Post on 26-Mar-2015
Distinctive. Choice.
JLT Investor SeminarIntroduction
Dominic Burke, CEO
Distinctive. Choice.
JLT Reinsurance Brokers LimitedAlan GriffinChairman & CEO
JLT Reinsurance Brokers Ltd
Risk & Insurance Employee Benefits
Jardine Lloyd Thompson Group
London Market
Jardine Lloyd Thompson Ltd
Specialty
Lloyd & Partners
Wholesale
JLT REReinsurance/
Aerospace
May 2009
Retail
Europe Australia& NZ
Latin America
CanadaAsia Insurance Management
JLT RE JLT AEROSPACE
Where we are today…
JLT Reinsurance Brokers Limited
(300)
JLT Re (205)JLT Aerospace
(75)Business
Research (20)
Europe (128)
Bermuda(2)
North America
(55)UK(58)
North America
(17)Asia(20)
Including staff numbers
Staff numbers
2006 2007 2008
Re 164 178 225
Aero 89 80 75
253 258 300
Revenue (£’000s)
2006 2007 2008
Re 31,462 29,515 33,206
Aero 15,982 14,524 15,627
47,444 44,038 48,834
2006 2007 2008
Re 2,755 8.8% 3,106 10.5% 4,218 12.7%
Aero 1,230 7.7% 1,521 10.5% 2,874 18.4%
3,985 8.4% 4,627 10.5% 7,092 14.5%
Trading profit and trading margin
Distinctive. Choice.
JLT Re
JLT Re Started Life as…
• A medium-size broking team imbedded in an insurance broking operation
• No recognised reinsurance brand
• Portfolio dominated by marine and energy business
• Lack of analytical and risk modelling capabilities
• Essentially, a London-based operation
JLT Re 2006 Portfolio
Non-Marine (24%)
Marine(61%)Aviation
(15%)
Estimated Global Market
Non-Marine (94%)
Marine (4%)
Aviation(2%)
JLT Re Strategic Plan 2006 – 2010
• Focus on risk and capital management, not just reinsurance/risk transfer
• Balanced business mix reflecting market opportunities• International brand• Single, client-centred global entity• Effective international network with “centres of
excellence” in key markets• Efficient business processes – a 21st century operation• Innovative advisory services and thought leadership
To date we have :
• Made a significant investment in analytical expertise
• Established a presence in USA/Bermuda• Established Non-Marine Treaty practice in
London through hires and acquisition of HWS
We continue to:
• Hire individuals/teams• Consider acquisitions
JLT Re Business Mix
24%
61%15%
33%
53%
14%
Marine Aviation Non-Marine
2006
2007
49% 40%
11%
2008
Estimated Global Market
Non-Marine (94%)
Marine (4%)Aviation (2%)
Distinctive. Choice.
JLT Aerospace
JLT Aerospace
• Acknowledged number 4 Broker in Class• Blue Chip client list
JLT Aerospace Clients
JLT Aerospace
• Acknowledged number 4 Broker in Class• Blue Chip client list• Opportunities for growth :
– Asia– USA– 2nd and 3rd tier operators, general aviation
Today
JLT Re & JLT Aerospace
Providing a real alternative
to clients.
Distinctive. Choice.
Lloyd & PartnersJohn Lloyd
Chairman & CEO
What is Lloyd & Partners?
• Wholesale brokerage firm providing specialised transactional / service solutions for independent brokers, worldwide but particularly in the USA and JLT retail operations, worldwide but particularly in Australasia / Canada and South America.
• Operating from London and Bermuda (JLT Park)
• 240 Staff: – London: 210
– Bermuda: 30
Key Disciplines:
• Energy & Marine
• Cargo, Fine Art &
Specie
• Property
• Casualty, Healthcare & Professional Lines
Property
22%
Energy & Marine
30%
Casualty, Healthcare & Professional
lines
26%
Cargo, Fine Art &
Specie
22%
“A sustainable growth story”
Achievement in last two years:• Acquisition of Park Ltd in
Bermuda to create more complete product offerings – Casualty, Financial Lines & Property.
