RenaissanceRe Holdings Ltd. · NYSE:RNR
RenaissanceRe — Flood Re — Conference Presentation (February 2021)
11 slides from RenaissanceRe's conference presentation, February 2021
Slide 1: The journey so far
The journey so far Aidan Kerr, Director of Operations, Flood Re
Slide 2: Identifying a shared purpose
Identifying a shared purpose Customers Insurance Society Industry Government
Slide 3: Identifying a shared purpose
Identifying a shared purpose Customers Ensuring the availability Insurance of affordable flood cover Society Industry within a competitive market is the goal shared by all stakeholders Government
Slide 4: Delivering a 'world-first'
Delivering a ‘world-first’ The need for Flood Re legal First systems Transition Plan State Aid Flood Re established documents published build completed Published Ruling - increased incidents of flooding in the uk Flood Re reinsurance Data Sharing Insurers Accredited procurement Agreements as ready s
Slide 5: Customer impact
Customer impact Availability pre-launch High risk of flooding with Very little market available a flood claim High risk of Significantly less of market available flooding but no Significantly higher premium recent flood claim compared to non-flood risk customers Availability post-launch High risk of
Slide 6: Our purpose
Our purpose Flood Re’s purpose is to promote and enable the availability and affordability of flood insurance for eligible homes and manage over its lifetime the transition to an affordable market for household flood insurance where prices reflect the risks of flooding 6
Slide 7: Our transition purpose
Our transition purpose Flood Re’s purpose is to promote and enable the availability and affordability of flood insurance for eligible homes and manage over its lifetime the transition to an affordable market for household flood insurance where prices reflect the risks of flooding 7
Slide 8: The journey so far
The journey so far Aidan Kerr, Director of Operations, Flood Re
Slide 9: Additional slides
FLOODEE Additional slides
Slide 10: How Flood Re operates
How Flood Re operates Use a diagram Customer experience is Customers receive Customer unaffected and purchases flood risk information insurance as usual from insurers Tax raising powers with public Insurers Insurers pay out Insurers set accountability allowing insurers to base decide what when custo
Slide 11: Potential market outcomes from transition to risk-reflective pricing
Potential market outcomes from transition to risk-reflective pricing Outcome A Outcome B Market will provide insurance to the Market with risk-reflective pricing exists majority of high flood risk households, and provides wideliy available and but are at a rate that most would find affordable flood