Annual Motor Insurance Seminar Gearing up for the future

Annual Motor

Insurance Seminar

Tuesday 18 November 2014

Conrad Hotel, Dublin

Gearing up for

the future

Glenn Gillard

Partner, Head of Insurance

Nov

2013

Apr

2014 July

2015 Sept

2014

Nov

2014

New penalty

Points

Periodic Payment

Orders

New Reserving

Requirements

Severity

Frequency Spending

power

Cost

Volumes

Periodical Payment Orders

Deloitte Motor Insurance Seminar 2014 8

I

Source: Motor insurance seminar 2014 survey results

UK Registration survey results - Issues

Periodical Payment Orders


I

Source: Motor insurance seminar 2014 survey results

UK Registration survey results - Issues

Rob McGowan

Senior Manager, Deloitte UK

Periodic Payment Orders

Periodical Payment Orders The Background


• Common since 2008

Followed from Courts Act 2003 implemented in 2005

• Serious injuries

• Cost of Care

• Paid until death

Regular payments

• ASHE 6115

Indexed

• Also other liability

Mainly motor insurers

0

5

10

15

20

25

30

35

40

Q1 2003 Q1 2004 Q1 2005 Q1 2006 Q1 2007 Q1 2008 Q1 2009 Q1 2010 Q1 2011 Q1 2012

Nu

mb

er

of

PP

O S

ett

lem

en

ts

Quarter

Periodical Payment Orders The Past – Quarterly PPO Settlements


Source: PPO Working Party – GIRO Report 2013, January 2014

Periodical Payment Orders The Future – Our Base Scenario Assumptions


Parameter Assumption

Number of Settlements 84 p.a.

Claimant Age

Male to Female Ratio 2 to 1

Annual Payment (£000’s)

Lump Sum (£m)

Annuity Frequency Quarterly

Base Mortality Table Ogden 7th Edition

Mortality Loading

Future Inflation 3.50%

Nominal Discount Rate 3.50%

Periodical Payment Orders The Future – Our Base Scenario – Reserves as at 2024


£ M

illio

ns

Age of Claimant (as at 2024)

0

5

10

15

20

25

30

35

0 20 40 60 80 100 120

Gross discounted settled PPO reserves by Claimant Age

Source: Deloitte Analytics

0

2

4

6

8

10

12

14

16

2013 2015 2017 2019 2021 2023 2025 2027 2029 2031 2033 2035 2037 2039

Gross discounted settled PPO reserves

£ B

illio

ns

Periodical Payment Orders The Future – Our Base Scenario


Financial Year


Periodical Payment Orders The Future – Some Alternatives


Parameter Base Scenario Scenario 2 Scenario 3 Scenario 4 Scenario 5

Number of

Settlements 84 p.a.

48 p.a (2017)

Claimant Age

Male to Female Ratio 2 to 1

Annual Payment

(£000’s)

Lump Sum (£m)

Annuity Frequency Quarterly

Base Mortality Table Ogden 7th Edition

Mortality Loading 300% 500%

Future Inflation 3.50% 4.50%

Nominal Discount

Rate 3.50%

-40%

-30%

-20%

-10%

0%

10%

20%

30%

40%

50%

60%

2013

Base Scenario 300% Mortality Loading 500% Mortality Loading

4.5% future inflation 48 settlements p.a. (2017)

Periodical Payment Orders The Future – Some Alternatives


Dif

fere

nc

e in

Re

se

rve

s c

om

pa

red

to B

as

e S

ce

na

rio

(%

)

Year

2020 2030 2040


Periodical Payment Orders The Future – New Complexities


Patchwork Quilt

100%

It used to be simple

Indexation

Indexation

IndexationCapitalisation

Clauses

Capitalisation

Clauses

Capitalisation

Clauses

Periodical Payment Orders The Future – New Complexities


Solvency II

Government

Intervention

Capitalisation

Clauses

Indexation

Indexation

Capitalisation

Clauses

Ogden

Discount

Rate

Impaired

Annuity

Market

Crashless

Society

Capitalisation

Clauses

Indexation

Payment in

Kind

Economic

Markets

Eimear McCarthy

Partner, Insurance

Talent in Insurance

Lead and develop

Leaders at all levels: Close the gap

between hype and readiness

Corporate learning redefined:

