/
The 10 Most Trusted Insurers in the Middle East The 10 Most Trusted Insurers in the Middle East

The 10 Most Trusted Insurers in the Middle East - PDF document

insightssuccess2
insightssuccess2 . @insightssuccess2
Follow
71 views
Uploaded On 2023-12-21

The 10 Most Trusted Insurers in the Middle East - PPT Presentation

This edition features a handful of business leaders Most Trusted Insurers across several sectors that are at the forefront of leading us into a digital future ID: 1035457

#internationalbusinessmagazine #bestbusinessmagazine #Globalbusinessmagazine #onlinebusinessmagazine

Share:

Link:

Embed:

Download Presentation from below link

Download Pdf The PPT/PDF document "The 10 Most Trusted Insurers in the Midd..." is the property of its rightful owner. Permission is granted to download and print the materials on this web site for personal, non-commercial use only, and to display it on your personal computer provided you do not modify the materials and that you retain all copyright notices contained in the materials. By downloading content from our website, you accept the terms of this agreement.


Presentation Transcript

uŒP]vPdŒv dZÇvu]}(/vµŒv/vµšŒÇ]všZD]oš ]P]šodŒv(}ŒuŸ}v ZÀ}oµŸ}v]Ì]vP/vµŒv^ǐšu]všZD]ošsK�Wíì/^^hWíð \n"* \n"&  D]ŸPŸvP}v}u]µŒvvvZv]vPWŸvšKµš}u  &RYHU6WRU\\n"* \n"&  D]ŸPŸvP}v}u]µŒvvvZv]vPWŸvšKµš}u &RQWHQWV .ÇdWŒ]P]vP'‰Á]šZ/voµ]ÀvYµo]šÇ/vµŒv^ŒÀ]  K+Œ]vP}u‰ŒZv]ÀZvP}(µš}u]Ì/vµŒv^}oµŸ}v  �](Œ/všŒvŸ}voo]ÀŒ]vPsoµÇ}všZdŒvŸ}v  ÀD]šŒ $UWLFOHV $UWLFOHV ]P]šodŒv(}ŒuŸ}vZÀ}oµŸ}v]Ì]vP/vµŒv^ǐšu]všZD]ošuŒP]vPdŒvdZÇvu]}(/vµŒv/vµšŒÇ]všZD]oš ]šZ]všZÇvu]u]o]µ}(šZD]ošU]vµŒv‰Œ}À]ŒuŒPšoÁŒš}(}v}u]š]o]šÇU‰oÇ]vP‰]À}šoŒ}o]v(}ŒŸ(Ç]vPŒ]o]vP]všµv(}ŒvZoovPX/vµŒvšŒvv]š}vÀvŸ}voŒ}ouŒ.vv]o(šÇvšV]šµušZššµ}((}µvŸ}voouvš(}Œ}v}u]Áoor]vPXdZµš}]v}(š]o]šÇÆšv‰Œ}šŸ}vŒ}]ÀŒš}ŒUv}u‰]vPZošZU‰Œ}‰ŒšÇUvµ]vŒ]lX/v]À]µovvšŒ‰Œ]o]lŒ‰}šŒµš]všZµŒZÀv‰Œ}À]Ç]vµŒvU(]o]šŸvPµv]u‰PŒ}ÁšZv‰Œ}‰Œ]šÇXdZ}vP}]vPušu}Œ‰Z}]Á]šZ]všZD]ošŒv]vµŒvš}ŒµvŒ}Œ]š‰š]o]šÇv‰Œ}‰v]šÇ(}Œ]vv}ÀŸ}vXÇuŒ]vPµ«vPrP]P]šošZv}o}P]U]vµŒŒŒŒZ‰]vPµš}uŒÆ‰Œ]vU}‰Ÿu]Ì]vP}‰ŒŸ}vo8]vÇUv]všŒ}µ]vP‰]}vŒ]vP‰Œ}µšvŒÀ]XdZ]Ÿ}vrdZíìD}šdŒµš/vµŒŒ]všZD]ošŒÀŒšZš}Œ[P]o]šÇ]vŒ‰}v]vPš}À}oÀ]vPvU]Pvo]vP‰Œ]PuZ]L]všZ‰Œ‰Ÿ}vv]]o]šÇ}(]vµŒvXšZD]oš}v}o]š]šPo}o‰ŒvU]vµŒŒ‰olj]À}šoŒ}o]všZ]]Ÿ}vXÇ}vŒP]}vo]]}ÇvŒ]UšZvŸŸŸÀoÇvPP]všŒvvŸ}vo}oo}ŒŸ}vUšZŒÇ}všŒ]µŸvPš}]všPŒŸvPD]ošŒv}v}u]]vš}šZŒ}Œ]všŒvŸ}vo]vµŒvov‰XdZ]Po}o}µšo}}lvZvšZš}Œ[‰]o]ŸvŒ8Œu]šššµŒŒ]Ÿo‰oÇŒ]všZPo}o]vµŒv}u]vX&EJUPSƒT" 2 3UHRQ%DQQLHU DK,DD&��DUK˜&ZKKY,DUKK�/&�/EdW \n"* \n"&  D]ŸPŸvP}v}u]µŒvvvZv]vPWŸvšKµš}u   /,)(/,1(81'(567$1'67+$77,0(/$1'$&&85$7(,192,&,1*,6(66(17,$/)257+(60227+)81&7,21,1*2)7+(+($/7+&$5(667(0$1')257+(6$7,6)$&7,212)7+(&/,(176$1'3$571(56 &RYHU6WRU\ 7 LPHZLWKLWVLQ¿QLWHXQGHUVWDQGLQJKHDOVXVDOO7KHSURYLVLRQRIFRPSUHKHQVLYHPHGLFDOVHUYLFHVUDQJLQJIURPSUHYHQWLYHPHDVXUHVWRDGYDQFHGWUHDWPHQWVKDVIDUUHDFKLQJLPSOLFDWLRQVIRUERWK¿QDQFLDOVXVWDLQDELOLW\RIKHDOWKFDUHV\VWHPVDQGWKHRYHUDOOZHOOEHLQJRILQGLYLGXDOV7KLVSURDFWLYHDSSURDFKQRWRQO\LPSURYHVSDWLHQWTXDOLW\RIOLIHEXWDOVRWUDQVODWHVWRVLJQL¿FDQWFRVWVDYLQJVIRUKHDOWKFDUHV\VWHPVLQWKHORQJUXQ:LWKDGHHSXQGHUVWDQGLQJRIWKHFODLPVKDQGOLQJV\VWHP/LIHOLQH73$FUHDWHVXQSDUDOOHOHGSURJUDPVWKDWHQDEOHWKHIDVWDQGH\rvFLHQWSURFHVVLQJRILQYRLFHVIURPPHGLFDOIDFLOLWLHVWRLQVXUDQFHFRPSDQLHVDQGHQVXUHWLPHO\DQGFRQWLQXRXVSD\PHQWVWRKHDOWKFDUHSURYLGHUVREWDLQLQJRSWLPDOGLVFRXQWVRQPHGLFDOVHUYLFHV/HW¶VGHOYHLQWRWKHUHIRUPDWLYHLQVLJKWV7KH)RXQGDWLRQRI/LIHOLQH73$/LIHOLQH73$DOVRNQRZQDV.KDW$O+D\D0DQDJHPHQWRI+HDOWK,QVXUDQFH&ODLPV//&LVDWKLUGSDUW\DGPLQLVWUDWRUWKDWZDVHVWDEOLVKHGLQ7KH¿UPRSHUDWHVLQWKH8$(2PDQDQG7XUNH\SURYLGLQJVHUYLFHVVXFKDVSURFHVVLQJVHWWOLQJDQGUHFRQFLOLQJFODLPVUHFRUGNHHSLQJDQGSODQPDLQWHQDQFH7KHRUJDQL]DWLRQZRUNVZLWKLQVXUDQFHFRPSDQLHVWKDWEHDUWKHULVNRIORVVDQGFRQWUDFWUHLQVXUDQFHFRPSDQLHVWRVKDUHWKHLUULVN,WR\ruHUVDUDQJHRISURGXFWVDQGVHUYLFHVWRVXLWGL\ru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¿WDEOHWRHQVXUHWKDWKHFRXOGFRQWLQXHKLVPLVVLRQIRUWKHORQJWHUP+HDGRSWHGH\rvFLHQWDQGHWKLFDOSUDFWLFHVVXFKDVWUDQVSDUHQWDFFRXQWLQJTXDOLW\FRQWUROFXVWRPHUVDWLVIDFWLRQDQGVRFLDOUHVSRQVLELOLW\7KH¿UPDOVRHQMR\VKLVZRUN¿QGLQJSOHDVXUHLQVHUYLQJVRFLHW\MR\LQVHHLQJWKHSDWLHQWVUHFRYHUJURZVWD\ruSDUWQHUVFROODERUDWHDQGYLVLRQPDWHULDOL]H&(20RKDPPDG$I]DO$ODPKDVDEDFNJURXQGLQ0%%6DQGKDVEHHQDQDFWLYHHQWUHSUHQHXUVLQFH+HIRXQGHG³0XVDOOD1HW73$//&´LQ'XEDLDQGKHOGWKHSRVLWLRQRI&(2XQWLO)ROORZLQJWKLVKHLQLWLDWHG³*OREDO1HW73$//&´LQ'XEDLLQDQGPDLQWDLQHGWKH&(2UROHXQWLO,Q0DUFKKHHPEDUNHGRQHVWDEOLVKLQJ³/LIHOLQH73$//&´LQ6KDUMDKZKHUHKHFXUUHQWO\VHUYHVDV&(27KURXJKRXWKLVFDUHHUKHKDVH[HFXWHGDFRPSUHKHQVLYHORQJWHUPVWUDWHJ\DLPHGDWIRVWHULQJVXVWDLQDEOHJURZWKDQGGHOLYHULQJWRSWLHUPHGLFDOVHUYLFHVWRUHVLGHQWVDQGFLWL]HQV8QGHUKLVOHDGHUVKLSGDWDGULYHQGHFLVLRQPDNLQJSURFHVVHVZHUHLPSOHPHQWHGRSWLPL]LQJUHVRXUFHDOORFDWLRQDQGHQKDQFLQJRYHUDOOH\rvFLHQF\UHVXOWLQJLQDVLJQL¿FDQWLQFUHDVHLQSURGXFWLYLW\   $W/LIHOLQHWKHFRPSDQ\XVHVDVWDWHRIWKHDUWFODLPVPDQDJHPHQWLQIRUPDWLRQV\VWHPWKDWHQKDQFHVWKHFDSDELOLWLHVDQGHIÀFLHQF\RIKDQGOLQJFODLPV &RPSO\LQJZLWK&KDOOHQJHV6RPHH[DPSOHVRIH[FHSWLRQDOFKDOOHQJHVWKDWVKRZWKHVHUYLFHKDVKHOSHGLQVXUDQFHFRPSDQLHVDQGFOLHQWVDUH‡0DQDJLQJWKHLPSDFWRIWKH&29,'SDQGHPLFRQWKHKHDOWKFDUHVHFWRUVXFKDVGHDOLQJZLWKLQFUHDVHGFODLPVYROXPHFRPSOH[LW\DQGFRVWHQVXULQJWKHVDIHW\DQGDYDLODELOLW\RIKHDOWKFDUHSURYLGHUVDQGFRPSO\LQJZLWKFKDQJLQJUHJXODWLRQVDQGJXLGHOLQHV‡,PSOHPHQWLQJLQQRYDWLYHDQGFXVWRPL]HGSURGXFWVVXFKDVZHOOQHVVSURJUDPVWHOHPHGLFLQHVHUYLFHVDQGFKURQLFGLVHDVHPDQDJHPHQWWKDWPHHWWKHGLYHUVHDQGFKDQJLQJQHHGVRIFXVWRPHUVDQGHQKDQFHWKHLUVDWLVIDFWLRQDQGOR\DOW\‡5HGXFLQJIUDXGDQGDEXVHLQWKHFODLPVSURFHVVVXFKDVLGHQWLI\LQJDQGSUHYHQWLQJIDOVHRULQÀDWHGFODLPVYHULI\LQJWKHHOLJLELOLW\DQGLGHQWLW\RIFODLPDQWVDQGUHFRYHULQJRYHUSD\PHQWVRUVXEURJDWLRQ‡(QKDQFLQJFXVWRPHUVHUYLFHDQGH[SHULHQFHVXFKDVSURYLGLQJRQOLQHDQGPRELOHDFFHVVWRFODLPVLQIRUPDWLRQR\ruHULQJVHOIVHUYLFHRSWLRQVDQGUHVROYLQJFRPSODLQWVDQGGLVSXWHVTXLFNO\DQGH\ruHFWLYHO\/HDGLQJWKH:D\&220U)DURRT$KPDGDQHQHUJHWLFDPELWLRXVSHUVRQDOLW\FRPSOHWHGKLV0%$LQ,QWHUQDWLRQDO%XVLQHVVDQGPRYHGWR'XEDL/XFNLO\KHJRWWKHRSSRUWXQLW\LQWKH+HDOWK,QVXUDQFH0DQDJHPHQW,QGXVWU\LQ0DUFK7KLVLVZKHUHKHUHDOL]HGWKLVLQGXVWU\KDVJRRGSRWHQWLDODQGJURZWKLQWKHIXWXUH7KHUHDIWHUWKH'XEDL*RYHUQPHQWLQWURGXFHGKHDOWKLQVXUDQFHSROLFLHVDQGODZVWRPDNHKHDOWKFDUHD\ruRUGDEOHIRUHYHU\RQH)DURRTVWDUWHGKLV¿UVWDVVLJQPHQWDVD5HODWLRQVKLSR\rvFHULQDFODLPVPDQDJHPHQWFRPSDQ\IRU\HDUVDQG\HDUVLQDQRWKHUWZRFRPSDQLHVDVPDQDJHURIPDUNHWLQJDQG*HQHUDO0DQDJHU$IWHUJDLQLQJH[WHQVLYH\HDUVRIH[SHULHQFH UHODWLRQVLQWKH+HDOWK,QVXUDQFH&ODLPV0DQDJHPHQW,QGXVWU\LQKHSODQQHGWRVWDUW/LIH/LQH73$7RGD\/LIH/LQH73$FRPSOHWHG\HDUVRIVXFFHVVIXO-RXUQH\ZHDFKLHYHGPLOHVWRQHVDQGRSHUDWHGDVWKHOHDGLQJ8$(73$ZLWKTXDOLW\VHUYLFHV0RWLYDWLRQWR(PEDUNLQ+HDOWKFDUH7KHPRWLYDWLRQWRHPEDUNRQKHDOWKFDUHFDPHIURPWKHGHVLUHWRKHOSSHRSOHDFFHVVTXDOLW\DQGD\ruRUGDEOHKHDOWKFDUHHVSHFLDOO\LQWLPHVRIXQFHUWDLQW\DQGFULVLV 0RKDPPDG$I]DO$ODPEHOLHYHVWKDWKHDOWKLQVXUDQFHLVQRWRQO\DEXVLQHVVEXWDOVRDVRFLDOUHVSRQVLELOLW\DQGDSXEOLFJRRG+HZDQWHGWRPDNHDGL\ruHUHQFHLQWKHOLYHVRISHRSOHZKRIDFHKHDOWKFKDOOHQJHVDQGULVNVDQGZKRQHHG¿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¿QHVWKHPD[LPXPWLPHWDNHQWRSURFHVVDQGVXEPLWDQLQYRLFHGHSHQGLQJRQWKHW\SHDQGFRPSOH[LW\RIWKHVHUYLFH7KHWHDPKDVDJUHHPHQWVZLWKDOOWKHPDMRUSURYLGHUVLQWKHLQGXVWU\ZKRKDYHDJUHHGWRDGKHUHWRWKHSROLF\DQGVWDQGDUGV%\KDYLQJWKHVHSROLFLHVDQGDJUHHPHQWVLWHQVXUHVWRGHOLYHUWKHVHUYLFHVZLWKVSHHGDQGH\rvFLHQF\DQGWKDWLWPDLQWDLQVWKHUHSXWDWLRQDVDUHOLDEOHDQGWUXVWHGSDUWQHULQWKHKHDOWKFDUHVHFWRU5LVN0DQDJHPHQW3URJUDPVDQG3ODQV2QHRIWKHPDLQVHUYLFHVWKDWWKHFRPSDQ\R\ruHUVLVWRFXVWRPGHVLJQDQGDSSO\ULVNPDQDJHPHQWSURJUDPVIRUKHDOWKLQVXUDQFHSODQV7KHRUJDQL]DWLRQGRHVWKLVE\IROORZLQJDIRXUVWHSSURFHVVWKDWFRYHUVDOODVSHFWVRIULVNPDQDJHPHQWIURPLGHQWL¿FDWLRQWRLPSURYHPHQW7KHVWHSVDUHDVIROORZV5LVNDVVHVVPHQW,WDQDO\]HVWKHKHDOWKLQVXUDQFHSODQ¶VFXUUHQWDQGSRWHQWLDOULVNVZKLFKPD\D\ruHFWLWV¿QDQFLDOSHUIRUPDQFHFXVWRPHUVDWLVIDFWLRQDQGUHJXODWRU\FRPSOLDQFH6RPHRIWKHFRPPRQULVNVWKDWLWDVVHVVHVDUHFODLPVSUHPLXPVHQUROOPHQWXWLOL]DWLRQTXDOLW\VDWLVIDFWLRQDQGFRPSOLDQFH7RLGHQWLI\DQGHYDOXDWHWKHVHULVNV/LIHOLQHXVHVYDULRXVWRROVDQGPHWKRGVVXFKDVDFWXDULDODQDO\VLVPDUNHWUHVHDUFKFXVWRPHUIHHGEDFNDQGGDWDPLQLQJ,WDOVRFRQVLGHUVWKHH[WHUQDOIDFWRUVWKDWPD\LQÀXHQFHWKHULVNVVXFKDVPDUNHWWUHQGVFRPSHWLWRUDFWLRQVDQGUHJXODWRU\FKDQJHV5LVNPLWLJDWLRQ,WGHYHORSVDQGLPSOHPHQWVVWUDWHJLHVWRUHGXFHRUHOLPLQDWHWKHULVNVWKDWKDYHEHHQLGHQWL¿HGDQGHYDOXDWHGLQWKHSUHYLRXVVWHS6RPHRIWKHFRPPRQVWUDWHJLHVWKDWWKHFRPSDQ\XVHVDUHSODQGHVLJQSULFLQJXQGHUZULWLQJQHWZRUNPDQDJHPHQWFDUHPDQDJHPHQWZHOOQHVVSURJUDPVDQGIUDXGSUHYHQWLRQ   7KHLQFHSWLRQVWRU\RI/LIHOLQHLVQRWMXVWDEXVLQHVVLWLVDPLVVLRQWRSURYLGHTXDOLW\KHDOWKFDUHVHUYLFHV 7KHVHVWUDWHJLHVDLPWRRSWLPL]HWKHEDODQFHEHWZHHQFRVWDQGTXDOLW\DQGWRHQKDQFHFXVWRPHUVDWLVIDFWLRQDQGOR\DOW\,WDOVRGHVLJQVDQGDSSOLHVSROLFLHVSURFHGXUHVFRQWUROVDQGFRQWLQJHQF\SODQVWRPDQDJHWKHULVNVH\ruHFWLYHO\DQGH\rvFLHQWO\5LVNPRQLWRULQJ,WPRQLWRUVDQGPHDVXUHVWKHSHUIRUPDQFHDQGRXWFRPHVRIWKHULVNPDQDJHPHQWVWUDWHJLHVWKDWLWKDVLPSOHPHQWHGLQWKHSUHYLRXVVWHS,WXVHVNH\SHUIRUPDQFHLQGLFDWRUV .3,V