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FERMA 11 October 2006 Jean-Paul RIGNAULT 2
GlobalizationGlobalization
Globalization brings Efficiency and Prosperity:
Powerful interaction of financial liberalization,information technology and overseas markets
Investments in business development to attractnew clients segments (AXA China Region), highlyskilled human resources and / or attractive labor cost (AXA Business Services, Bangalore)
But it also carries news risks to be managed at theinternational, regional and domestic levels
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FERMA 11 October 2006 Jean-Paul RIGNAULT 3
112.6112.3 115.6
177.0
219.5
85.7
67.9
13.9
53.0
3.6
6.5
0
50
100
150
200
250
2000 2001 2002 2003 2004 2005
Tankers >=1,000dwt Bulk Carriers >=10,000dwt LNG/LPG CarriersContainer Vessels >=5,000dwt Others (of which Passenger Vessels >=1,000grt) General cargo (>= 300gt)
in million DWT
Source: Indicators issued from various sources such as ISL Bremen for World fleet and trading figuresand Clarkson Research Studies for shipbuilding and scrapped vessels.
Globalization : an exampleGlobalization : an example
Shipbuilding order book by type of shipShipbuilding order book by type of ship
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FERMA 11 October 2006 Jean-Paul RIGNAULT 4Source: Clarkson Research Studies for shipbuilding and scrapped vessels.
0%
5%
10%
15%
20%
25%
30%
35%40%
45%
50%
1 9 7 5
1 9 7 7
1 9 7 9
1 9 8 1
1 9 8 3
1 9 8 5
1 9 8 7
1 9 8 9
1 9 9 1
1 9 9 3
1 9 9 5
1 9 9 7
1 9 9 9
2 0 0 1
2 0 0 3
2 0 0 5
% C G T D e l
i v e r
i e s
Japan
Europe
Korea
China
Others
Globalization : an exampleGlobalization : an example
Shipbuilding share of deliveriesShipbuilding share of deliveries
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FERMA 11 October 2006 Jean-Paul RIGNAULT 5
0
2
4
6
8
10
12
14
16
18
20
Billions USD
1999 2000 2001 2002 2003 2004 2005
Hull, Cargo, Liability incl. P&I, Energy
A sustained development in line with the international trade fast growthworldwide premium income
Source: IUMI
New modern and well protectedplants (CAR / EAR, Property, )
Increased volumes (tiv / property,sales / liability, )
Globalization : an exampleGlobalization : an example
Marine insurance marketMarine insurance market
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FERMA 11 October 2006 Jean-Paul RIGNAULT 6
New Business Opportunities
Evolution in Business ModelNew TerritoriesNew Customers
New Cultures Still increasing New Risks
Management of Complexity
GlobalizationGlobalization
EveryEvery --day challenges for you and usday challenges for you and us
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FERMA 11 October 2006 Jean-Paul RIGNAULT 7
For our ShareholdersFor our Shareholders
For our ClientsFor our Clients
RewardTrustOpenness
MotivationCareer ManagementEmpowermentRecognition
Quality of the Relationship
Quality of the AdviceSolutionDelivery
CloseClose
& Qualified& Qualified
For our EmployeesFor our Employeesand Sales Forcesand Sales Forces
StrongStrongDifferentiation inDifferentiation inClientsClients MindsetMindset
Strong CulturalStrong CulturalChangeChange
GlobalizationGlobalization
AXAAXAss close and qualified approachclose and qualified approach
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FERMA 11 October 2006 Jean-Paul RIGNAULT 9
In-depth Knowledge per Trade Sector
Risk EngineeringUnderwritingClaims handling
All Lines of BusinessProperty and CasualtyMarine and AviationSpace
Personal Accident,
Qualified
Global
Vision
Feedback Benchmark
Best practices
Adjustment or confirmation in business modelAdjustment or confirmation in business modelAdjustment or confirmation in business model
Glocal
Solutions
New underwriting offices
New centers of expertise (risk engineering)Close
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Globalization means new risksGlobalization means new risksGlobalization means new risks
Rules and RegulationsSOX
Mergers & AcquisitionsRisk legacy
Off-shoringDelocalization of European factories
OutsourcingCross-liability with sub-contrators
IT Reliability and Security
Staff ProtectionTravel / mission, expatriates,
Partnership
with a globalsolid and flexible
listening
multi-specialist
intercultural
insurance group
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FERMA 11 October 2006 Jean-Paul RIGNAULT 11
As a conclusionAs a conclusion
AXA story
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FERMA 11 October 2006 Jean-Paul RIGNAULT 12
There is a plan of exactly what will bediscussed and what problems resolved.There must be results, otherwise Germanparticipants will be disappointed.
A sharing of interests to which one aspires.One of the keys to the economic success of post-war Germany.
Partnership
A necessary evil, unless one has majoritycontrol, or there are good relations betweenall of the major players.
WorkshopA meeting to talk about issues of immediateimportance. The agenda remains flexible.
An agreement reached by mutualconcession. Its viewed as a realistic solution
and Germans strive for it.
Only losers compromise. Viewed as aweakness and can sap motivation.
Compromise
A serious calamity, a problem of major proportions.
Frequently used as a casual exaggeration of a minor problem.
CatastropheGerman French
Cultural and language gapsCultural and language gaps
Our experienceOur experience
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Thank you for your attention