Prepare for a revolution

Performance management is broken:

Replace “rank and yank” with

coaching and development

The quest for workforce capability:

Create a global skills supply chain

Transform and reinvent

The reskilled HR team: Transform HR

professionals into skilled business

consultants

Talent analytics in practice: Go from

talking to delivering on big data

Race to the cloud: Integrate talent, HR,

and business technologies

The global and local HR function:

Balance scale and agility

Attract and engage

Talent acquisition revisited: Deploy

new approaches for the new

battlefield

Beyond retention: Build passion and

purpose

From diversity to inclusion: Move

from compliance to diversity as a

business strategy

The overwhelmed employee:

Simplify the work environment

This year’s 12 critical human capital trends are organised into

three broad themes

The 12 Key Human Capital Trends

49%

Somewhat Ready = 50%

62%

Important = 66.6%

Importance

Readiness

Irish Results

By 2025, Millennials will account for 75% of the global workforce

We want organisations to develop our leadership

skills early in our careers

We want to work for organisations that foster innovative thinking

We want to make a positive contribution to society and work for organisations that

care about tackling bigger issues (e.g. climate change)

Millenials have different employer expectations….

Move beyond retention

Build passion and purpose in the workforce

The (un)popularity of insurance

Addressing the perception of a career in insurance

Globally, insurance is ranked 18th out of 30

industry sectors for business students

Insurers are battling with the fast moving

consumer goods, software and computer

services

Despite importance of insurance in society

graduates know relatively little about insurers

Dispelling the image of the “men in grey suits”

The sector has a boring and old-fashioned image that

attracts students who are comfortable with it. Insurers must

change their image…

Changing the perception of insurance

Is the industry attracting the right people?

Individuals who

may become the

insurance leaders

of tomorrow do not

appear to have the

right mindset…”

Goals and attributes of the Insurance-inclined…

• Security, stability and job security

• Willingness to trade off work-life balance

• Remuneration and advancement opportunities rate highly

for insurance (and business) students

• Survey found “innovation” is less attractive to insurance

inclined students

• Do not display an inclination for creativity

• Lack of desire for international travel

Changing the perception of insurance

Action is needed to make sure insurance companies are

attracting and retaining the right students

Insurers must work

together, with

industry bodies and

universities, as

appropriate to

promote insurance

as a career…and

correct the

misperception that

it (insurance) is dull

and unexciting

Promoting Insurance As a Career –

Steps to addressing the problems

1. Raise the profile of insurance

2. Build insurers campus presence

3. Attract more women

4. Attract students with the right mind-set

5. Modernise development programmes

6. Market international opportunities

Thought Leadership

Our detailed reports:

http://www2.deloitte.com/ie/en/pages/human-capital/articles/human-capital-trends-2014-ireland.html

http://www.deloitte.com/assets/Dcom-UnitedKingdom/Local Assets/Documents/Industries/Financial Services/uk-fs-Talent-in-insurance-global.pdf

Cormac Hennessy

Senior Manager, Insurance Analytics

Statistical review

Data Sources • INCA, Risk Intelligence Ireland • An Garda Síochána Traffic Statistics • Central Statistics Office (CSO) • Department of Transport, Tourism and Sport • RSA Road Collision Factbook 2012 with provisional updates to certain tables for 2013 • Responses to on-line survey issued with invitation • "On the day" interactive survey responses from seminar attendees