• Strengthening Property capability with particular focus on mining industry. (3 hires)
• Creation of Fine, Art & Specie capability to add diversification to Cargo offering. (3 hires)
• Creation of facultative R/I capability to Energy team to create better value on premium handled. (3 hires)
• Acquisition of Craven & Partners to broaden Marine and Onshore Energy capability and more Cargo resource. (15 hires)
• Expansion of Property programme team to enhance capability. (2 hires, to date)
2007 2008
Revenue: £41.2 million Revenue: £47.1 million
Trading Margin: 17% Trading Margin: 17%
Goal is continued double digit top line growth
and improved trading margin.
“A sustainable growth story”
Distinctive. Choice.
Jardine Lloyd Thompson LtdMartin HillerCEO
JLTL Business Mix
• Marine Oil & Gas (25%)
• Natural Resources (12.5%)
• Construction (25%)
• Financial Risks (17.5%)
• GRS - Life Sciences, Telecoms & major accounts (10%)
• GCube (10%)
2006 2008 2008Actual Actual @ 06 ROE’s
Turnover £106.3m £119.0m £116.0m
Trading Profit £8.0m £19.5m £16.5m
Revenue Growth Initiatives
• New business• Facilities and higher commissions• Segment development / diversification• Investments
Segment Development / DiversificationConstruction• Latam• US Infrastructure• European contractors
GRS• Clinical trials• Global support• Non damage BI
Oil & Gas• Renewable Energy• International E&P• Offshore Construction
Financial Risks• Lawyers PI• Residual Value• Sport
Natural Resources• US Casualty• Latam• Renewable Energy
Marine• P&I• Special Risks• Power Barges
Investments
2008• Real Estate• Core Risks• Middle East &
North Africa• Retail Power• Transportation/Utilities
Future• GCube• Claims/Echelon• PI, E&O & D&O• GRS – Major
Accounts• Further Bolt-ons
Distinctive. Choice.
JLT Asia PacificBrian CarpenterChairman
Asia Trading Performance₤
2008: Revenue 40,608 +22.32%
Trading Profit 8,092 +16.40%
PBIT 8,384 +12.60%
4 Year Average Ratio
2005/08
Trading Ratio 20.17%
PBIT/Revenue 21.50%
JLT Asia
• Historically major P&C activities• 2008 review, introduction of specialties under
matrix structure• Objectives
– Grow business organically and through bolt-on acquisitions
– Reduce volatility– Focus on emerging wealth of Asia– Focus on products and services to the mass
populations and small to mid-corporates
Opportunities for JLT in Asia
• Private Client Services• Affinity• SME• Personal Lines• Financial Institutions
• Aviation• Capital and Political
Risks• Energy • Construction• Employee Benefits
Creation/Enhancement of specialist teams that focus on the Asian growth drivers
Affinity
• Short-term– Mixture of challenge and opportunity in the short-term
• Long-term – Growth opportunities within certain business lines– Delivering insurance products efficiently and effectively at
points of sale to support consumer purchases
• Opportunities– Insurance products to support motor vehicle sales and service
(China automobile market; Indonesia motorcycle market; extended warranty)
– China crop insurance– Personal Accident & Health
Aviation
• Expect significant increase in aircraft deliveries to Asia over next 20 years
• Asia is a leader in new aircraft orders• Aviation risks are transferred to insurance
market – no self insurance• JLT building regional capabilities to focus on
aviation and ancillary insurance
Energy
• Direct link between energy demand and population/economic growth
• Growth in energy demand and power generation in Asia: 6.9% CAGR in power generation forecast through 2018*
• Plans in place to develop high net worth energy products
• Asia upstream energy projects: 75 upstream projects with total value of USD104bn in next 5 years** *Source: BMI China Power Report Q1 2009
**Source: Energy Industries Council (EIC)
Employee Benefits
• Retirement consulting, administration and products– Ageing population low birth rates– Normal retirement age increasing– Trend away from DB to DC plans– Increasingly complex benefits structures
• Healthcare– Rising medical care costs; increase in “lifestyle” diseases– Ageing populations, health risks, new technologies,
