 56 644 2199 E: vladan.radakovic@ae.qbe.com Christopher Savvas Underwriter Professional Liability D: +971 4 508 1412 M: +971 56 179 3397 E: christoper.savvas@ae.qbe.com Emir Erdur Underwriter Casualty & EIL D: +971 4 508 1413 M: +971 50 645 3457 E: emir.erdur@ae.qbe.com Lucy Houston Underwriter - Property D: +971 4 508 1411 M: +971 56 179 3400 E: lucy.houston@ae.qbe.com 30 QBE Dubai Generic Presentation v4.0
Dubai team & contact Details Johnson John Compliance Officer D: +971 4 508 1410 E: johnson.john@ae.qbe.com Nicole Pereira Underwriting Assistant - Property D: +971 4 508 1406 E: nicolerenee.pereira@ae.qbe.com Osama Nabahin Product Protection Accounts & Claims Manager D: +971 4 508 1431 M: +971 56 179 1784 E: osama.nabahin@ae.qbe.com Abbie Larroza-Abbott Office Manager D: +971 4 508 1402 M: +971 56 179 6366 E: abbie.larroza@ae.qbe.com Patricia Weston Underwriting Assistant - Casualty D: +971 4 508 1414 E: patricia.weston@ae.qbe.com 31 QBE Dubai Generic Presentation v4.0
Office location QBE Insurance (Europe) Ltd. Dubai Branch Office 411, Level 4 Dubai International Financial Centre Gate Village Building 4 P.O. Box: 506840 Dubai United Arab Emirates Switchboard: +971 4 508 1400 Fax: +971 4 325 8699 32 QBE Dubai Generic Presentation v3.0
Disclaimer The information contained herein has been prepared by QBE Insurance Group Limited or one of its subsidiaries ( the QBE Group ). Such information is confidential and is being provided to you solely for your information. It is not intended to create any duty towards you or any other business or legal relationship. The QBE Group makes no warranty or representation of any kind in respect of this information, in particular as to its accuracy, completeness, timeliness or suitability for your purpose. To the fullest extent permitted by law, the QBE Group disclaims any responsibility or liability for any loss or damage suffered or any costs incurred arising out of or in connection with your reliance on the information contained herein. Some of the information in this presentation may contain projections or other forward-looking statements regarding future events or the future financial performance of QBE. The inclusion of such forward-looking information shall not be regarded as a representation by QBE or any other person that the objectives or plans of QBE will be achieved. QBE undertakes no obligation to publicly update or publicly revise any forwardlooking statement, whether as a result of new information, future events or otherwise. By accepting a copy of this presentation, you agree to be bound by the foregoing limitations and conditions and, in particular, will be taken to have represented, warranted and undertaken that you have read and agree to comply with the contents of this disclaimer. The reproduction or transmission of all or part of this document, whether by photocopying or storing in any medium by electronic means or otherwise, without the written permission of the owner, is prohibited. QBE European Operations 2013 33
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