Victor

Move to dropped

Victor is the MGA of Marsh

Worldwide operations, presence in Europe (Netherlands, Germany, Italy, UK)

Focus on digital solutions: semi-automatic underwriting, parametric solutions.

Current opportunities:

• Marine Hull
• Commercial Cargo (3-4m GWP)
• Cargo Liability
• Parametric Cargo Delay insurance

Next step

• Follow up call with Peter end of March.
• Ingmar Dobrindt to discuss with management and revert regarding broad partnership (European business) and follow-up to present UW methods and tools.

Notes:

Intro call with Alex MD for Victor Germany since 2021

Focus on SME business up to 150M€ turnover

Mutlilines MGAs (Marine hull, cargo, cyber, D&O, PI, consumer affinity in close cooperation with Marsh)

Line size:

• • Cyber / D&O 5M€
  • Marine Hull / 15M€ (restructuration in progress)
  • Cargo / 10M€

No property no direct liability

12 insurance partners for Germany

27M€ premium

21 persons today

Keen on expanding business in other geographies

Strong technology (low touch)

Carrier: give added value in process, IT, Dvpt, claim management, product development (3 months)

Co-insurance structure for volatile (for hull for example)

Carriers:

• D&O – Zurich
• Cyber – 2 carriers
• Hull 3-5 carriers (3-5 each)

Distribution channel: Marsh (60% market share) but as well online platforms, small brokers.

Strongest line to start with: Marine hull ; softening market. Data UWing driven. Very solid database. Full delegated authority (Berkshire, AIG).

Combined ratio of 90%

Marine Hull - a technical approach that has proven to be very effective:

Since 2021: Building a marine hull portfolio with a premium volume of up to USD 10 million+.

Gross loss ratio 2021 - 2024: around 51%

Technical underwriting: data-driven approach ("data lake") taking into account future loss expectations per ship/fleet

Victor's specially developed "pricing tool" VMIS

current placement of follow-up shares behind named lead-insurers

Well-known reinsurers such as Allianz Commercial or HDI Global support us – however, there are currently many overlaps here ► this looks different when we enter the market with a "new" capacity.

Marine Parametric Cargo Delay:

Coverage of pure property damage, provided that the triggering event "delay" occurs ("independent of property damage").

for sea / air transport

New product that does not yet exist in this form in Europe

Digital / AI-supported IT solution

Comprehensive global exposure control through strict limitations per e.g. ship, day, port of arrival, "critical" region (e.g. Panama or Suez Canal) or shipping line, and much more.

Flexible option to intervene in exceptional events (e.g., volcanic eruption in Europe) and impose a temporary drawing stop.

Among others, Marsh clients have already signaled great interest.