NH\ULVNLQGLFDWRUV .5,V GDVKERDUGVDQGUHSRUWVWRWUDFNDQGHYDOXDWHWKHUHVXOWVRIWKHULVNPDQDJHPHQWSURJUDP,WDOVRFRQGXFWVUHJXODUUHYLHZVDQGDXGLWVWRHQVXUHFRPSOLDQFHDQGTXDOLW\VWDQGDUGVDUHPHW5LVNLPSURYHPHQW,WLGHQWL¿HVDQGLPSOHPHQWVRSSRUWXQLWLHVWRLPSURYHWKHULVNPDQDJHPHQWSURJUDPEDVHGRQIHHGEDFNEHVWSUDFWLFHVOHVVRQVOHDUQHGDQGFKDQJLQJFLUFXPVWDQFHV,WFRQVWDQWO\ORRNVIRUZD\VWRHQKDQFHWKHH\ruHFWLYHQHVVDQGH\rvFLHQF\RIWKHULVNPDQDJHPHQWSURJUDPDQGWRDGDSWWRWKHFKDQJLQJQHHGVDQGH[SHFWDWLRQVRIWKHFXVWRPHUVDQGUHJXODWRUV,WDOVRSURYLGHVWUDLQLQJDQGHGXFDWLRQWRWKHKHDOWKLQVXUDQFHSODQ¶VVWD\ruDQGVWDNHKROGHUVWRHQKDQFHWKHLUULVNDZDUHQHVVDQGFXOWXUH&RQQHFWVZLWK5HJXODWRU\GDWDEDVHVDQG3ODWIRUPV$W/LIHOLQHWKHFRPSDQ\XVHVDVWDWHRIWKHDUWFODLPVPDQDJHPHQWLQIRUPDWLRQV\VWHPWKDWHQKDQFHVWKHFDSDELOLWLHVDQGH\rvFLHQF\RIKDQGOLQJFODLPV7KHV\VWHPXVHVWKHODWHVWWHFKQRORJ\DQGLQQRYDWLRQWRVWUHDPOLQHDQGRSWLPL]HWKHFODLPVSURFHVVIURPGDWDFDSWXUHDQGYDOLGDWLRQWRFRPPXQLFDWLRQDQGFROODERUDWLRQWRDQDO\WLFVDQGUHSRUWLQJWRLQWHJUDWLRQDQGFRPSOLDQFH7KHV\VWHPDOVRVXSSRUWVYDULRXVW\SHVRIFODLPVVXFKDVFDVKOHVVUHLPEXUVHPHQWSUHDXWKRUL]DWLRQDQGFRSD\PHQWR\ruHULQJÀH[LELOLW\DQGFRQYHQLHQFHWRWKHFXVWRPHUV0RUHRYHUWKHV\VWHPLQFRUSRUDWHVDUWL¿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¿QHVRUGLVSXWHV%\XVLQJLWVV\VWHPLWHQVXUHVWKDWLWGHOLYHUVFODLPVVHUYLFHVZLWKVSHHGDFFXUDF\DQGTXDOLW\)DVWDQGH\rvFLHQWSURFHVVLQJRI,QYRLFHV/LIHOLQH73$SURYLGHVFXVWRPL]HGVHUYLFHVWRKHOSLQVXUDQFHFRPSDQLHVFOLHQWVRYHUFRPHWKHLUXQLTXHFKDOOHQJHVVWUDWHJLFDOO\RSHUDWLRQDOO\DQGWDFWLFDOO\7KHPHGLFDOFODLPVSURFHVVLQJWHDPKDVH[WHQVLYHH[SHULHQFHLQWKH¿HOGRIPHGLFDODGPLQLVWUDWLRQVHUYLFHVDQGDFKLHYHVKLJKOHYHODQGVSHFLDOL]HGFRVWFRQWDLQPHQW,WKDVWKHDELOLW\WRWDLORUDQGLPSOHPHQWULVNPDQDJHPHQWSURJUDPV7KHVWDWHRIWKHDUWFODLPVPDQDJHPHQWLQIRUPDWLRQV\VWHPHQKDQFHVWKHDELOLW\WRGHVLJQDQGPDQDJHGL\ruHUHQWSURGXFWVH[FHSWLRQDOO\KHOSLQJFOLHQWVUHGXFHFRVWVDQGDFKLHYHWKHLUULVNPDQDJHPHQWJRDOV7KHWHDPLVIRFXVHGRQLWVFXVWRPHUVDQGWKHLUHYROYLQJQHHGVE\OLVWHQLQJDQGFRQGXFWLQJUHJXODUUHYLHZVRIWKHFXVWRPHUVHUYLFHDSSURDFK,WSHULRGLFDOO\UHYLHZVWKHLQWHUQDOSURFHVVHVWRRSWLPL]HWKHH\rvFLHQF\RIFODLPVDXWKRUL]DWLRQDQGSURFHVVLQJ,WNHHSVWKHV\VWHPVXSWRGDWHDVSDUWRIWKHLQWHJUDWHGVROXWLRQVWRFOLHQWVHQVXULQJWKDWLWUHPDLQVWKHOHDGHULQWKH¿HOG7UXVWHG3DUWQHULQWKH+HDOWKFDUH6HFWRU/LIHOLQHYDOXHVH[FHOOHQFHDQGLWVKRZVWKLVE\SURFHVVLQJLQYRLFHVIURPPHGLFDOIDFLOLWLHVWRLQVXUDQFHFRPSDQLHVTXLFNO\,WNQRZVWKDWSURPSWDQGFRUUHFWLQYRLFLQJLVYLWDOIRUWKHVPRRWKRSHUDWLRQRIWKHKHDOWKFDUHV\VWHPDQGIRUWKHKDSSLQHVVRIWKHFOLHQWVDQGSDUWQHUV7KDWLVZK\LWIROORZVDVWULFW7XUQDURXQGWLPHSROLF\WKDWVHWVWKHPD[LPXPWLPHLWXVHVWRSURFHVVDQGVHQGDQLQYRLFHEDVHGRQWKHNLQGDQGGL\rvFXOW\RIWKHVHUYLFH,WDOVRKDVFRQWUDFWVZLWKDOOWKHPDMRUSURYLGHUVLQWKHLQGXVWU\ZKRKDYHFRPPLWWHGWRIROORZWKHSROLF\DQGVWDQGDUGV%\IROORZLQJWKHVHSROLFLHVDQGFRQWUDFWVLWPDNHVVXUHWKDWWKHRUJDQL]DWLRQSURYLGHVVHUYLFHVZLWKVSHHGDQGH\rvFLHQF\DQGWKDWLWNHHSVLWVUHSXWDWLRQDVDGHSHQGDEOHDQGWUXVWHGSDUWQHULQWKHKHDOWKFDUHVHFWRU /LIHOLQHWDNHVSULGHLQKDYLQJEHHQKRQRUHGZLWKWKH%HVW3HUIRUPLQJ73$$ZDUGE\WKH,QVXUDQFH$XWKRULW\LQ7KLVHVWHHPHGDFFRODGHDFNQRZOHGJHVWKHLUFRPPLWPHQWWRGHOLYHULQJVXSHULRUVHUYLFHVWRFOLHQWVDQGSDUWQHUVZLWKLQWKHLQVXUDQFHVHFWRU7KHFRPSDQ\·VH[FHSWLRQDOÀQDQFLDOFRQWUROV\VWHPUHFRJQL]HGDVWKHEHVWLQWKHLQGXVWU\XQGHUVFRUHVLWVGHGLFDWLRQWRWUDQVSDUHQF\DFFRXQWDELOLW\DQGRSHUDWLRQDOHIÀFLHQF\7KHVHDFKLHYHPHQWVDUHWKHUHVXOWRIUHOHQWOHVVKDUGZRUNXQZDYHULQJGHGLFDWLRQDQGDFXOWXUHRILQQRYDWLRQ/LIHOLQHH[WHQGVJUDWLWXGHWRWKHLUYDOXHGVWDNHKROGHUVIRUWKHLURQJRLQJWUXVWDQGVXSSRUWDQGWKH\UHPDLQGHGLFDWHGWRXSKROGLQJWKHLUHOHYDWHGVWDQGDUGVDQGGHOLYHULQJFRQWLQXHGH[FHSWLRQDORXWFRPHV7KHFRPSDQ\KDVJDUQHUHGQRWDEOHUHFRJQLWLRQIURPERWKFOLHQWVDQGVXSSRUWHUVDWWHVWLQJWRLWVVWDQGLQJDVRQHRIWKHLQGXVWU\·VSUHPLHUEXVLQHVVSDUWQHUV7KLVDZDUGLVDWHVWDPHQWWR/LIHOLQH·VXQZDYHULQJFRPPLWPHQWWRH[FHOOHQFHLQQRYDWLRQDQGWKHXOWLPDWHVDWLVIDFWLRQRILWVFXVWRPHUV7KHFRPSDQ\H[WHQGVKHDUWIHOWDSSUHFLDWLRQIRUWKHFRQÀGHQFHDQGEDFNLQJLWUHFHLYHVIURPLWVFOLHQWVDQGVXSSRUWHUV 7 