AIG再保险.doc

AIG再保险AIG 再保险26004年10月AIG 今日话题组织结构承保先进经验及其对再保险的影响再保险部门的使命再保险部门组织结构及职责巨灾分析方法再保险部门信息及网页再保险市场情况AIG再保险部门要点总结AIG的组织结构AIG是控股公司/全球运营主营业务非寿险寿险其它重要业务金融退休金资产管理AIG的组织结构国内经纪集团National Union Fire Insurance company of Pittsburgh, PaAmerican Home Assurance CompanyAIG EnvironmentalLexington Insurance CompanyThe Hartford Steam Boiler Inspection and Insurance Company (HSB)AIG Risk Management (AIGRM)Specialty Business Divisions 国外非寿险集团American International Underwriters Overseas AssociationNew Hampshire Insurance CompanyAmerican Home Insurance CompanyNational Union Fire Insurance Company联合保证保险公司跨大西洋控股公司 10大中国企业 2003收入（十亿）* 美国国际集团 (AIG) $美元 - $ 81.30中国银行建设银行中化集团 中国电信中国人寿中国移动工商银行中国石化石油天然气集团国家电网公司$15.36127.19 10$18.66154.53 9$18.84155.99 8$19.46161.11 7$19.53161.71 6$20.76171.87 5$21.05174.34 4$56.36466,67 3$57.40475.292美元 $58.33人民币 482.951AIG 非寿险业务AIG非寿险公司在全球范围内运营，针对它们的直接客户进行承保并承担风险，利用再保险分担它们自留限额以外的风险国内经纪集团 (DBG)在美国及加拿大运营2003年净保费收入 = $200.6亿美元承保几乎所有商业风险专业市场控制承保国外非寿险集团 (AIUOA)AIUOA 在70多个国家运营2003净保费收入 = $75.7亿美元承保商业及个人业务根据国情改进产品当地法律 风俗客户需要市场细分 进行市场细分DBG/AIUOA 销售/营销业务分为三个部分客户群大小及不同的素质产品满足不同需要保障范围服务营销 市场细分AIUOA商业保单限额 > $4千万美元中间市场保单限额在$5百万和$4千万之间小企业解决方案 (SBS)保单限额在$5百万或以下DBG全国性客户销售额>$7亿美元商业客户销售额从$1亿到$7亿中间市场 / 小企业承保中心销售额在$1亿以下承保先进经验“训练我们人员的基本功并保证实施正确的标准和纪律是管理人员的责任” AIG高管承保先进经验AIG 承保员的职责坚持筛选标准提供保障坚持定价标准保持职业素质承保先进经验避免逆选择并清楚承保限额是决定AIG承保成功以及总体盈利的两个要素承保权限/政策/原则承保权限赋予承保员的权限根据职位、水平和经验而有所不同承保先进经验承保政策AIG 承保政策包括承保业务及其类别，开展范围，表格，费率及费率计划承保原则原则帮助作出层次分明的决定，保证连贯性，积累经验，实施规定的权限并避免重复劳动承保先进经验AIG 承保员遵循公司策略，其中包括具体销售目标AIG 承保员的责任包括：市场/销售承保分析/选择监控风险承保员对他们所主管的业务（包括再保险的结果）负责承保先进经验再保险再保险是关键承保定价利润再保险必须遵循部门的产品承保原则承保员的权限承保先进经验再保险承保员分析风险并确定再保需要没有合适的再保险，保险范围就无法确定合约可以用于承保整个业务查看AIG合约再保网页临时再保险和中介在AIG批准的清单上/aignetprod.Aig3/reinsurance/security/default.htm承保先进经验再保险承保员不能在公司内部进行分保例外 除外规定承保权限规定产品承保原则承保员负责所有合约及临时分保编码的准确再保险部门的使命在公司的层面上，管理所有AIG再保业务：分保或自留，合约或临分。管理的实现依靠分析、监督再保需求和结果，并同时依靠协商、制定并批准再保文件和交易伙伴。AIG 再保部门承保关系再保制定政策、程序及原则承保员运用再保原则执行策略AIG 再保部门承保关系业务人员反馈再保原则沟通信息AIG 再保部门购买并管理再保险监督信用风险再保险人偿付能力制定政策及程序AIG风险管理策略不可或缺的一部分再保组织结构AIUOA再保部门DBG再保部门再保 担保部门负责分析并监督代表AIUOA、AIMA及Starr技术风险公司开展的非美国和加拿大的再保业务负责所有DBG财险的再保业务再保担保单位确定并批准所有再保人及中介，监督由交易伙伴带给AIG的信用风险AIG 再保担保程序确保分担我们保单的公司是安全的赔付增加带来信用风险检验再保业务合约及临分根据再保人员划分对比AIG “批准的再保险人清单”AIG 再保担保程序如果再保险人因为不安全或单独承担风险而不合格，再保担保部门将需要：担保抵押现金信用证明 (LOC)担保委托协议AIG 再保险AIG 分保约 $100亿美元约$25亿美元是临时分保AIG 在公司的层面进行内部分保（市场/机会）再保险是公司风险管理策略的关键再保险总监直接向CEO报告再保险的作用承保能力 风险大小概念使公司可以承保超出他们资本允许范围内的大型风险，或超出他们承保规定的风险再保险的作用净保费和净资产的比例1930s Kenney 比例: 2:11974 IRIS 比例: 3:1风险资本: 不同 再保险的作用净保费和净资产的比例例子:公司有净资产 - $15K要收取保费 $90K比例: 毛保费 to PHS = 6:1公司购买 50% 比例合约比例: NPW to PHS = 3:1 再保险的作用减轻净资产压力AIG 作为原保险人需要提交财务报表法定会计准则 保单获取费用 (随时)保费收入 (一段时间)会计准则给净资产增加压力再保佣金可以帮助减轻净资产压力再保险的作用稳定 赔付率 (频率) 概念去除每年的赔付高峰和低谷回应股东、监管机构及评级机构的关注再保险的作用巨灾保护一个事件可以严重影响公司的财务结果原保险人的巨灾风险包括地震海啸飞机失事爆炸恐怖袭击洪水再保险的作用巨灾保护通过防止对净资产的侵蚀为公司提供帮助，避免对其偿付能力的威胁，向股东支付红利或保持他们在评级机构里的评级在巨灾发生的年度稳定他们的统计结果巨灾分析Evaluating the Risk预测风险和结果 单个地点分析 业务赔付模型AIGRMG (# Employees)TRIA-Replacement ValueLexington CA QuakeReplacement ValueLexington HurricaneReplacement Value年度损失模型AS OF JULY:Divisions required to submit. all locations. Have received:70% Div 02 & 5580% Div 59For All Divisions:85% of locations with over 300 FTEs70% of all FTEs假定举例显示如何利用模型确定国际客户的保障范围Company X US Operations covered by World SourceCompany X Japan Operations covered by World SourceExcess Coverage 集合业务分析Primary LimitExcess Layer Limit事件分析MON 9/15 5PMTUES 9/16 11PMWED 9/17 5PMTHURS 9/18 11AMSUN 9/14 11AM可能的损失120110100908070FRI 9/19 11AM再保险的作用承保专业技术新业务风险种类赔付费率计算方法保险范围特殊风险用再保险再保险的作用停止业务取消所有保单并退还保费昂贵法律不允许破坏公司形象再保整套业务100% 再保业务组合再保AIG 再保险网页 再保险网页提供给业务人员提供参考沟通基础标准政策和程序更新批准的清单进行临时分保即时信息控制信息 AIG Reinsurance 在AIG Family 下拉菜单中： 所有网址 公司服务和行政 国内非寿险 金融服务 寿险和年金AIG 再保险主页AIG 再保险机构 直接向CEO报告方便使用，连贯，导向清晰，简单的搜索工具.公布有关AIG某些再保领域的信息。 很好的学习工具！AIU 再保险主页提供了其它链接使用户可以搜索更多信息。DBG 再保险主页他们的公司使命，DBG再保险网页有很多领域的信息。DBG 再保险工具 （例子）前台项目再保险模板介绍文件DBG 先进经验再保险部分DBG 再保工具 (继续举例)业绩管理计划 PMP 报告网页搜索合约E-Reinsure单独的登陆画面DBG 再保 （合同用语举例）再保险担保单位网页Has its own areas for further navigation of information.