• Data is derived from Forms 2 (net) and 8 (gross) where appropriate.• All data used is on a calender year (accounting) basis as per forms.• Market share is based on Net Written Premiums.• Adjustments are made to some companies data (Zurich & RSA). • Claims Ratio = Cost of Claims Incurred / Earned Premium Income• Expense Ratio = Management Expenses / NWP• Commission Ratio = Commissions / NWP• Combined Operating Ratio (COR) = Claims Ratio + Expense Ratio + Commission Ratio • Underwriting Result = Total Income - Total Outgoing• Insurance Result = Underwriting Result + Investment Income

Definitions

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

0K

500K

1000K

1500K

2000K

2500K

3000K

3500K

4000K

+Premium Income

Market Premium Year of Date1999 to 2013

LOBTreaty Reinsurance

Credit and Suretyship

Marine Aviation Transit

Other Classes

Accident and Health

Liability

Fire and Property

Motor

Date

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

-0.06

-0.04

-0.02

0.00

0.02

0.04

0.06

0.08

0.10

0.12

0.14

Value 4.3% 3.9%

4.4% 4.6%

4.5% 4.4%

4.5%

4.7%

6.4%

12.0%

13.9%14.6% 14.7%

13.1%

3.7% 3.7%2.9%

1.9% 2.1%

3.6% 4.6%4.0%

-4.6%

-0.9%

2.5%

1.7%

0.5%0.02%

-1.89%

-0.53%

0.47%

-0.69%

5.31%

5.85%

2.98%

4.63%

5.70% 5.47%4.90%

-2.69%

-6.39%

-0.30%

2.79%

-0.30%

0.18%

Economic Year of Date2000 to 2013

Measure NamesGDP Growth Rate

Average Weekly Earnin..

Inflation Rate

Unemployment Rate

Date

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

0%

20%

40%

60%

80%

100%

120%

COR

120%

115%

104%100%

115%

110%

101%

111%

116%

91%

84%81% 82% 82%

11%

10%

10%

10%

11%

12%

11% 12%

12%

12%

79%

13%

12%13%

12%

11%

11%

10%

13%14% 14% 16%

18%

18%

20%

21%

27%

23%

99%95%

83%

71%

61%56% 57% 55%

70%

85%78%

66%72%

8%

Market COR Year of Date1999 to 2013

Measure NamesCommission Ratio

Expense Ratio

Claims Ratio

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

-400K

-200K

0K

200K

400K

600K

800K

1000K

1200K

Result on Technical Account

-400K

-200K

0K

200K

400K

600K

800K

1000K

1200K

Underwriting Profit/Loss

Market Results Year of Date1999 to 2013

Measure NamesResult on Technical Acc..


Date

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

% of Total +Premium Income ADJUSTED

10%

10%

10%

11%

10% 11% 14%

11%12%

10% 11% 13% 11% 10%

10%

17%

10% 10% 10%11%

12%13%

11% 11%

11%10% 11% 13%

10%

12%

15%

18%

19% 18%12%

14%

23% 23%17%

22% 20% 19% 21% 20% 19%

10%

15% 15% 15% 16% 14%

17% 20%23% 20%

19%17% 11% 11%

10%

11%

10%11%

11% 12%

15% 14%

15%13%

12% 10%10% 10%

5% 4% 5%9% 9%

3%3% 3%

3%

3% 3%4% 6%4%

5% 6%8%

8%

3%

8% 7%7%8% 9%

9%

8%8%

8% 8%

9%6%

7%

8% 8%

9%

7% 6%

9%9%

9%9% 9% 9%

9%8%

8%8% 9%

80%

Market Share Stacked Year of Date1999 to 2013

Insurer (group)Others

Travelers

I P B

AIG

Liberty \ Quinn

Zurich

Allianz

AXA Insurance

FBD

RSA Insurance

Aviva

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

0%

5%

10%

15%

20%


Market Share Year of Date1999 to 2013

Insurer (group)AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

Others

RSA Insurance

Travelers

Zurich

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

0K

200K

400K

600K

800K

1000K

1200K

1400K

1600K

1800K

+Premium Income ADJUSTED

LoB Premium Year of Date1999 to 2013

2007 2008 2009 2010 2011 2012 2013Year of Date

0K

500K

1000K

1500K

2000K

2500K

Total

2,441,564 2,434,822

2,467,6602,497,576

2,403,223

2,425,1562,482,557

Vehicle Volume

Date (CPI)