KHKXPDQOLIHVW\OHKDVFKDQJHGLQUHFHQWWLPHV,QVXFKFKDQJLQJWLPHVKHDOWKLVDXQLYHUVDOULJKWDQGDQHZSDUDGLJPLQWKHUHDOPRIKHDOWKLQVXUDQFHVHUYLFHV7KLVVKHGVOLJKWRQWKHSLRQHHUVZKRDUHUHGH¿QLQJWKHKHDOWKODQGVFDSHHQVXULQJKLJKTXDOLW\VWDQGDUGVLQKHDOWKLQVXUDQFHWRDOOVHFWRUVRIWKHSRSXODWLRQ([HPSOL¿HGE\WKHODXQFKRI\n'DKDE\n$D¿\D73$EHFDPHWKHSLRQHHU73$LQWKH8$(WRLQWURGXFHZHOOQHVVDQGOLIHVW\OHEHQH¿WVDVDFRPSOLPHQWDU\IHDWXUH7KHFRQVWDQWH\ruRUWVWRLPSURYHWKHFXVWRPHUH[SHULHQFHDQGVDWLVIDFWLRQKDYHOHG$D¿\D73$WRULVHWRWKHWRS73$LQWKH8$(7KLVMRXUQH\LVPDUNHGE\VHYHUDOVLJQL¿FDQWPLOHVWRQHVDQGZHDUHKHUHWRNQRZWKHPWKURXJKDQLQWHUYLHZZLWK0U0RKDPPDG$OL=DLGL*HQHUDO0DQDJHUDWWKHRUJDQL]DWLRQ%HORZDUHWKHKLJKOLJKWVRIWKHLQWHUYLHZ&DQ\RXSOHDVHLQWURGXFH\RXUVHOIDQGSURYLGHDQRYHUYLHZRI\RXUUROHDQGUHVSRQVLELOLWLHVZLWKLQWKH73$":LWKRYHU\HDUVRIH[SHULHQFHLQWKHKHDOWKLQVXUDQFHVHFWRULQWKH0LGGOH(DVWDQG,QGLD,KDYHGHYHORSHGDFRUHH[SHUWLVHLQRUJDQL]DWLRQDOSHUIRUPDQFHVWUDWHJ\IRUPXODWLRQDQGEXVLQHVVH[SDQVLRQ6LQFHWKHLQFHSWLRQRI$D¿\D73$,KDYHEHHQDFRUHPHPEHURIWKHPDQDJHPHQWWHDPDQGKDYHFRQWLQXRXVO\ZRUNHGWRZDUGVWKHFRPSDQ\\nVJURZWK$WSUHVHQW,VHUYHDVWKH*HQHUDO0DQDJHUDW$D¿\DZKHUH,KDYHVXFFHVVIXOO\QXUWXUHGDWHDPRIVNLOOHGPDQDJHUV,KDYHDOZD\VHQYLVLRQHGJURZLQJWKHFRPSDQ\\nVVWDWXUHWKURXJKVWUDWHJLFSODQQLQJDQGH[HFXWLRQ,QDGGLWLRQWREHLQJDVXFFHVVIXOOHDGHU,KDYHEXLOWUHODWLRQVKLSVZLWKPXOWLSOHLQVXUDQFHFRPSDQLHVDQGFKDQQHOSDUWQHUVWKURXJKRXWWKHUHJLRQ7KLVKDVHQDEOHGXVWRSURYLGHH[FHSWLRQDOVHUYLFHVWRRXUFOLHQWV0RUHRYHUDVD73$ZHDUHNQRZQIRULQWURGXFLQJVHYHUDOLQQRYDWLYHVWUDWHJLHVLQGL\ruHUHQWPDUNHWVHJPHQWVDQGFRQVLVWHQWO\DFKLHYLQJSHUIRUPDQFHREMHFWLYHV$VDWHDPZHKDYHGHPRQVWUDWHGDQDELOLW\WRGHYHORSDWKULYLQJ73$EXVLQHVVLQDKLJKO\FRPSHWLWLYHPDUNHWUHVXOWLQJLQ$D¿\D73$EHLQJRQHRIWKHWRS73$VLQ8$(%ULHÀ\GHVFULEHWKHKLVWRU\DQGPLVVLRQRI\RXU73$KLJKOLJKWLQJDQ\XQLTXHIHDWXUHVRUDUHDVRIVSHFLDOL]DWLRQ,QWKH\HDUWKHVWDNHKROGHUVZHUHFRQVLGHULQJPDNLQJKHDOWKLQVXUDQFHPDQGDWRU\LQWKH8$(LWZDVLPSRUWDQWWRVXSSRUWWKHLQVXUDQFHFRPSDQLHVLQPDQDJLQJDQGIDFLOLWDWLQJDVPRRWKFODLPSURFHVV 2FWREHUZZZLQVLJKWVVXFFHVVFRPdZíìD}šdŒµš/vµŒŒ]všZD]oš DŒXD}Zuuo]]]'vŒoDvPŒ 2FWREHUZZZLQVLJKWVVXFFHVVFRP ,QYLHZRIEULGJLQJWKHJDSVEHWZHHQWKHLQVXUDQFHFRPSDQLHVWKHQHWZRUNSURYLGHUVDQGWKHSROLF\KROGHU\n$D¿\D\nZDVERUQLQZLWKDPLVVLRQWRUHYROXWLRQL]HWKHKHDOWKFDUHSURFHVVDQGSURYLGHWKHPRVWVRXJKWDIWHUKHDOWKFDUHVHUYLFHVWRDOOVHFWRUVRIWKHSRSXODWLRQ$D¿\DZKLFKLVDV\QRQ\PIRU*RRG+HDOWKLVFRPPLWWHGWRSDWLHQWVDIHW\DQGLVDWUXVWZRUWK\KHDOWKFDUHIDFLOLWDWRULQWKHUHJLRQ$D¿\DSURYLGHVH[SHUWLVHLQ5LVN0DQDJHPHQW3ROLF\$GPLQLVWUDWLRQ&ODLP0DQDJHPHQW3URYLGHU1HWZRUN+HDOWKFDUH$VVLVWDQFH'HSDUWPHQW \r&XVWRPHU&DOO&HQWUH DQG&DVH0DQDJHPHQW,QDQHYROYLQJHQYLURQPHQWDQGLQDKHDOWKLQVXUDQFHVHFWRUOLNHRXUVWKHSURPLVHWKDWZHPDNHWRRXUPHPEHUVDQGVWDNHKROGHUVUHPDLQVFORVHWRRXUKHDUWV)RUXVDW$D¿\D73$RXU\HDUVRIHQJDJHPHQWDQGH[SHULHQFHVZLWKRXUPHPEHUVKDYHKHOSHGXVWRXQGHUVWDQGDQGLQQRYDWHRXUR\ruHULQJVWRPHHWWKHLUQHHGVDQGDVSLUDWLRQV7KHUHIRUHZHKDYHWUDQVODWHGRXUVHUYLFHV DQGVROXWLRQVLQWRRXUPLVVLRQWRVLPSOLI\WKHKHDOWKFDUHMRXUQH\:KDWGR\RXFRQVLGHUWREHWKHPRVWVLJQL¿FDQWDFKLHYHPHQWVRUPLOHVWRQHVWKDWKDYHFRQWULEXWHGWR\RXUFRPSDQ\\nVUHSXWDWLRQDVRQHRIWKHPRVWWUXVWHGLQVXUHUVLQWKH0LGGOH(DVW"2XUMRXUQH\WRZDUGVHVWDEOLVKLQJDUHSXWDWLRQDVRQHRIWKHPRVWWUXVWHGLQVXUHUVLQWKH0LGGOH(DVWKDVEHHQPDUNHGE\VHYHUDOVLJQL¿FDQWPLOHVWRQHVDQGDFKLHYHPHQWVVLQFHRXULQFHSWLRQLQ%\FRQVWDQWO\ZRUNLQJWRLPSURYHFXVWRPHUH[SHULHQFHDQGVDWLVIDFWLRQ$D¿\D73$URVHWRWKHWRS73$LQWKH8$()RULQVWDQFH$D¿\DEHFDPHWKHSLRQHHU73$LQWKH8$(WRLQWURGXFHZHOOQHVVDQGOLIHVW\OHEHQH¿WVDVDFRPSOHPHQWDU\IHDWXUHH[HPSOL¿HGE\WKHODXQFKRI\n'DKDE\nDSUHPLXPYDOXHDGGHGKHDOWKFDUHVHUYLFH2XUVWURQJUHODWLRQVKLSVZLWKLQVXUDQFHFRPSDQLHVDQGKHDOWKFDUHSURYLGHUVKDYHEHHQFUXFLDOWRRXUVXFFHVV7KH\HQKDQFHRXUFUHGLELOLW\DQGKHOSXVSURYLGHH[FHSWLRQDOVHUYLFHWRRXUYDOXHGFOLHQWV7KLVWUXVWIURPRXUFOLHQWVVWUHQJWKHQVRXUSRVLWLRQDQGHQVXUHVRXUORQJWHUPJURZWKDQGVWDELOLW\8OWLPDWHO\LWLVWKHVHFROOHFWLYHPLOHVWRQHVDQGGHGLFDWHGH\ruRUWVWKDWKDYH¿UPO\HVWDEOLVKHGXVDVRQHRIWKHPRVWWUXVWHGLQVXUHUVLQWKH0LGGOH(DVW+RZGRHV\RXUFRPSDQ\SULRULWL]HWKHQHHGVDQGFRQFHUQVRIFXVWRPHUVDQGZKDWVWUDWHJLHVGR\RXLPSOHPHQWWREXLOGWUXVWDQGVDWLVIDFWLRQ"$W$D¿\D73$ZHEHOLHYHLQFXVWRPHUFHQWULFLW\WKHUHIRUHZHSULRULWL]HWKHQHHGVDQGFRQFHUQVRIRXUPHPEHUVE\SODFLQJWKHPDWWKHFHQWHURIHYHU\WKLQJZHGR2XUJRDOLVWRSURYLGHH[FHSWLRQDOVHUYLFHDQGEXLOGWUXVWDQGVDWLVIDFWLRQZLWKRXUFOLHQWV7RDFKLHYHWKLVZHKDYHLPSOHPHQWHGVHYHUDOVWUDWHJLHV)LUVWO\ZHKDYHDGHGLFDWHGFXVWRPHUVHUYLFHWHDPWKDWLVDYDLODEOHJXDUDQWHHLQJWKDWDQ\LQTXLULHVRUSUREOHPVDUHDGGUHVVHGZLWKLQMXVW 2FWREHUZZZLQVLJKWVVXFFHVVFRP