再保险担保程序再保险担保 批准的清单 (国内及国外的再保险人和再保险中介)其它再保险服务单位其它再保险服务单位（续）其它再保险服务单位（续）)再保监管再保及保险新闻 再保担保负责维护更新AIG 再保险 (其它有兴趣的领域)Useful Links: AM Best NAIC RAA S&P参考： 批准的清单 词汇 联系人 特殊报告再保服务联系人一个电话或一封e-mail就可以联系我们。市场信息25个最大再保险人 2002最大的再保险人 $119,290,000,000整个全球市场 $175,000,000,000 市场信息 2002 再保类型市场信息 2002 再保来源十大再保险公司 2003 ($ 百万)根据再保险净保费来源：标准普尔Partner Re GroupConverium GroupSCOR Re Group Allianze Re Group劳合社Hannover Re GroupEmployers Re GroupBerkshire Hathway Re瑞士再慕尼黑再百慕大3,589.6 10瑞士3,827.0 9法国4,260.1 8德国5,226.1 7英国7,818.3 6德国8,700.3 5美国9,729.0 4美国11,946.0 3瑞士24,776.62德国$29,197.9 1市场信息美国根据业务划分的再保 - 2002业务 主导公司 比例.*企业财险 National Indemnity 9.5%家财险 American Agric 20.8%医疗责任 Transatlantic Re 5.4%工伤 American Re 7.6%责任险 Swiss Re 8.5%车险 Transatlantic Re 23.3%*Percent of all lines市场信息再保业务分割 1990 Vs. 2000 产品 1990 2000超额赔付 责任 44% 31%超额赔付 财产 11% 15%比例 责任 17% 27%比例 财产 19% 14%其它 9% 13% AIG 再保险再保险部门及其先进经验对于AIG的几个方面是核心：承保产品定价利润AIG 再保险要点保护资产负债表承保能力/自留额策略计划开发产品及业务风险管理AIG 再保险 谢谢Thanks you for the opportunity to speak with you today. My name is John Carey, I am with AIG Business Consultants located in Beijing.My presentation is about AIGs Reinsurance Department. Since this is such 7a large topic, I have tried to give a 5view of AIGs reinsurance department, however I could not do that without framing the AIG organization and how the R/I department functions within in it. So I have covered several areas:AIG overall organizational StructureAIG Underwriters Best Practices and how they apply to ReinsuranceThe Mission of the Reinsurance DepartmentThe Reinsurance Departments organizational structure and responsibilitiesCatastrophic Analysis methodologyReinsurance Department Information & Web site distributionGeneral reinsurance market informationAIG Reinsurance Department Key Point Wrap upAIG is the worlds leading international insurance and financial services organization, with operations in more then 130 countries and jurisdictions. AIG member companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. AIGs successful and growing global businesses also include financial services, retirement service and asset management. The reason I will outlined AIGs organization is to highlight the business and financial facts about the company. I would also like to highlight the following facts:AIG began in 1919 in Shanghai China1992, AIG was the first foreign organization to be granted an insurance license in China2003, AIG signed a groundbreaking agreement with PICC Property & CasualtyAs part of the agreement AIG acquires 9.9% of PICC P&Cs initial stock offering AIG is committed to the Cooperation with the PICCThis will also highlight the different types of risk AIG takes on and how reinsurance plays a part in managing the risk. The 3 major components of the General Insurance business are1. Domestic Brokerage GroupDBG writes substantially all classes of business insurance accepting such business mainly form insurance brokers. The provides DBG with the opportunity to select specialized markets and retain underwriting control. 2. Foreign General Insurance GroupAIGs Foreign General insurance group accepts risks primarily underwritten through American International Underwriters (AIU). AIU operates in Asia, the Pacific Rim, Europe, Africa, Middle East and Latin America. 3. Transatlantic Holdings, IncOffers reinsurance capacity and both Facultative and treaty basis. Transatlantic structures deals for both Property and Casualty business.Here is a listing of top 10 Chinese Companies by revenue for 2003. AIG is very large and with its global operation would rank highly as a Chinese insurance company. This is on a global basis, I placed this slide to demonstrate the size of AIG. In 2003 AIGs annual report identified the following50 million customers$9.3 billion in net income$71 billion in shareholders equity$678 billion in assetsThe reason I want to point this out is that you may or may not be aware of exactly how large the company is. It is a AAA rated company. Read SlideReinsurance is key to the AIG insurance strategy.Read SlideTo highlight some of