Garantme

High-level objectives:

1. Get target minimum 6-7m year 1 (GLI only)
2. Target date to Dec 1st
3. Credit risk to be avoided -> Surety contract without tacit renewal where we renew each time

Tasks:

• Meeting with Garantme & GC iro reinsurance
• MS Amlin lead on reinsurance (20% on expiring conditions)
• Triage report (Corinne & team) - to be reviewed
• Sent DD questionnaire - OK all informations received
• Arch Re is doing the pricing and the offer via GC
• DD meeting with reinsurers
• Internal Axeria approval
• DD to be organized - Sept
• Call with GC - Reinsurance on Collected
• Financial Health (cash for one year)
• Change of tariff (delay on implementation)
• Issue with original policy
• Receive to receive legal opinions (2)
• Decide what product(s) to offer
• DD scheduled for September 10th in Paris
• Get control over the pricing
• Call on Sept 3rd
• Discuss with Garantme / Surety product not taken up
• Guy Carpenter - seeking capacity from reinsurers on the Surety product
• David’s recommendation
• Ongoing discussion with Louis/Benjamin to understand the recoveries pattern
• Non-authorised agents - everything onhold
• They can write from authorised agents
• Surety not approved yet
• Discuss plan on 4.11.2025
• Audit next week (2/2) - stop or extend to surety