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Global Reinsurance Consultants Ltd Celebrating 10 years in the Reinsurance Legacy Markets

Global Reinsurance Consultants Ltd Celebrating 10 years in the Reinsurance Legacy Markets

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Global Reinsurance Consultants Ltd Celebrating 10 years in the Reinsurance Legacy Markets

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  1. Global Reinsurance Consultants LtdCelebrating 10 years in the Reinsurance Legacy Markets

  2. Global Reinsurance Consultants Strategies for Worldwide Credit ControlARC CONGRESS 2009

  3. Introduction Strategies for Worldwide Credit Control Peter Matthews, Managing Director of Global Re • Guy Vanderhulst     -     European Insight • Peter Matthews        -     Dollars through the Door • Nada Khayer            -     Middle Eastern Opportunities • Diane MacGregor    -     The Importance of being… Proactive • Peter Matthews        -     Conclusion and Q&A

  4. The European Perspective Guy Vanderhulst Consultant

  5. THE EUROPEAN PERSPECTIVE • Introduction • Administering Business • Commutations – Recovery of Reinsurance Balances • Special cases • Veuillez laisser un Message • Paris here we come • Conclusion

  6. Dollars through the Door Peter Matthews Managing Director Global Reinsurance Consultants

  7. Dollars through the Door • Europe .v. the Rest of the World • Becoming Specialists in the Field • The Asian Way – What can go Won • Say What you Mean • Stand your Ground • Respect Reinsurers’ Views • Singapore Dollars • South American Pesos • Experiences in Uruguay

  8. What it takes to Get those Dollars through the Door: • Persistence • Overcoming Hurdles • Travel • Creative thinking • Commercialism • Leverage

  9. Middle East Opportunities Building Bridges in the Region Nada Khayer Middle East Representative Global Reinsurance Consultants

  10. Middle Eastern Opportunities • Background • Economic Growth in the Region • Long Established Companies • Legacy Business – where from? • Such a headache? • Current Overview • Significance of legacy underestimated • Are they willing to ‘clean up’? • Responding to external legacy

  11. Challenges in Achieving Recoveries Why is it a Challenge? • Cultural Differences • Right Contacts • Opinions behind the reluctance to settle? • Changes in Ownership • Regional Impact • Political Instability • Local Regulations • Language Barriers • Different Regional legal systems

  12. Suggestions for success: • Good News! • Please support your claims! • Build the relationships you get progress! Shukran, Tashakur iderim

  13. The Importance of Being Pro Active Diane MacGregor Client Executive Global Reinsurance Consultants

  14. The Importance of Being ………Pro-Activeor How to see the world for free • Asset .v. Liability • Build the Relationships How Listen! Travel/Visit the people and places Understand the business and national cultures Speak often Be polite but persistent Build trust If possible have people ‘on the ground’

  15. Why Find the issues • The next Big Claim • The Run Off Acquirer • Moving Towards a Scheme