the companies National Union provides Directors and officers, employment practices e-commerce liability insurance, professional liability and other related.American Home commercial umbrella liability insurance, workers compensationLexington Insurance Company - is an excess and surplus lines carrier for property and casualtyAIRM - provides Casualty risk management products and services to Fortune 1000Hartford Steam Boiler Boiler Inspection and Insurance company Overall DBG also includes many specialty business units including Aviation, transportation , construction energy industries, A&H and extensive Engineering services American International Underwriters is the companies overseas property casualty operations. AIUOA operates in over 70 countriesThis group writes both commercial and personal lines, many of the same type of products I described for DBGHow AIU does not take the DBG products and translate them for different countries, AIUs operations refine products in consideration of local Laws, local customs, and our customer needs.AIG feels that a standardized approach to the market provides the best opportunity to measure and analyze. These metrics and analysis are the basis for sales and marketing efforts. Client size and sophistication differ so their needs differ. By segmenting the market, the underwriting companies and divisions can respond to the clients needs Coverage to include the reinsurance structure for both treaty and facultativeServices front end service such as engineering/loss control and/or back end services such as claims or crisis management response ( kidnap negotiation response)Marketing the segmentation helps define the best way to approach the client companies.As you will note in the Market Segment slide, AIUO segments the market by Policy limits while DBG uses company sales. The reason for the differentiation is that AIUOs global operation requires a standardizing so that the business divisions can focus on that segment globally and set their strategy as well as Reinsurance lines. The DBG is operating mostly in the USA so this segmentation works for them. The Market Segment also allows AIG to differentiate the client data which makes it easier to analyze. This analysis provides the basis for marketing strategy, product selection, resource allocation as well as product development. Read the statement:The Reinsurance practice begins with the underwriter, I will cover AIGs Underwriting Best Practices to show the tie with ReinsuranceTraining is the best way to continue to move an organization toward the goal of being the best.AIG has many courses, however we have one training course called “Insurance Essentials Series” which is made up of 7 courses beginning with Insurance basics to Reinsurance Beyond the Basic. The courses are designed for Staff in preparation for professional designation exams. Training the right people to do the right thing gets the right results.The underwriting process includes four major steps:Determine acceptable risksDetermine that appropriate insurance coverage (terms and conditions)Determine the appropriate premium for the coverage (rates)Monitor each decision Claims reportsAdverse Selection and capacity impact the book of business. Reinsurance placement can assist with capacity and assist in smoothing out the results of adverse selection within a line of business. We Believe that Knowing and planning on how to deal with these 2 factors can be a competitive advantage. Maintaining underwriting standards provides a uniformity across the division or companys product line. Underwriting Authority Is reviewed on an annual basis and adjusted accordinglyUnderwriting Authority The authority granted is usually in accordance with the underwriting guidelines.The risks that are selected may not be perfect, the risk may have to be modified this can be done by:Change rates or policy limitsAdopting loss control/engineeringIncreasing the insureds retention level/Add or adjust the deductibleUse