WKUHHULQJVWKHUHIRUHWKH\GRQ\nWKDYHWRZDLWLQORQJTXHXHVWRDGGUHVVDQ\FRQFHUQVRULVVXHVZLWKULQJVWKHUHIRUHWKH\GRQ\nWKDYHWRZDLWLQORQJTXHXHV:HXQGHUVWDQGWKDWKHDOWKFDUHLVDFULWLFDOVHUYLFHDQGRXUWHDPLVDOZD\VUHDG\WRDVVLVWRXUFOLHQWVLQDQ\ZD\SRVVLEOH6HFRQGO\ZHUHJXODUO\VHHNIHHGEDFNIURPRXUFOLHQWVWRXQGHUVWDQGWKHLUQHHGVDQGFRQFHUQVEHWWHUDQGZRUNRQSUREOHPVROYLQJPHWKRGVLQYLHZRIWKHFRQWLQXRXVLPSURYHPHQWRIRXUVHUYLFHV7KLVKHOSVXVEXLOGWUXVWZLWKRXUVWDNHKROGHUVDQGHQVXUHVWKDWZHDUHDOZD\VDLPLQJWRPHHWWKHLUH[SHFWDWLRQV7KLUGO\ZHKDYHLQYHVWHGLQWHFKQRORJ\WRHQVXUHWKDWRXUVHUYLFHVDUHH\rvFLHQWDQGUHOLDEOH:HKDYHGHYHORSHGDQLQWHJUDWHGLQKRXVHV\VWHPFDOOHG5HLD\DWRPDQDJHFODLPVSURFHVVLQJDQGSURYLGHUQHWZRUNV:HKDYHGHYHORSHGDPRELOHDSSWKDWLVDRQHVWRSVROXWLRQIRUDOOSROLF\UHODWHGLQIRUPDWLRQ)LQDOO\ZHKDYHHVWDEOLVKHGVWUDWHJLFSDUWQHUVKLSVZLWKLQVXUDQFHFRPSDQLHVDQGKHDOWKFDUHSURYLGHUV7KLVKDVKHOSHGXVEXLOGDUHSXWDWLRQDVDWUXVWHG73$LQWKHUHJLRQ:KDWDUHVRPHLQQRYDWLYHVHUYLFHVWKDW\RXUFRPSDQ\R\ruHUVWRFDWHUWRWKHXQLTXHQHHGVRIFOLHQWVLQWKH0LGGOH(DVW"+HUHDUHVRPHLQQRYDWLYHVHUYLFHVIRUDOORXUVWDNHKROGHUV5HLD\D±2XULQKRXVHFODLPPDQDJHPHQWV\VWHPSRZHUHGE\$,VHDPOHVVO\LQWHJUDWHVZLWKUHJXODWRU\SRUWDOVVWUHDPOLQLQJDQGDXWRPDWLQJDOORSHUDWLRQDOSURFHVVHV60(6HUYLFHV±$SUHPLXPVHUYLFHODXQFKHGWRWDUJHW60(FOLHQWVSURYLGLQJWKHPZLWKYDOXHGVHUYLFHVDORQJZLWKUHJXODULQVXUDQFHFRYHUDJHOLNHPHGLFLQHGHOLYHU\SULRULW\DWWKHKHDOWKFDUHIDFLOLW\DSSRLQWPHQWERRNLQJDQGPXFKPRUH$D¿\D0RELOH$SS±$RQHVWRSVROXWLRQIRUDOOWKHSROLF\UHODWHGLQIRUPDWLRQIRUWKHPHPEHUVDQGPRUH3UR&RQQHFW3RUWDO±$SRUWDOWKDWEULGJHVWKHJDSVEHWZHHQDKHDOWKFDUHSURYLGHUDQGD73$OLNHXVLQRUGHUWRKDYHUREXVWFRPPXQLFDWLRQ3%03RUWDO±$Q,QKRXVH3KDUPDF\%HQH¿W0DQDJHPHQW6\VWHPWRHQVXUHIDVWHUUHVSRQVHDQGQRORQJZDLWVDWWKHSKDUPDF\6LQFHLWLVDQLQKRXVHSRUWDOZHFDQHDVLO\VHWXSYDULRXVUXOHVEDVLVWKHUHTXLUHPHQW+RZGRHV\RXUFRPSDQ\HQVXUHVWULFWDGKHUHQFHWRUHJXODWRU\VWDQGDUGVDQGPDLQWDLQKLJKHWKLFDOVWDQGDUGVLQDOORSHUDWLRQV",WLVRXUUHVSRQVLELOLW\WRHQVXUHWKDWRXUFRPSDQ\RSHUDWHVLQFRPSOLDQFHZLWKDOOUHJXODWRU\VWDQGDUGVDQGPDLQWDLQVWKHKLJKHVWHWKLFDOVWDQGDUGVLQDOORIRXURSHUDWLRQV2QHRIWKHDVSHFWVLVWKHFRQ¿GHQWLDOLW\RIWKHPHPEHUV:HKDYHUHVWULFWHGDFFHVVDQGIUHTXHQWPRQLWRULQJRIDFFHVVFRQWUROSROLF\:LWKUHVSHFWWRWKHYHQGRUZHKDYHD&RQ¿GHQWLDOLW\DQG1RQ'LVFORVXUHDJUHHPHQWLQSODFH0RUHRYHU:HDUH$'+,&6FHUWL¿HG73$:KDWDUH\RXUFRPSDQ\\nVIXWXUHSODQVIRUJURZWKDQGH[SDQVLRQLQWKH0LGGOH(DVWUHJLRQDQGKRZGR\RXHQYLVLRQPDLQWDLQLQJDQGHQKDQFLQJWUXVWLQWKHFRPLQJ\HDUV":HKDYHDPELWLRXVSODQVIRUJURZWKDQGH[SDQVLRQLQWKH0LGGOH(DVWUHJLRQ2XUYLVLRQLVWREHFRPHWKH¿UVWFKRLFH73$LQWKHKHDOWKLQVXUDQFHVHFWRU7RDFKLHYHWKLVZHSODQWRH[SDQGRXUQHWZRUNRIFOLHQWVDQGSDUWQHUVERWKLQWKH8$(DQGWKURXJKRXWWKH0LGGOH(DVW:HZLOOFRQWLQXHWRLQYHVWLQWHFKQRORJ\DQGLQIUDVWUXFWXUHWRHQVXUHWKDWRXUVHUYLFHVDUHH\rvFLHQWUHOLDEOHDQGVFDODEOH:HZLOOFRQWLQXHWRIRFXVRQGHYHORSLQJLQQRYDWLYHLQLWLDWLYHVWKDWPHHWWKHHYROYLQJQHHGVRIRXUVWDNHKROGHUV2YHUDOOZHDUHFRPPLWWHGWRGHOLYHULQJH[FHSWLRQDOVHUYLFHWRRXUFOLHQWVDQGEXLOGLQJWUXVWLQWKH0LGGOH(DVWUHJLRQ:HDUHFRQ¿GHQWWKDWRXUIRFXVRQLQQRYDWLRQTXDOLW\DQGFXVWRPHUVHUYLFHZLOOHQDEOHXVWRDFKLHYHRXUJURZWKDQGH[SDQVLRQJRDOVZKLOHPDLQWDLQLQJRXUUHSXWDWLRQDVDWUXVWHG73$LQWKHUHJLRQ 2FWREHUZZZLQVLJKWVVXFFHVVFRP 2FWREHU ZZZLQVLJKWVVXFFHVVFRP  , QVXUDQFHSURGXFWVVHUYHDVDFUXFLDOVDIHW\QHWLQXQIRUHVHHQFLUFXPVWDQFHV:KLOHWKH\FDQQRWHQWLUHO\SUHYHQWOLIH¶VXQFHUWDLQWLHVWKH\SURYLGHDUREXVWGHIHQVHDJDLQVW¿QDQFLDOVHWEDFNV7KH\DFWDVDSURWHFWLYHEDUULHUHQVXULQJWKDW\RXUPRVWYDOXHGDVVHWV\RXUKHDOWK¿QDQFHVEXVLQHVVDQGDERYHDOOWKHZHOOEHLQJRI\RXDQG\RXUIDPLO\UHPDLQVHFXUHDQGVKLHOGHGIURPWKHXQSUHGLFWDEOHFKDOOHQJHVWKDWOLIHPD\SUHVHQW,QVXUHUVZKRDGRSWGLJLWDOL]DWLRQVXVWDLQDELOLW\DQGFXVWRPHUFHQWULFVWUDWHJLHVDUHSRLVHGIRUVXFFHVVLQWKLVHUDRIWUDQVIRUPDWLRQ$PRQJWKHVHLQGXVWU\OHDGHUV/LIHFDUH,QWHUQDWLRQDOVWDQGVRXWDVRQHRIWKHPRVWHVWHHPHGQDPHV:HKDGWKHSULYLOHJHRIGLVFXVVLQJEXVLQHVVG\QDPLFVZLWK$OQL]3RSDWWKH)RXQGHUDQG&KLHI([HFXWLYH2\rvFHU &(2 RI/LIHFDUH,QWHUQDWLRQDO$OQL]LVDKLJKO\GULYHQHQWUHSUHQHXUDQGDVSHFLDOLVWLQEXVLQHVVJURZWK+LVGHGLFDWLRQWRLQQRYDWLRQDQGFRQWLQXDOOHDUQLQJKDVEHHQDPRWLYDWLQJIDFWRUWKURXJKRXWKLVFDUHHUDQGSURYLGLQJH[FHSWLRQDOFDUHLVKLVFRUHLQWHUHVW%HORZDUHWKHKLJKOLJKWVIURPWKHLQWHUYLHZ&DQ\RXSOHDVHLQWURGXFH\RXUVHOIDQGSURYLGHDQRYHUYLHZRI\RXUUROHDQGUHVSRQVLELOLWLHVZLWKLQWKHLQVXUDQFHFRPSDQ\",DPWKHIRXQGHUDQG&KLHI([HFXWLYH2\rvFHU &(2 RI/LIHFDUH,QWHUQDWLRQDODOHDGLQJLQVXUDQFHKHDOWKDQGZHOOEHLQJDGYLVRULQWKH0LGGOH(DVW $IULFDR\ruHULQJDUDQJHRIEHVSRNHLQVXUDQFHDQGDZDUGZLQQLQJZRUNIRUFHFDUHDQGZHOOEHLQJVROXWLRQV,DPFRQVXPHGE\WKHSDVVLRQWRGHOLYHUH[WUDRUGLQDU\FDUHDQG,KDYHDQLQKHUHQWD\rvQLW\IRUOLIHORQJOHDUQLQJDQGLQQRYDWLRQ0\MRXUQH\LVJURXQGHGLQDVWURQJEHOLHIWKDWWKHKHDOWKFDUHLQGXVWU\VKRXOGEHDSURDFWLYHUDWKHUWKDQDUHDFWLYHPHDVXUH7KLVFRQYLFWLRQXOWLPDWHO\OHGWRWKHLQFHSWLRQRI&85$/LIHFDUH¶VFRPSOHPHQWDU\EHVSRNHKHDOWKDQGZHOOEHLQJSURSRVLWLRQZKLFKKDVJDUQHUHGPXOWLSOHLQWHUQDWLRQDODFFRODGHVDQGDZDUGV,QDGGLWLRQWRP\UROHDW/LIHFDUH,EHOLHYHLQHQDEOLQJKHDOWKFDUHDFFHVVVHUYLQJDVWKHFRIRXQGHURI+HDOWK;DFRPSDQ\WKDWOHYHUDJHVWHFKQRORJ\WRPDNHTXDOLW\SULPDU\KHDOWKFDUHDFFHVVLEOHD\ruRUGDEOHDQGFRQYHQLHQWIRUDOO+HDOWK;FXUUHQWO\RSHUDWHVLQ.HQ\DDQG3DNLVWDQ6WURQJO\D\rvUPLQJFKDULWDEOHFDXVHV,ODXQFKHGDQDQQXDO&65PHGLFDOFDPSLQWKH0DDVDL0DUDZKLFKKDVWUHDWHGRYHUSDWLHQWVWRGDWHLQDGGLWLRQWRVXSSRUWLQJVHYHUDOSURJUDPV,DPDOVRDFRIRXQGHURIWKH&DSLWDO&OXE(DVW$IULFDDQGDPHPEHURIWKH32DQG(0,5ERDUGURRP,UHFHLYHGP\EDFKHORU¶VGHJUHHLQ)LQDQFHDQG(FRQRPLFVIURPWKH8QLYHUVLW\RI:HVWHUQ2QWDULR&DQDGDDQG,DP&KDUWHUHG,QVXUDQFH,QVWLWXWH &,, FHUWL¿HG%ULHÀ\GHVFULEHWKHKLVWRU\DQGPLVVLRQRI\RXULQVXUDQFHFRPSDQ\KLJKOLJKWLQJDQ\XQLTXHIHDWXUHVRUDUHDVRIVSHFLDOL]DWLRQ/LIHFDUH,QWHUQDWLRQDOLVDOHDGLQJLQVXUDQFHKHDOWKDQGZHOOEHLQJDGYLVRULQWKH0LGGOH(DVWDQG$IULFDR\ru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dZíìD}šdŒµš/vµŒŒ]všZD]oš OLIHWLPHUHODWLRQVKLSVDQGLVFRQVXPHGE\WKHSDVVLRQWRGHOLYHUH[WUDRUGLQDU\FDUHDWDWLPHZKHQLWLVQHHGHGPRVW/LIHFDUHSULGHVLWVHOIRQLQWHJULW\VXSHULRUFXVWRPHUUHODWLRQVKLSPDQDJHPHQWDQGVXSSRUWDQGGLVSOD\VDKLJKOHYHORIHPSDWK\DQGFRPSDVVLRQIRUFOLHQWV/LIHFDUH¶VLQFUHGLEOHFOLHQWUHWHQWLRQUDWHLVDWHVWDPHQWWRWKHVHFRPSDQ\YDOXHVDVWKH\VHUYHDVWKHEDFNERQHRIRXUFRUSRUDWHFXOWXUH)XUWKHUPRUHRXUUHWHQWLRQUDWHLVDWHVWDPHQWWRFOLHQWVDWLVIDFWLRQZKRUHSHDWHGO\UHQHZWKHLUFRQWUDFWVWRFRQWLQXHUHDSLQJWKHEHQH¿WVRIH[FHOOHQWFDUHDQGFXVWRPHUVHUYLFH:KDWGR\RXFRQVLGHUWREHWKHPRVWVLJQL¿FDQWDFKLHYHPHQWVRUPLOHVWRQHVWKDWKDYHFRQWULEXWHGWR\RXUFRPSDQ\¶VUHSXWDWLRQDVRQHRIWKHPRVWWUXVWHGLQVXUHUVLQWKH0LGGOH(DVW"2XUVHFUHWWRNHHSLQJRXUFOLHQWVKDSS\KDVEHHQWREHFDULQJDQGVXSSRUWLYHRIWKHLUQHHGVDQGHPRWLRQVDWHYHU\VWHSRIWKHLUMRXUQH\ZLWK/LIHFDUH:HUHFRJQL]HWKDWZKLOHH[WUHPHO\LPSRUWDQWVRPHWLPHVLQVXUDQFHFRYHUDJHLVQ¶WHQRXJKZKLFKOHGWR/LIHFDUH¶VFRPSOLPHQWDU\DZDUGZLQQLQJEHVSRNHSURJUDPFDOOHG&85$ZKLFKLVFRPSOHWHO\XQLTXHWR/LIHFDUH&85$HQDEOHVRXUFOLHQWVWRDFFHVVLPPHGLDWHLQWHUQDWLRQDOURXQGWKHFORFNDQGUHDOWLPHPHGLFDOVHFXULW\WUDYHOFDUHDVVLVWDQFHDQGVXSSRUWVHUYLFHV7KHSDUWQHUVZHKDYHVHOHFWHGIRUWKH&85$SRUWIROLRDUHWKHEHVWRIWKHLUNLQG7KH VSHFWUXPRIEHQH¿WVLQFOXGHVHYHU\WKLQJLQFOXGLQJSURDFWLYHKHDOWKDQGZHOOEHLQJWLPHVDYLQJGLJLWDOWRROVFULVLVUHVSRQVHIDVWWUDFNVHUYLFHVFRVWFRQWDLQPHQWLQLWLDWLYHVZHOOQHVVVFUHHQLQJVDQGPXFKPRUH /LIH1HWKHOSVRXUFOLHQW¶V+5GHSDUWPHQWPDQDJHHPSOR\HHV¶LQVXUDQFHEHWWHUVPDUWHUDQGIDVWHU7KHSODWIRUPSURYLGHGUHOHYDQWLQVLJKWVRQPHGLFDOVFKHPHVFODLPVDGPLQLVWUDWLRQH\rvFLHQF\DQGPRUH2YHUWKH\HDUVWKHQXPEHURILQVXUDQFHSURYLGHUVZHZRUNZLWKKDVVLJQL¿FDQWO\JURZQ±HQFRPSDVVLQJDZLGHUDQJHRIERWKLQWHUQDWLRQDODQGORFDOSURYLGHUVDFURVVQXPHURXVPDUNHWV,QDGGLWLRQWRWKLVZHKDYHJURZQRXUQHWZRUNVLQWHUPVRIRXUFOLHQWEDVHDORQJZLWKEXVLQHVVSDUWQHUVKLSVDFURVVQXPHURXVFRXQWULHV7KHUHKDVEHHQDWUHPHQGRXVLQFUHDVHLQWKHQXPEHURIDOOLHGSDUWQHUVWKDW/LIHFDUHZRUNVZLWK:LWKRYHUFHUWL¿HGDOOLHGSDUWQHUVZHHQVXUHWKDWRXUFOLHQWVDUHUHFHLYLQJWKHEHVWYDOXHDGGHGVHUYLFHVLQFOXGLQJWHOHKHDOWKHPRWLRQDODVVLVWDQFHQXWULWLRQDOFRDFKLQJZRUNSODFHHUJRQRPLFVJ\PPHPEHUVKLSVOLIHVW\OHFRQFLHUJHVHUYLFHVJOREDOFULVLVUHVSRQVHDQGHYDFXDWLRQ/LIHFDUHKDVEHHQUHFRJQL]HGE\DQXPEHURIUHSXWHGLQWHUQDWLRQDODZDUGLQJERGLHVRYHUWKHSDVW\HDUVZKLFKUHÀHFWVRXUFRPPLWPHQWWRGHOLYHULQJFDUHDQGLQGHSHQGHQWDGYLFHWKURXJKXQLTXHDQGWDLORUHGKHDOWKLQVXUDQFHVROXWLRQVVRPHH[DPSOHVDUH%HVW:RUNSODFH:HOOEHLQJ$GYLVRUV7KH8.+HDOWK 3URWHFWLRQ$ZDUGV‡%HVW,QWHUQDWLRQDO,QGLYLGXDO&OLHQW$GYLFH)LUP7KH8.+HDOWK 3URWHFWLRQ$ZDUGV$GGLWLRQDOO\ZHKDYHDOVREHHQUHFRJQL]HGE\WKHLQWHUQDWLRQDOLQVXUHUVZHZRUNZLWKZKLFKKDVKHOSHGVWUHQJWKHQRXUUHODWLRQVKLSIXUWKHUVRPHH[DPSOHVDUH‡7RS3HUIRUPHU,QGLYLGXDO&OLHQW5HWHQWLRQ%XSD*OREDO‡7RS3URGXFLQJ%URNHU±0LGGOH(DVW $IULFD&LJQD:KDWDUHVRPHLQQRYDWLYHLQVXUDQFHSURGXFWVRUVHUYLFHVWKDW\RXUFRPSDQ\R\ruHUVWRFDWHUWRWKHXQLTXHQHHGVRIFOLHQWVLQWKH0LGGOH(DVW"$VLQGHSHQGHQWDGYLVRUVZHWDNHDFRQVXOWDWLYHDSSURDFKUDWKHUWKDQDWUDQVDFWLRQDORQHZKHUHRXUWHDPVRXUFHVSURGXFWVDYDLODEOHDQGWDLORUVWKHPWRVXLWWKHFOLHQW¶VXQLTXHQHHGV,QVXUDQFHFDQEHFRPSOH[DQGRXUWHDPVLPSOL¿HVLWDVDQLQGHSHQGHQWEURNHU±ZKHWKHU\RXDUHORRNLQJIRUDQLQGLYLGXDOIDPLO\60(RUFRUSRUDWHLQVXUDQFHSROLF\ZHFDWHUWRDZLGHUDQJHRI+HDOWK*HQHUDODQG/LIH,QVXUDQFHVROXWLRQV7KHUHODWLRQVKLSVXSSRUWDQGJXLGDQFHH[WHQGIDUEH\RQGSXUFKDVLQJWKHSROLF\UDWKHULWFRQWLQXHVWKURXJKRXW\RXUMRXUQH\ZLWK/LIHFDUH7KH0LGGOH(DVWKDVEHFRPHDPHOWLQJSRWRIYDULRXVFXOWXUHVWDVWHVDQGSUHIHUHQFHV1RRQHVROXWLRQ¿WVDOODQGWDNLQJDWDLORUHGDSSURDFKZKLOVWSULRULWL]LQJSURDFWLYHKHDOWKDQGZHOOEHLQJKDVEHHQUHFHLYHGZHOOLQWKH0LGGOH(DVW+RZGRHV\RXUFRPSDQ\HQVXUHVWULFWDGKHUHQFHWRUHJXODWRU\VWDQGDUGVDQGPDLQWDLQKLJKHWKLFDOVWDQGDUGVLQDOORSHUDWLRQV"/LIHFDUH,QWHUQDWLRQDOLVD*'35FRPSOLDQW,62FHUWL¿HGDQG2'3&DFFUHGLWHGEXVLQHVVWKDWDGKHUHVWR(XURSHDQ 2FWREHUZZZLQVLJKWVVXFFHVVFRP 8QLRQVWDQGDUGVRIGDWDSURWHFWLRQDQGFRQ¿GHQWLDOLW\7KHWHDPLVWUDLQHGLQOLQHZLWKDQLQWHUQDWLRQDOOHYHORIEHVWSUDFWLFHVWKDWDUHLPSOHPHQWHGWKURXJKRXWWKHRUJDQL]DWLRQZKLFKLVYHUL¿HGWKURXJKVHYHUDODQQXDODXGLWVWKDWKDYHUHVXOWHGLQKLJKVFRUHV/LIHFDUHLVDOVRDSDUWRIWKH%XVLQHVV,QWHJULW\,QGH[E\WKH%ULWLVK&KDPEHURI&RPPHUFHDQGDGKHUHVWRDVWULFWOHYHORIFOLHQWFRQ¿GHQWLDOLW\:KDWDUH\RXUFRPSDQ\¶VIXWXUHSODQVIRUJURZWKDQGH[SDQVLRQLQWKH0LGGOH(DVWUHJLRQDQGKRZGR\RXHQYLVLRQPDLQWDLQLQJDQGHQKDQFLQJWUXVWLQWKHFRPLQJ\HDUV":HLQWHQGWRQRWMXVWNHHSSDFHEXWFRPSOHWHO\H[FHHGRXUFOLHQW¶VQHHGV:HVHHNWRUHPDLQDJLOHDVDEXVLQHVVZLWKLQQRYDWLRQDWWKHIRUHIURQWQHYHUFRPSURPLVLQJFDUHDWDQ\VWHSRIWKHZD\:HZLOOFRQWLQXHWRGHOLYHUKLJKTXDOLW\WUXVWHGDQGFXVWRPL]HGFOLHQWVROXWLRQVGHYHORSLQJDQGLQWHJUDWLQJFOLHQWUHODWLRQVKLSVDQGIHHGEDFNFRQWLQXRXVO\$ZDUGVDZDUGV‡%HVW:RUNSODFH:HOOEHLQJ$GYLVRUV7KH8.