pharmaceuticals, consumer demand– Government sponsored plans on the rise– Growing interest from employers in managing EB programs
effectively and economically
2008: $A
Revenue: 160,155 +9.7%
Trading Profit: 39,136 +3.8%
PBIT: 47,704 +5.1%
2005/08 Trading Ratio PBIT/Revenue
JLT 25.75% 30.95%
Marsh 11.95% 18.35%
2005/07
Aon 22.00% 29.40%
Willis 20.63% 25.26%
Australian Trading Performance
Strong Business Base
• Approximately 60% of PBIT is derived from non-transactional clients
• Government Instrumentalities– Provide insurance/risk
management services to over 90% of Australian local councils
– Administration of self-insured funds
– State and Federal entities
• Echelon Consultants– Claims management– Enterprise risk
management– Environmental risk
management– OHS/rehabilitation
services– Loss adjusting
Strong Business Base
• Affinity– Group schemes for sporting organisations, trade
associations and common interest groups– Developing opportunities with Trade Unions– Management of discretionary trusts– Employee benefits: life/health care
General Broking - Segments
• Corporate:– National new business structure– Recruitment of high profile executives– Culture transformation from transactional to business advisor– Investment in risk modelling software
• Natural Resources and Construction– New business team employed– Broader set of skills introduced to existing/new clients
General Broking - Segments
• SME:– Business re-engineering– Delivery channels– National centralisation– JLT Online opportunities
• Regional Network:– Expansion of offices in Townsville– New offices in Darwin/Gold Coast
Asia Pacific Summary
• Re-engineering existing key segments• Identified new products/segments• Recruiting specialists from
Brokers/Underwriters• Investing in training/education• Minimizing cost base• Seeking acquisitions
Distinctive. Choice.
International FlowsMark Drummond BradyInternational Chairman, Risk & Insurance
International Chairman’s Role
• Breaking down barriers – internal and withThe Market
• Developing collaboration throughout the Group• Managing and developing our Global Network• Expanding distribution and Global Flows• Promoting and defending the JLT brand
globally
International Collaboration - Brazil
• Early identification of seismic market shift• Selection of local partner / formation of JLT Re• Education of Markets / Lloyd’s obtains
reinsurance licence• Flows emanate from local retail operations to
local reinsurance office, to London and international markets
• Flows emanate from all over JLT Network™ to Brazil
JLT Network™
• Retail network – we also have Wholesale,
Reinsurance and Specialist businesses around
the world
• Owned offices: more than 100, in 36 countries
• Network partners in 120 countries
• Global Support Unit in London
• Network Managing Director
US Broker Sales Initiative
• JLT has long been a Champion for the independent sector
• London, Bermuda and International Markets for Wholesale and Surplus Lines
• The Network is a USP for JLT with brokers with international or multi-national clients
• Sales drive operates at all levels of the Group• 35% increase in sales in ’08, over ‘07
Distinctive. Choice.
JLT Investor SeminarA Sustainable Growth Story
JLT Latin America
Vyvienne WadeCEO
What is JLT Latin America?
Why is Latin America important to JLT?
JLT LATIN AMERICA
JLT Offices
JLT Brasil (Retail and Reinsurance), Rio de Janeiro
JLT Brasil (Retail and Reinsurance), São Paulo
JLT Mexico
JLT Corredores de Seguros & JLT
Valencia e Iragorri, Medellín
JLT Re Colombia, BogotáJLT Valencia e
Iragorri, Cali
JLT Corredores de Reaseguros, Lima
Mariateguí JLT Corredores de Seguros, Lima
Jardine Lloyd Thompson & Valencia e Iragorri, Bogotá
JLT do Brasil, Ribeirão Preto
Network Members
Kieffer & Associados SA,
La Paz
Prodese,
Quito
Corporacion Continental,
Panama
Risk Solutions Venezuela, Caracas
Seguransa Meta CA, Caracas
Risk Solutions Group, Santiago
Subsidiary Operations in 4 countries – Peru, Mexico, Colombia and Brazil. Network partners represent in the rest of the major economies in Latin America.