2007 2008 2009 2010 2011 2012 2013

€0

€100

€200

€300

€400

€500

€600

Average Premium

0

10

20

30

40

50

60

70

80

90

100

Avg. Motor Insurance Consumer Price Index (Base Dec 2011=100)

€535€535

€610

€441

€558

€476 €475

94.1091.10

95.20

82.20

102.40

96.90

87.70

Ave Premium Measure NamesAverage Premium

Avg. Motor Insurance C..

Date

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%


90.00%

LoB Share Stacked Year of Date1999 to 2013

Insurer (group)Others

I P B

Travelers

AIG

Zurich

Allianz

Liberty \ Quinn

FBD

RSA Insurance

Aviva

AXA Insurance

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

0%

5%

10%

15%

20%

25%


LoB Share Year of Date1999 to 2013

Insurer (group)AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

RSA Insurance

Travelers

Zurich

Others

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

0K

200K

400K

600K

800K

1000K

1200K

1400K

1600K

=Cost of Claims Incurred

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

110%

Claims Ratio

110%

75%

74% 73%

85%87%

70%

87%

56%58%

98%

66%

64%

94%

LoB Claims Cost Year of Date1999 to 2013

Measure Names=Cost of Claims Incurred

Claims Ratio

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

0K

200K

400K

600K

800K

1000K

1200K

1400K

1600K

=Cost of Claims Incurred ADJUSTED

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

110%

Claims Ratio (ADJUSTED)

110%

75%

74%73%

80%

69%

98%

67%

66%

56%

87% 87%

64%

58%

LoB Claims Cost Adjusted Year of Date1999 to 2013

Measure Names=Cost of Claims Incurre..

Claims Ratio (ADJUSTE..

2007 2008 2009 2010 2011 2012 2013Year of Origin

€0

€1,000

€2,000

€3,000

€4,000

Current ACPC

-10%

0%

10%

20%

30%

% Difference in Initial ACPC

€0

€1,000

€2,000

€3,000

€4,000

Initial ACPC

€4,685

€4,045

€3,151

€3,113

€3,052€3,009

€4,321

€3,505€3,452

€4,321€3,844

€3,908

€2,993 €2,996

2%

28%

0%-2%

11%

-13%

Severity Year of Origin2006 to 2013

CompanyAIG

Allianz Corporate Ireland

Aviva Insurance

AXA Insurance

FBD

Liberty Insurance Limited

Quinn Insurance (under ..

RSA Insurance

Zurich

Zurich Ireland

Measure NamesCurrent ACPC

Initial ACPC

% Difference in Initial A..

2007 2008 2009 2010 2011 2012 2013Year of Origin

0.0%

5.0%

10.0%

Frequency

-1.0%

-0.5%

0.0%

0.5%

Difference in Frequency

11.5%11.8%

12.8%

9.7%10.2%

12.5%

9.9%

-0.3%-0.3%

0.7%

-1.3%

0.3%

-1.3%

Frequency Year of Origin2006 to 2013

CompanyAIG

Allianz Corporate Ireland

Aviva Insurance

AXA Insurance

FBD

Liberty Insurance Limited

Quinn Insurance (under ..

RSA Insurance

Zurich

Zurich Ireland

Year of Date

2007 2008 2009 2010 2011 2012 2013

0K

100K

200K

300K

400K

500K

Count

Traffic Offence Stats Year of Date2007 to 2013

OffenceOther

Road Transport

Dangerous Driving

DWI

Seat Belt

Vehicles Detained

Mobile

Speeding

Source: Garda Traffic Statistics

Year

2011 2012 2013

0K

100K

200K

300K

400K

500K

600K

700K

800K

900K

1000K

Count

10%

11%

10%

10%

71%72%

74%

6%

6%

5%

9%

8%

Penalty Point Reasons Offence Type (group)DUI

Use vehicle without NCT..