reinsurance to transfer unwanted risk (usually facultative)The underwriting guidelines for each company and line of business are located on the AIG employee internet site. This allows for consistency and ease of access to information for underwriters. This also includes the Reinsurance information such as approved companies, standard clauses, treaty and facultative information. Each underwriter has an authority level assigned that includes reinsurance standards. Having policies and guidelines can also save time and avoid duplication of efforts AIG has production goals for individuals, units and companies. Each of these has developed a strategy as to how to best meet these goalsSome of these strategies includeRaising the minimum premium accounts to be looked atEliminating a certain level/class of business that is losing moneyFocusing on high yield productsEnsuring that product pricing is adequateThe AIG underwriters are responsible for: ( read the list)To ensure that the entire book of business continues to be profitable and underwriter evaluates the following factorsLoss ratio of specific accountsLoss experience with specific coverageExpense ratio on the book of businessThe Combined ratio =( Loss ratio + Expense Ration) determines if the underwriters book of business is earning an underwriting profit. Each u/w is judged on his/her book performance. The AIG underwriters are responsible for the profitability of their book of business (which includes reinsurance responsibilities)Reinsurance is key to the underwriting, pricing and profitability of virtually all of AIGs insurance products. Therefore, reinsurance must be placed in accordance with requirements and guidelines specified within each Divisions Product Underwriting Guidelines and the Underwriters Authority Statement. The Reinsurance is included as one of the companies Risk Management Strategies. This is to protect the company from major losses and protect the balance sheet. Our Reinsurance Division calls it “sleep insurance”. The proper placement of this coverage allows them to sleep at night. When the underwriter analyzes a risk, they determine a need for reinsurance. They may not bind coverage without treaty reinsurance finalized or facultative reinsurance bound. The underwriter can search the AIG R/I website for treaties that may apply to their policy being considered.Underwriters that are using facultative reinsurers and intermediaries must check the AIG Approved Lists for both. So the underwriters are using the reinsurance, however the authority, policies, and guidelines are being set by the Reinsurance Department. Also note, underwriters are not allowed to bind inter-company reinsurance, except as specifically provided in the Underwriting Authority statement or Product Underwriting Guidelines. One of AIGs Best Practices is to hold the u/w responsible for the accuracy of all the treaty and facultative coding. This also protects the companies balance sheet. In my previous slides, I showed that the AIG underwriters are “production underwriters” under extreme pressure to make budget, however the company also realizes that the underwriters responsibilities run throughout the entire placement of the account. This is not fool proof, underwriters move, get promoted, etc, however AIGs Best Practice tries to balance the production requirements with the quality of the underwritten products. I will now cover the Reinsurance Department organization, operations, and highlight some of the policies and procedures. The reinsurance departments responsibilities are formally outlined and begin with the Mission Statement:Read Statement. There are many reasons why insurance companies fail. Some are common to other industries, such as inefficiency, inadequate pricing, etc. The commonest single case of failure amongst insurance companies, however, is an unprovided increase in their largest cost item Claims!The AIG Reinsurance Department develops the policies, procedures and guidelines for th