Middle Sea/AMR SA, Buenos Aires
OUR LATIN AMERICAN REGIONAL FINANCIAL STATISTICSfor subsidiary LATAM businesses
RETAIL REINSURANCE*All figures in £ ‘000’sOperation
Brazil PeruColombi
aMexico Peru
Colombia
LATAM REGION#
Rev. Actual ’07
Trading Profit ’07
Trading Margin ’07
2,265
261
11.5%
1,910
75
3.9%
4,783
413
8.6%
2,374
(923)
N/A
579
218
37.6%
4,164
1,309
31.4%
16,075
1,295
8.1%
Rev. Actual ’08
Trading Profit ’08
Trading Margin ’08
2,920
380
13%
2,584
321
12.5%
6,270
629
10%
2,628
(375)
N/A
1,061
315
29.7%
5,401
2,301
42.6%
20,864
3,603
17.3%
Headcount ’07
Headcount ’08
68
64
114
82
216
230
47
31
12
13
56
52
513
472
20
07
20
08
CONSOLIDATED
*JLT Brazil Re – new venture for 2008/2009 so not included in these numbers.
#There are one or two central adjustments so the consolidated number is not the simple sum of these 6 businesses.
JLT LATIN MARKET POSITIONS
Shareholder StructurePartnership with strong local minority long
term shareholder management partners
REGIONAL ECONOMIC ENVIRONMENTGrowth economics
GDP Growth Peru Brazil Mexico Colombia
2006 7.5% 3.7% 5.1% 6.9%
2007 9% 5.9% 3.3% 7.5%
2008 9.8% 5.1% 1.3% 2.5%
2009 (forecast) GDP 3.8% 3% (-4%) 2%
GDP 2008 US$129billion US$1.58 trillion
US$893billion US$242billion
Population 2008 28.4million 191million 106.7million 47.6million
Major Economic Sectors within Territories. All economies which have strong growth sector match with JLT SpecialismsPeru Brazil Mexico Colombia
ConstructionIndustry/Manufacture
Agriculture Industry/Manufacture
AgricultureAviation
Mining Construction Mining ConstructionIndustry/Manufacture
Oil & Gas Mining Oil & Gas MiningOil & Gas
Power Oil & GasPower
Telecoms PowerTransport/Roads/Infra
Tourism Telecoms Tourism Structure
JLT COLOMBIA
Market PositionJLT both a retailer and a facultative reinsurance broker in ColombiaLargest reinsurance broker & 4th largest retail broker
Operation
Rev. Actual ’07
Trading Profit ’07
Trading Margin ’07
Rev. Actual ’08
Trading Profit ’08
Trading Margin ’08
Headcount ’07
Headcount ’08
All figures in £ ‘000’s
JLT Areas of focus: Public Sector, Financial Institution, Construction, Utilities, Oil & Gas & Employment Benefits
JLT Opportunities: Construction, Oil, Aviation (General), Oil & Gas sector, Employment Benefits
Colombia
4,783
413
8.6%
6,270
629
10%
216
230
Colombia
4,164
1,309
31.4%
5,401
2,301
42%
56
52
RETAIL REINSURANCE
JLT MEXICO
Operation
Rev. Actual ’07
Trading Profit ’07
Trading Margin ’07
Rev. Actual ’08
Trading Profit ’08
Trading Margin ’08
Headcount ’07
Headcount ’08
Mexico
2,374
(923)
N/A
2,628
(375)
(N/A)
47
31Turn Around: Lost much major business in 2006/2007,rebuilding, good growth forecast for 2009 and a return to profitability.
Strategy: to seek a retail broking partner and to ‘leverage’ facultative reinsurance capability.
All figures in £ ‘000’sREINSURANCEJLT Position: A facultative reinsurance broker only focusing on complex risk with international placement requirements.
JLT Focus Areas: Aviation, Construction, Power & Industrial, complex risk.
Market Position: 6th or 7th largest in revenue terms.
