ACETempestReUSA.pptVIP

Ocean Marine Agenda Historical Perspective Global Premium Growth TrendsUSD billions Ocean Marine Global Premium2003 Geographic Split Global LOB Split2003USD Premium 14.83 Bn 2003 Detail Geographic Premium WrittenUS$ Bn Top Five Premium writers (by country) 1) United Kingdom – 2.426B 2) Japan – 2.083B 3) United States - 1.558B 4) Germany – 1.536B 5) France - 1.129B US PremiumUSD Bn US Premium Split by LOB2003 Lines of Business Cargo Bluewater Hull Brownwater Hull and PI Offshore Energy Marine Liabilities Yachts Cargo Bluewater Brownwater Hull and PI Brownwater Hull and PI Offshore Energy Liabilities Brief Description Yachts413 ft – “Octopus” 2003 CY Results – US MarketPremiums vs. Combined Ratio(USD Bn)   Recent Loss Activity Rigs in Path Of Ivan @ 9/15/04 Structures at 9/15/04 Ivan - Ensco 64 Ivan - Murphy Medusa Spar Petronius VK786 Recent Loss Activity Outlook Current Market Profitable in many classes Offshore and Yachts presented CAT losses in 2004 Quantitative Analysis Actuarial Cat Modeling ACE Tempest Re USA ACE Tempest Re USA Roger Howe, CPCU December 6th 2004 Ocean Marine Overview Lines of Business Results Recent Loss Activity Outlook Marine Insurance is the Oldest Form of Insurance 916 BC – Rhodians initiated the concept of General Average Bottomry Bonds 1688 – Lloyds First American Insurance Corporation 1792 Insurance Company of North America Source – IUMI 2004 Source – IUMI 2004 Source IUMI 2004 Source: IUMI 2004 Lines – Hull/Cargo/Liabilities/Offshore Energy Source: AIMU Calendar Year Operating Ratios Including Yachts (not included in IUMI numbers) Source: AIMU 2003 Source: AIMU 2003 Calendar Year Operating Ratios 2003 CY Results – US Cargo MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios 2003 CY Results – US Ocean Hull MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios 2003 CY Results – US All Other