Post on 21-Jul-2020
transcript
The Standard of Excellence in the E&S Wind Market
2015 NAPSLOSan Diego, CA
www.amrisc.com
� “How are you doing?”
• Elite Producer Statistics
� “How are we doing?”
• AmRisc Stats
� “What are we doing?”
• Product “Check-in”
• Update since 2014 NAPSLO
� “What is The Market doing?”
• Conditions/Forecast….your favorite chart
� Let’s Celebrate 15 years! – But first, Q&A
2015 NAPSLO Agenda
How are you doing?Producer Stats
www.amrisc.com
The Standard of Excellence in the E&S Wind Market
www.amrisc.com
Producer StatsPRODUCER
LOGO
How are we doing?
AmRisc Stats
www.amrisc.com
The Standard of Excellence in the E&S Wind Market
25 55 80 100 125 125
255 287214
332 380 365475
548603
68527
106
163
204 231
260
302311
315
0
100
200
300
400
500
600
700
800
900
1000E&S Admitted
Brokerage Agency Total
E&S 94% 6% 100%
Admitted 71% 29% 100%
Split B/A 86% 14% 100%
Premium Growth – 15 Years
66 Underwriters
18 yrs avg
~$15M per UW
$100M $300M $M E&S Per Risk
Capacity Growth
2011-2015
Top 5
PRODUCERS
Percentage
of GWP
CRC 26 %
AmWINS 17 %
Peachtree 11%
All Risks 10 %
Swett 5 %
Top 5 Total 69 %
Apartments
36%
Real Estate 20%
Munis &
Schools 13%
Condos 13%
Technical Risks
15%
Other 3%
E&S Premium Split
Florida 47%
Texas 21%
GA, NC, SC 9%
AL, LA, MS 16%
Other 7%
E&S TIV by State
E&S Admitted
Policy Count 5,600 4,300
Average TIV $35M $10.6M
Average
Premium
$140K $73K
E&S Premium – Stats
What are we doing? Product “Check-in”
Update since 2014
www.amrisc.com
The Standard of Excellence in the E&S Wind Market
www.amrisc.com
• TOP TIER COMMERCIAL CAT PROPERTY
• AMERICAN COASTAL FOR FLORIDA CONDOS
General Property $315m E&S & $323m ACIC
• COASTAL INDUSTRIAL UP TO $250M PER RISK
• BUILDER’S RISK – TREMENDOUS GROWTH – NOW $150M PER RISK CAT
Technical Risks $113m GWP
• COASTAL PUBLIC ENTITY AND LARGE SCHEDULES
• AMRISC PRIMARY FOR SHARED AND LAYERED PROGRAMS
National Accounts $110m GWP
• MARKET LEADER IN CAROLINA COMMERCIAL PROPERTY AND E&S CONDOS
Eastern Seaboard $52m GWP
• AMRISC ONLINE: NOW INCLUDES WIND ONLY & GL INTEGRATION
• EQ – $75M+ PRIMARY PER RISK CAL EQ CAPACITY (3X 2014)
Specialty Products $41m GWP
Product “Check-In”
Yearend 2014• $915M Gross
Written Premium
• Moved four Florida counties out of High Demand (June)*
January 2015 • AmRisc Agency
Group launch
• Incumbent Wholesaler protection
April 2015• BB&T, AmRisc,
American Coastal Transaction announced
• AmRisc remains MGU for E&S Carriers and American Coastal
June 2015• American
Coastal 6/1 purchase by Sr. Mgmt.
• “And then there were five..” High Demand Counties *
• Commission INCREASE *
August 2015• E&S Standard
Commission INCREASE*
• $955M In-Force Premium
Update since 2014 NAPSLO
*Over the last 15 months, AmRisc has moved 11 counties out of High Demand and
raised the standard yielding HIGHER COMMISSIONS for ALL ELITE PRODUCERS.
What is the Market doing?
www.amrisc.com
The Standard of Excellence in the E&S Wind Market
Charley
Francis
Ivan
Jeanne
Katrina, Rita, Wilma
RMS 11
2/28/2011
Financial
Crisis
2008-2009
Coastal capacity
disrupted, e.g.
Condos begin to
leave open market
for Citizens
www.amrisc.com
“% Model Price measures technical price adequacy over time based on:
Premium, Deductibles, Coverage, Terms & Conditions – not just Rate”
(100% MP = 32% Design Loss Ratio)
100% MP = “still profitable”
CAT % Model Price Timeline CAT % Model Price Timeline
~140%CAT MP
AUG 2015
(with 6 month moving average)
www.amrisc.com
% Model Price Change
Year-Over-Year 2008-2015
E&S %MP Change - RENEWALS vs. expiring
2015 2016
Outlook
� Softening
continues
� Large Industry
or Financial
event before
softening
plateaus.
� ~10% MP YOY
DECREASE as
in previous 24
months
www.amrisc.com
NAPSLO 2015
Key Takeaways:
� We continue to target/expand in the
coastal wind market.
� Product growth will be organic
� Market Challenges differ from past
cycles – the past is rarely prologue.
� We continue to grow with our ELITE
PRODUCERS even in this challenging
market.
� Listen to the customer
Questions & Feedback
www.amrisc.com
The Standard of Excellence in the E&S Wind Market