JLT PERU
Operation
Rev. Actual ’07
Trading Profit ’07
Trading Margin ’07
Rev. Actual ’08
Trading Profit ’08
Trading Margin ’08
Headcount ’07
Headcount ’08
Peru
1,910
75
3.9%
2,584
321
12.5%
114
82
Peru
579
218
37.6%
1,061
315
29.7%
12
13
JLT Peru Retail Focus Areas: Employment Benefits, Mining, Construction, Power, Energy, Aviation.
JLT Peru Reinsurance Focus Areas: Mining, Construction, Power, Energy, Aviation.
Opportunities: Growing economy, government infrastructure investment, and inwards investment. Close working alliance between the retail and reinsurance businesses.
All figures in £ ‘000’s REINSURANCERETAIL
JLT Position: 3rd largest combined insurance/reinsurance broker: (2nd largest reinsurance broker, 3rd/4th largest insurance broker, largest Employment Benefits broker).
JLT BRAZIL
Operation
Rev. Actual ’07
Trading Profit ’07
Trading Margin ’07
Rev. Actual ’08
Trading Profit ’08
Trading Margin ’08
Headcount ’07
Headcount ’08
JLT Brazil Retail• Established for 20 years. Focus post opening of the
market on developing a strong retail business in Brazil. New MD recruited. JLT targeting both organic and acquisitiongrowth within its retail business.
• Focus areas: construction, agriculture (particularly ethanol/sugar) power, oil & gas, industrial and employee benefits.
• Opportunities: closer alignment with JLT reinsurance operation working together to win major accounts. Business sector areas for focus Construction, Oil & Gas, Power, together with Employee Benefits and potentially Online/Affinity.
JLT Brazil Reinsurance• A relatively new start up in Brazil combining previous partners. Strong first 9 months of
trading and already a market leader. • Focus areas: Construction, Oil & Gas, Treaty Reinsurance, aviation and specie. • Opportunities: new products – opening of the market, alignment with a stronger JLT retail
business in Brazil, Complex risk, Construction, Oil & Gas, Power.
Brazil
2,265
261
11.5%
2,920
380
13%
68
64
OpportunityLargest economy of South America: 191 million people: GDP US$1.58 trillionGrowing foreign investment: US$18 billion 2006; US$33 billion 2007; US$45 billion 2008.Opening of the reinsurance market, previous monopoly on reinsurance placements of IRB dismantled. Local admitted reinsurer ‘monopoly’ reduced to 60% in 2008, 40% in 2011 and 0% in 2012.
WHY LATIN AMERICA FOR JLT?
• Our subsidiary operations are strong profitable businesses in their own right with strong market positions within their own territory.
• JLT employees within Latin America are high calibre recognised professionals.
• The JLT Latin American shareholder structure – long term economic alignment between senior staff/local shareholders and JLT.
• The economies of the countries in which JLT has operations, are growing economies generally.
• The Latin America territories have economies which are growing in areas which coincide with JLT’s specialties: eg construction, mining, oil and energy, power, aviation, telecoms.
• Large complex risks and catastrophe exposures with limited local capacity give rise to business flows to JLT in London and Bermuda generating significant revenues.
• These are fully brokered insurance markets where the role of the broker is accepted and the norm.
• The middle class is growing within the Latin American territories which gives rise to good opportunities for employee benefits, affinity and potentially online insurance products.
• Brazil: opening of the reinsurance market – opportunities for new products in a very large economy in the most sophisticated insurance culture within the BRIC countries combined with economic growth potential thus providing many opportunities.
A sustainable growth story
Distinctive. Choice.
European RetailAdrian Girling
CEO
What do we do?
We are a Composite Broker, with business operating in two main areas:-
Division
Advisory
Clients
Full service, independent advice.
Mid market & Specialist Risks
Products
Complex Products.
Service delivery
Face to face with client.
Non advisory Single policies, no advice.
Individuals and SME’s
Simple Products. On line or Tele-sales and service.