No insurance - (user)

Seat Belt

Driving

Driving a vehicle while h..

Speeding

Source: Road Safety Authority

County

1.00% 2.00% 3.00% 4.00% 5.00% 6.00% 7.00% 8.00% 9.00% 10.00%11.00% 12.00%13.00%14.00%15.00% 16.00%17.00%18.00% 19.00%20.00%21.00%22.00% 23.00%24.00%25.00%% of Drivers with Penalty Points

KILDARE

CLARE

WICKLOW

LONGFORD

MEATH

LIMERICK

ROSCOMMON

KILKENNY

WESTMEATH

DUBLIN

LEITRIM

CARLOW

SLIGO

WATERFORD

LOUTH

WEXFORD

LAOIS

CORK

OFFALY

CAVAN

TIPPERARY

GALWAY

KERRY

MAYO

MONAGHAN

DONEGAL

23.6%

23.6%

23.4%

22.3%

21.8%

21.5%

21.0%

20.6%

20.5%

19.9%

19.8%

19.7%

19.1%

18.9%

18.6%

18.4%

18.0%

18.0%

17.9%

17.9%

17.8%

17.0%

16.0%

14.4%

14.2%

13.4% Average

% of Drivers with Points

County

0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 0.55 0.60 0.65 0.70 0.75 0.80 0.85 0.90 0.95Points per Driver

KILDARE

WICKLOW

CLARE

KILKENNY

MEATH

LONGFORD

WEXFORD

DUBLIN

LIMERICK

ROSCOMMON

SLIGO

CARLOW

WATERFORD

WESTMEATH

LEITRIM

LAOIS

CAVAN

LOUTH

OFFALY

TIPPERARY

CORK

GALWAY

KERRY

MONAGHAN

MAYO

DONEGAL

0.75

0.75

0.65

0.65

0.89

0.58

0.49

0.48

0.83

0.77

0.73

0.66

0.90

0.80

0.70

0.70

0.50

0.74

0.74

0.74

0.64

0.62

0.62

0.52

0.81

0.71

Average

Ave Points per Licence

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

0%

50%

100%

150%

200%

250%

300%

350%

400%

Reserve to Claim Paid Ratio

309%

191%

279%

419%

271%271% 268%

349%

260% 256%

396%

396%

395%

250%

Claims Reserve to Paid Ratio Year of Date1999 to 2013

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110% 120% 130% 140% 150% 160% 170% 180% 190%Claims Ratio

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%


AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

Others

RSA Insurance

Travelers

Zurich

Industry

LoB Claims vs Market Share Insurer (group)AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

Others

RSA Insurance

Travelers

Zurich

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110% 120% 130% 140% 150% 160% 170% 180% 190%Claims Ratio

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%


2013

2012

20112012

2011

2013

2013

2011

2013

2012 2011

2011

2011

2012

2012

2011

2011

2013

2013

2012

2012

2011

2013

2012

2013

2012

2013

2011

201220132011

LoB Claims vs Market Share YoY Insurer (group)AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

RSA Insurance

Zurich

Travelers

Others

0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 32% 34% 36%Expense Ratio

0K

5K

10K

15K

20K

25K

30K

35K

40K

+Management Expenses

AXA InsuranceFBD

Aviva

Liberty \ Quinn

RSA Insurance

Allianz

Zurich

AIG

TravelersOthers I P B

Industry

Average

LoB Expenses Insurer (group)AXA Insurance

FBD

Aviva

Liberty \ Quinn

RSA Insurance

Allianz

Zurich

AIG

Travelers

Others

I P B

0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20% 22% 24% 26% 28% 30% 32% 34% 36%Expense Ratio

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%


AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

RSA Insurance

Travelers

Zurich

OthersIndustry

LoB Expense vs Market Share Insurer (group)AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