+HDOWK 3URWHFWLRQ$ZDUGV‡%HVW,QWHUQDWLRQDO,QGLYLGXDO&OLHQW$GYLFH)LUP7KH8.+HDOWK 3URWHFWLRQ$ZDUGV 2FWREHUZZZLQVLJKWVVXFFHVVFRP ‡%HVW8VHRI/R\DOW\ 5HZDUGV3URJUDPWRHQKDQFH&XVWRPHU+DSSLQHVV&XVWRPHU+DSSLQHVV6XPPLW $ZDUGV‡&XVWRPHU+DSSLQHVV7HDPRIWKHHDU&XVWRPHU+DSSLQHVV6XPPLW $ZDUGV‡%HVW&RPPXQLW\,PSDFW,QLWLDWLYH *ROG (PSOR\HH+DSSLQHVV6XPPLW $ZDUGV‡7RS3HUIRUPHU,QGLYLGXDO&OLHQW5HWHQWLRQ%XSD*OREDO‡7RS3URGXFLQJ%URNHU±0LGGOH(DVW $IULFD&LJQD‡2XWVWDQGLQJ&RQWULEXWLRQWR&RUSRUDWH6RFLDO5HVSRQVLELOLW\´DZDUG$OOLDQ]‡$OOLDQ]6XPPLW6DOHV&KDPSLRQ$ZDUG4DWDU$OOLDQ]‡%HVW(PSOR\HU%UDQGV0LGGOH(DVW/HDGHUVKLS$ZDUGVDZDUGV‡'HOLYHULQJ&XVWRPHU+DSSLQHVVLQ7LPHVRI&ULVLV*RLQJ$ERYH %H\RQG&XVWRPHU+DSSLQHVV6XPPLW $ZDUGV‡%HVW8VHRI/R\DOW\ 5HZDUGV3URJUDPWRHQKDQFH&XVWRPHU+DSSLQHVV&XVWRPHU+DSSLQHVV6XPPLW $ZDUGV‡%HVW&RUSRUDWH+HDOWK,QVXUDQFH%URNHUDJH8$(&),‡%XVLQHVV,QWHJULW\$ZDUGE\WKH%ULWLVK&KDPEHURI&RPPHUFHLQ.HQ\D‡7KLQN%XVLQHVV,QVXUDQFH$ZDUGVQG5XQQHU8S7KH0RVW&XVWRPHU&HQWULF%URNHULQ.HQ\D‡5LVLQJ6WDU60(&LJQD‡%HVW:RUNSODFH:HOOEHLQJ$GYLVRU8.+ 3$ZDUGV‡%HVW1HZFRPHURIWKHHDU&LJQD‡%HVW3RUWIROLR*URZWK$OOLDQ] 2FWREHUZZZLQVLJKWVVXFFHVVFRP 5HYROXWLRQL]LQJ EJMONELK 6\VWHPVLQWKH DPPCKNJT 7 KHLQVXUDQFHODQGVFDSHLQWKH0LGGOH(DVWLVXQGHUJRLQJDUDGLFDOWUDQVIRUPDWLRQSURSHOOHGE\WKHZDYHRIGLJLWDOL]DWLRQ$VWKHUHJLRQHPEUDFHVWKHEHQH¿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rvFLHQF\DFFHVVLELOLW\DQGRYHUDOOFXVWRPHUH[SHULHQFHZLWKLQWKHLQVXUDQFHLQGXVWU\,QVXUWHFK,QQRYDWLRQV'ULYLQJ&KDQJH,QVXUWHFKWKHPDUULDJHRILQVXUDQFHDQGWHFKQRORJ\LVDGULYLQJIRUFHEHKLQGWKHGLJLWDOUHYROXWLRQLQWKH0LGGOH(DVW\nVLQVXUDQFHVHFWRU)URPDUWL¿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¿FLDOLQWHOOLJHQFHDQGPDFKLQHOHDUQLQJWHFKQRORJLHVDUHUHYROXWLRQL]LQJXQGHUZULWLQJSURFHVVHVDQGFODLPVPDQDJHPHQW 2FWREHUZZZLQVLJKWVVXFFHVVFRP ]P]šodŒv(}ŒuŸ}v 2FWREHUZZZLQVLJKWVVXFFHVVFRP 7KHVHWHFKQRORJLHVFDQDVVHVVULVNIDFWRUVPRUHDFFXUDWHO\OHDGLQJWRPRUHSUHFLVHXQGHUZULWLQJGHFLVLRQV,QFODLPVSURFHVVLQJ$,H[SHGLWHVWKHHYDOXDWLRQDQGVHWWOHPHQWRIFODLPVE\DXWRPDWLQJURXWLQHWDVNVUHGXFLQJSURFHVVLQJWLPHVDQGPLQLPL]LQJHUURUV7KLVQRWRQO\HQKDQFHVRSHUDWLRQDOH\rvFLHQF\EXWDOVRFRQWULEXWHVWRLPSURYHGFXVWRPHUVDWLVIDFWLRQ%ORFNFKDLQIRU6HFXULW\DQG7UDQVSDUHQF\%ORFNFKDLQWHFKQRORJ\LVJDLQLQJWUDFWLRQLQWKHLQVXUDQFHVHFWRUIRULWVSRWHQWLDOWRHQKDQFHVHFXULW\DQGWUDQVSDUHQF\7KHGHFHQWUDOL]HGDQGLPPXWDEOHQDWXUHRIEORFNFKDLQHQVXUHVWKHLQWHJULW\RIGDWDUHGXFLQJWKHULVNRIIUDXGDQGHQKDQFLQJWUXVWDPRQJVWDNHKROGHUV6PDUWFRQWUDFWVH[HFXWHGRQEORFNFKDLQSODWIRUPVDXWRPDWHDQGVWUHDPOLQHSROLF\DGPLQLVWUDWLRQFODLPVSURFHVVLQJDQGSUHPLXPSD\PHQWVOHDGLQJWRLQFUHDVHGH\rvFLHQF\DQGUHGXFHGDGPLQLVWUDWLYHFRVWV0RELOH,QVXUDQFHDQG0LFURLQVXUDQFH6ROXWLRQV7KHSUHYDOHQFHRIPRELOHGHYLFHVLQWKH0LGGOH(DVWKDVJLYHQULVHWRPRELOHLQVXUDQFHVROXWLRQVWKDWFDWHUWRWKHQHHGVRIGLJLWDOO\VDYY\FRQVXPHUV0RELOHDSSVQRWRQO\SURYLGHDSODWIRUPIRUSXUFKDVLQJSROLFLHVEXWDOVRVHUYHDVWRROVIRUSROLF\PDQDJHPHQWFODLPVUHSRUWLQJDQGFRPPXQLFDWLRQZLWKLQVXUHUV$GGLWLRQDOO\GLJLWDOWHFKQRORJLHVDUHIDFLOLWDWLQJWKHGHYHORSPHQWRIPLFURLQVXUDQFHVROXWLRQVPDNLQJLQVXUDQFHPRUHDFFHVVLEOHWRXQGHUVHUYHGSRSXODWLRQVDQGQLFKHPDUNHWV5HJXODWRU\6XSSRUWDQG)LQWHFK&ROODERUDWLRQ5HJXODWRU\ERGLHVLQWKH0LGGOH(DVWDUHDFWLYHO\VXSSRUWLQJWKHGLJLWDOWUDQVIRUPDWLRQRIWKHLQVXUDQFHVHFWRU5HJXODWRU\IUDPHZRUNVDUHEHLQJDGDSWHGWRDFFRPPRGDWHLQQRYDWLRQVZKLOHHQVXULQJFRQVXPHUSURWHFWLRQDQGPDUNHWVWDELOLW\&ROODERUDWLRQVEHWZHHQLQVXUHUVDQG¿QWHFKFRPSDQLHVDUHIRVWHULQJLQQRYDWLRQDQGLQWURGXFLQJQHZEXVLQHVVPRGHOV7KHVHSDUWQHUVKLSVDUHFRQWULEXWLQJWRWKHFUHDWLRQRIWDLORUHGVROXWLRQVWKDWDGGUHVVVSHFL¿FUHJLRQDOQHHGVDQGFKDOOHQJHV&KDOOHQJHVDQG2SSRUWXQLWLHV:KLOHWKHEHQH¿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rvFLHQF\DQGHQKDQFHGFXVWRPHUH[SHULHQFHV7KHDGRSWLRQRIDGYDQFHGWHFKQRORJLHVFRXSOHGZLWKUHJXODWRU\VXSSRUWDQGLQGXVWU\FROODERUDWLRQSRVLWLRQVWKHUHJLRQ\nVLQVXUDQFHVHFWRURQDWUDMHFWRU\RIVXVWDLQDEOHJURZWK$VLQVXUHUVFRQWLQXHWRHPEUDFHGLJLWDOL]DWLRQWKH0LGGOH(DVWLVSRLVHGWREHFRPHDJOREDOOHDGHU 