European Retail - Income growth
40
45
50
55
60
65
70
2005 2006 2007 2008
£m’s
Last year’s financials
12%
Growth
on 2007
17%Trading Margin
11,116Trading Profit
67,242Revenue
Actual
2008£’000s
17%
10,302
60,051
Actual
2007
Geographic locations
• United Kingdom– Birmingham– Coventry– Gloucester– Leeds– Liverpool– London– Maidenhead– Manchester– Southampton
• Poland– Warsaw
• Ireland– Dublin– Cork
• Italy– Milan– Turin
• Spain– Madrid
• Norway– Oslo
• Sweden– Stockholm
Income breakdown
Schemes & Affinity
38%
Corporate33%
Personal Lines10%
Industry Specialist
19%
JLT Partnership Practice
• Accountants– JLT Corporate Recovery
• Lawyers– JLT Law
• Capital Providers– JLT Mergers & Acquisitions
Accountants
Lawyers Capital Providers
What have we done?
• We have continued to develop the existing brands
– Photoguard
– Cycleguard
– Musicguard
• How do customers find us?– http://www.google.co.uk
2008Growth year on year was
at 27%
JLT Online
Where do we want to go?
• We have added new products– Pets– Touring caravans
• We have entered the micro commercial market, defined by the DTI as having 1-9 employees
– Represents almost 25% of UK Business– Circa 1.4 million businesses within sector
• Target market generates gross premiums in excess of £1 billion
What have we done?
• We have launched a new brand called
• We have the fastest, fully transactional web site, targeting the sector
– http://www.insurantz.com
What have we done?
• We have launched a new brand called
• We have the fastest, fully transactional web site, targeting the sector
– http://www.insurantz.com
• We are now planning launches into Italy and Ireland
In conclusion
• This business has a new business culture where we retain around 93% of our clients
• We are exposed to the Economic pressures but we have some counter cyclical business
• We are targetting further organic growth and have some exciting opportunuities– JLTOnline– Partnership Practice
• We believe that there is opportunity to improve margin
Distinctive. Choice.
UK Employee Benefits GroupDuncan Howorth
CEO
Agenda
• UK Employee Benefits Group – a brief overview
• Market trends – Defined Benefits
• Market trends – Defined Contribution
• BenPal – The future for management of employee benefits programmes
The Employee Benefits business has increased revenues by 72% since 2003.
It makes a very significant contribution to the Group’s financial results and contributes 16% of the Group’s turnover.
0
20
40
60
80
100
2004 2005 2006 2007 20080%
5%
10%
15%
20%Turnover £M Trading margin %
14%
16%17%
£59m £71m £76m
17%
£81m £88m
17%
UK Employee Benefits – key data
UK Employee Benefits – an overview
• Pension consulting
• Actuarial consulting
• Investment Consulting
• Flexible Benefits
• Healthcare, Life and Income Protection
• Annuity purchases
• Private Clients
• Defined Benefits
• Defined Contribution
• Pension and Annuity payment
• Flexible Benefits
• SIPPs and Group SIPPs
• Independent Trusteeship
• Risk and control management
• Data integrity
• Operational consulting
• Administration
• Accounting
• Web delivery
• Contribution modelling
• Flexible Benefits
• Employee Benefits
Advice Outsourcing Governance Systems/Technology
Market trends – Defined Benefits
Pensions has become a boardroom issue with deficit and liability management and reduction key issues.
Schemes close to new joiners
Cessation of all accrual
Investment strategy
Buy out options
Longevity hedging
The existing DB market comprised 7,400 schemes with assets of £772 billion. Capital to support buy outs is less than 5% of this. Other forms of risk management and transfer will need to form part of long term run off.
Aggregate deficit of FTSE 250 stood at £50 billion @ 31st March 2009 according to research conducted by Pension Capital Strategies, a JLT Company. But the true number may be nearer £200bn when bond spreads return to more normal levels.
Market trends – Defined Contribution
• Scheme structure and management cost.
• Internal promotion
• Investment options
• Auto enrolment and Personal Accounts
• Governance frameworks
• Member education
• Charges
• Investment options
• Auto enrolment
• Increased delivery
• Member “advice”
• Investment structures
• Communication strategies.