RSA Insurance

Travelers

Zurich

Others

0% 5% 10% 15% 20% 25% 30% 35% 40% 45%Non-Claims Cost Ratio

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%


AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

RSA Insurance

Travelers

Zurich

OthersTotal

LoB Exp+Com vs Market Share Insurer (group)AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

RSA Insurance

Travelers

Zurich

Others

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 110%Non-Claims Cost Ratio

0%

2%

4%

6%

8%

10%

12%

14%

16%

18%

20%

22%


2013

2012

20112012

2011

2013

2013

2011

2012

2013

2013

20122011

2011

2011

2012

2012

2011

2011

2013

2013

2012

2012

2011

2013

2012

2013

2012

2013

2011

201220132011

LoB Exp+Com vs Market Share YoY Insurer (group)AIG

Allianz

Aviva

AXA Insurance

FBD

I P B

Liberty \ Quinn

RSA Insurance

Travelers

Zurich

Others

Date

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

0%

20%

40%

60%

80%

100%

120%

COR

125%

112%

101% 101%

110% 111%

102%

108%

123%

89%

82%

75%

85%

79%

110%

16%

87%

74%

64%56%

66%58%

75%

87% 85%

70% 73%

11%

10%

10%

10%

13%

14%

15%

94%

20%

17% 19%

24%27%

21%

98%

5%

4%

5%

5%

5%

5%

5%

6% 7%

8%

8%

8%

4%

LoB COR Year of Date1999 to 2013

Measure NamesCommission Ratio

Expense Ratio

Claims Ratio

Year of Date

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

0%

20%

40%

60%

80%

100%

120%

COR (ADJUSTED)

125%

112%

101% 101%

110%

105%101%

89%

82%

75%

85%

79%

97%99%

110%

16%

87%

74%

64%56%

66%58%

75%

87%80%

67% 69%

11%

10%

10%

10%

13%

14%

15%

73%

20%

17%

18%

22%22%

20%

98%

5%

4%

5%

5%

5%

5%

5%

6%

7%

8%7%

8%

4%

LoB COR Adjusted Year of Date1999 to 2013

Measure NamesCommission Ratio (ADJ..

Expense Ratio (ADJUS..

Claims Ratio (ADJUSTE..

COR (ADJUSTED)

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013Year of Date

-400K

-300K

-200K

-100K

0K

100K

200K

300K

400K

500K

600K

700K

Result on Technical Account

-400K

-300K

-200K

-100K

0K

100K

200K

300K

400K

500K

600K

700K


LoB Result Year of Date1999 to 2013

Measure NamesResult on Technical Acc..


Glenn Gillard

Some final thoughts…

36

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a private company limited by guarantee, and its network of member firms, each of which

is a legally separate and independent entity. Please see www.deloitte.com/ie/about for a detailed description of the legal structure of Deloitte Touche

Tohmatsu Limited and its member firms.

Deloitte’s 2,000 people in Ireland provide audit, tax, consulting, and corporate finance to public and private clients spanning multiple industries. With a globally

connected network of member firms in more than 150 countries, Deloitte brings world-class capabilities and high-quality service to clients, delivering the

insights they need to address their most complex business challenges. Deloitte’s approximately 200,000 professionals are comm itted to becoming the

standard of excellence.

This publication contains general information only, and none of Deloitte Touche Tohmatsu Limited, Deloitte Global Services Limited, Deloitte Global Services

Holdings Limited, the Deloitte Touche Tohmatsu Verein, any of their member firms, or any of the foregoing’s affiliates (collectively the “Deloitte Network”) are,

by means of this publication, rendering accounting, business, financial, investment, legal, tax, or other professional advice or services. This publication is not a

substitute for such professional advice or services, nor should it be used as a basis for any decision or action that may affect your finances or your business.

Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity

in the Deloitte Network shall be responsible for any loss whatsoever sustained by any person who relies on this publication.

© 2014 Deloitte & Touche. All rights reserved

Annual Motor Insurance Seminar Gearing up for the future

Documents

Transcript of Annual Motor Insurance Seminar Gearing up for the future