Employer focus Regulator focus Market solutions
After the initial establishment of DC schemes in response to Defined Benefit closure, attention is now turning to long term development of these schemes
Distinctive. Choice.
Online BenefitsJim Carlton
MD
SINGLE DATABASESINGLE ADMINISTRATION PLATFORM
UKRisk
UKHealth
UKPension
PensionModeller
RewardPack
FlexBens
CoverEx-UK
Employer Zone
Employee Interface
Provider Zone
Dashboard
Dashboard
Dashboard
Funds
Dashboard
Modeller
Dashboard
Reward
Dashboard
Flex
Dashboard
Mobile
Dashboard
Employers
Why choose BenPal?
Reduce costsby outsourcing benefits admin
Convertoffline Trust DC
to online GPPReduce NI costswith salary sacrifice
Empoweremployees in UK and internationally
Reduce costsby rationalising legacy schemes
Reduce costswith No-Fee option
Aggregateall UK benefits on one platform
Improveproductivity in
HR/Finance/Mgt
BenPal and JLT
More servicesto existing clients
New clientsfrom different sectors
Unique pension/benefits
solution
Revenuemix of commissions
& recurring fees
Scale with same headcount
‘Sticky’ business
EmpowerJLT international
offices
Alternativeto
Personal Accounts
Technology-only option
Deploy key elements of BenPal systemGive members a personalised experience
Revitalise engagement with existing benefits
EMPLOYEE ENGAGEMENT SOFTWARE
Company intranet or New pension microsite
PENSION PLANOnline EnrolmentFund Valuations
Automated Messaging
PENSION MODELLERInteractive Tool
Pre-populated DataDB/DC/Contract Plans
Deployment across JLT
R&HPension
R&HPension
R&H
R&H
R&H
Admin
Reward
Flex
Reward Flex
Personal Account from 2012
ONLINEONLINE ✓✓AUTO ENROLMENTAUTO ENROLMENT ✓✓ ✓✓
✓✓MEMBER CHARGE (AMC)MEMBER CHARGE (AMC) 0.5% (est)0.5% (est) 0.35%- 0.85%0.35%- 0.85%
TYPE OF SCHEMETYPE OF SCHEME Generic plan“Largest ever Trust scheme”
Generic plan“Largest ever Trust scheme”
Customised planFits each company profile
Customised planFits each company profile
SALARY SACRIFICESALARY SACRIFICE ✗✗ ✓ ✓
INTEGRATED BENEFITSINTEGRATED BENEFITS ✗✗ ✓✓
“A COST”“A COST” “AN INVESTMENT”“AN INVESTMENT”
PERSONAL ACCOUNTPERSONAL ACCOUNT
Distinctive. Choice.
Internationalisation of Employee Benefits
William Nabarro
International Chairman, EB
Developing Employee Benefits Internationally
The Approach
• Actions: this year....
• Actions: ....and next
• Measures of success
Developing Employee Benefits Internationally
The Approach
• Adding value through collaboration
• Without complicating the management structure
• Progressing through projects
Developing Employee Benefits Internationally
Actions; this year....
• Clarify what we have
• Engage all EB professionals
• Create marketing and internal communications networks
• Convert the immediate wins
• Utilise the BenPal investment
Developing Employee Benefits Internationally
Actions; .....and next
• Global network serving multi-national clients
• Integrated international healthcare offering
• Sharing facilities
• Review segmental accounting
Developing Employee Benefits Internationally
Measures of success
• Marketplace standing
• Top line benefit
• Efficiency and quality of delivery
• More broadly based, integrated business
20th May 2009 102
JLT Investor SeminarJames Gerry, Thistle Underwriters
Principal aims
• Portfolio Underwriting
• Change the Business Model
A tangible difference
• MGAs - What went wrong?
• MGU- End-to-end service
- Profit-driven remuneration model
- Front edge systems
- Data capture & utilisation
Defining the opportunity
• UK start; global ambitions
• JLT's embedded business
• Non-JLT brokers
• Target client base is growing
• Acquisitions
Distinctive. Choice.
JLT Investor SeminarA Sustainable Growth Story