2FWREHUZZZLQVLJKWVVXFFHVVFRP RQDYLJDWHWKHXQFHUWDLQWLHVRIOLIHLQVXUDQFHLVDWRROWKDWDFWVDVDVDIHW\QHW8QSUHFHGHQWHGVLWXDWLRQVFDQRFFXUDWDQ\LQVWDQFHDQGKDYLQJ¿QDQFLDOVHFXULW\WRZLWKVWDQGWKHVHVLWXDWLRQVFDQVROYHWKHPDMRULW\RIDGYHUVLWLHV7KHSHDFHRIPLQGWKDWFRPHVZLWKLQVXUDQFHDOORZV\RXWRIRFXVRQ\RXUJRDOVDQGDVSLUDWLRQVZLWKRXWWKHFRQVWDQWZRUU\RISRWHQWLDO¿QDQFLDOVHWEDFNV,QWKLVFRQWH[WWKHFRPSHWLWLYHODQGVFDSHRIEHFRPLQJDWUXVWHGLQVXUHULQYROYHVDEOHQGRIHVVHQWLDOIDFWRUVWKDWFROOHFWLYHO\FRQWULEXWHWRHVWDEOLVKLQJFUHGLELOLW\UHOLDELOLW\DQGFRQ¿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¶VVWUDWHJLFYLVLRQDQGREMHFWLYHVDQGVHWWLQJFOHDUSHUIRUPDQFHJRDOVDORQJVLGHWRGULYHSHUIRUPDQFHDQGRYHUDOOJURZWK)XUWKHUPRUHLQ 0DLWUD o]ÀŒ]vPsoµÇ}všZdŒvŸ}vWHUPVRIEXVLQHVVGHYHORSPHQWDQGJURZWK,LGHQWLI\DQGFDSLWDOL]HRQRSSRUWXQLWLHVLQWKHLQVXUDQFHPDUNHWIRVWHULQJUHODWLRQVKLSVZLWKFOLHQWVDQGFDUULHUVDQGVSHDUKHDGLQJH\ruRUWVWRDFTXLUHQHZFOLHQWVDQGH[SDQGRXUPDUNHWSUHVHQFH)LQDQFLDOPDQDJHPHQWLVSLYRWDOLQYROYLQJH\ruHFWLYHEXGJHWLQJIRUHFDVWLQJDQGWKHSXUVXLWRISUR¿WDELOLW\ZKLOHPLWLJDWLQJ¿QDQFLDOULVNV+HQFHWRHQVXUHVWULFWFRPSOLDQFHZLWKLQVXUDQFHODZVDQGUHJXODWLRQV,VWD\XSGDWHGRQLQGXVWU\FKDQJHVWKHUHE\IRVWHULQJDFXOWXUHRIFRPSOLDQFH%DVHGRQWKHVHWUHQGV,GHYHORSFULVLVPDQDJHPHQWSODQVDQGDFWLYHO\HQJDJHLQLQGXVWU\DVVRFLDWLRQVDQGHYHQWVWRVWD\FRQQHFWHGZLWKSHHUVDQGLQGXVWU\WUHQGV%ULHÀ\GHVFULEHWKHKLVWRU\DQGPLVVLRQRI\RXULQVXUDQFHFRPSDQ\KLJKOLJKWLQJXQLTXHIHDWXUHVDQGDUHDVRIVSHFLDOL]DWLRQ(VWDEOLVKHGLQLQ'XEDL6DYLQJWRQ,QWHUQDWLRQDO,QVXUDQFH%URNHUV//&KDVHPHUJHGDVDSURPLQHQWSOD\HU :HULJRURXVO\XSKROGUHJXODWRU\VWDQGDUGVDQGHWKLFDOFRQGXFWDFURVVRXURSHUDWLRQVHPSOR\LQJDPXOWLIDFHWHGDSSURDFKWRHQVXUHFRPSOLDQFHDQGHWKLFDOLQWHJULW\  2FWREHUZZZLQVLJKWVVXFFHVVFRP LQWKH8QLWHG$UDE(PLUDWHV¶LQVXUDQFHODQGVFDSH+ROGLQJOLFHQVHVDQGFHUWL¿FDWLRQVIURPWKH&HQWUDO%DQNRI8$(¶ZHKDYHEHFRPHDWUXVWHGDQGUHFRJQL]HGHQWLW\ZLWKLQWKHLQVXUDQFHPDUNHW2XUGHGLFDWHGWHDPDQGFRPSUHKHQVLYHLQVXUDQFHR\ru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ru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¿FDQWDFKLHYHPHQWVRUPLOHVWRQHVWKDWKDYHFRQWULEXWHGWR\RXUFRPSDQ\¶VUHSXWDWLRQDVRQHRIWKHPRVWWUXVWHGLQVXUHUVLQWKH0LGGOH(DVW"2XUPRVWVLJQL¿FDQWPLOHVWRQHLV(DV\,QVXUDQFHE\(WLVDODWZKLFKUHDFKHVWKHFOLHQWPRUHH\ruHFWLYHO\E\OHYHUDJLQJWKHSRZHURIWHFKQRORJ\DQGWKHFOLHQWLVDEOHWRSXUFKDVHWKHSROLF\RIKLVFKRLFHLQDPDWWHURIPLQXWHVLUUHVSHFWLYHRIWLPHDQGORFDWLRQ:HDUHWU\LQJWRUHGH¿QHDQGGLVUXSWWKHLQVXUDQFHGLVWULEXWLRQPRGHOE\OHYHUDJLQJWKHDOUHDG\HVWDEOLVKHGFKDQQHOVRIGLVWULEXWLRQDQGSURGXFWVDQGFRXSOLQJWKHPZLWKWKHVDIHW\FRYHURILQVXUDQFH ÀD]šŒDvP]vP]Œš}Œ^À]vPš}v/vµŒvŒ}lŒ +RZGRHV\RXUFRPSDQ\SULRULWL]HWKHQHHGVDQGFRQFHUQVRIFXVWRPHUVDQGZKDWVWUDWHJLHVGR\RXLPSOHPHQWWREXLOGWUXVWDQGVDWLVIDFWLRQ")LUVWO\WRWUXO\XQGHUVWDQGFXVWRPHUQHHGVZHDVEURNHUVLQYHVWVXEVWDQWLDOWLPHDQGH\ruRUWLQFRQGXFWLQJFRPSUHKHQVLYHDVVHVVPHQWVDQGFRQVXOWDWLRQV7KHVHH\ruRUWVDUHJHDUHGWRZDUGVJDLQLQJLQWLPDWHNQRZOHGJHRIHDFKFOLHQW¶VXQLTXHULVNSUR¿OH¿QDQFLDOVLWXDWLRQDQGLQGLYLGXDOREMHFWLYHV%\PHWLFXORXVO\GHOYLQJLQWRWKHVHDVSHFWVZHUHFRPPHQGLQVXUDQFHVROXWLRQVWKDWDUHSUHFLVHO\WDLORUHGWRPDWFKDFOLHQW¶VVSHFL¿FUHTXLUHPHQWV:KHWKHULW¶VFUDIWLQJDSROLF\ZLWKWDLORUHGFRYHUDJHOLPLWVEXQGOLQJSROLFLHVWRRSWLPL]HSURWHFWLRQRUSURYLGLQJDGGRQRSWLRQVWRFDWHUWRXQLTXHSUHIHUHQFHVWKHRYHUDUFKLQJREMHFWLYHLVWRHQVXUHWKDWWKHLQVXUDQFHFRYHUDJH¿WVOLNHDJORYH6HFRQGO\WKHSURYLVLRQRIWDLORUHGLQVXUDQFHVROXWLRQVIRUPVWKHFRUQHUVWRQHRIWKHFOLHQWFHQWULFDSSURDFK:HWDNHJUHDWFDUHLQFUDIWLQJSROLFLHVWKDWDOLJQVHDPOHVVO\ZLWKDFOLHQW¶VQHHGVDQGSUHIHUHQFHV7KHVHFXVWRPL]HGVROXWLRQVJREH\RQGR\ruWKHVKHOIR\ruHULQJVWRSURYLGH 2FWREHUZZZLQVLJKWVVXFFHVVFRPdZíìD}šdŒµš/vµŒŒ]všZD]oš SUHFLVHFRYHUDJH:KHWKHULW¶VSHUVRQDOLQVXUDQFHOLDELOLW\FRYHUDJHRUVSHFLDOL]HGULVNSURWHFWLRQWKHVHWDLORUHGSROLFLHVFDWHUWRWKHQXDQFHVRIHDFKFOLHQW¶VVLWXDWLRQ,W¶VDERXWHQVXULQJWKDWWKHFOLHQWLVQ¶WRYHULQVXUHGRUXQGHULQVXUHGEXWUDWKHUSHUIHFWO\LQVXUHG7KLVQRWRQO\HQKDQFHVFOLHQWVDWLVIDFWLRQEXWDOVRXQGHUVFRUHVRXUFRPPLWPHQWDVEURNHUVWRGHOLYHULQJYDOXHEH\RQGWKHWUDQVDFWLRQ,QHVVHQFHWKHVH¿UVWWZRSLOODUVXQGHUVWDQGLQJFOLHQWQHHGVDQGGHOLYHULQJWDLORUHGVROXWLRQVFRQVWLWXWHWKHEHGURFNXSRQZKLFKWKHHQWLUHFOLHQWFHQWULFVWUDWHJ\RI6DYLQJWRQLVEXLOW:KDWDUHVRPHLQQRYDWLYHLQVXUDQFHSURGXFWVRUVHUYLFHVWKDW\RXUFRPSDQ\R\ru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¿FDQWO\LQRQJRLQJWUDLQLQJSURJUDPVWKDWDGGUHVVUHJXODWRU\XSGDWHVFRPSOLDQFHSURFHGXUHVDQGHWKLFDOSULQFLSOHV7KHVHWUDLQLQJLQLWLDWLYHVDUHQRWRQHWLPHHYHQWVEXWFRQWLQXRXVSURFHVVHVNHHSLQJHPSOR\HHVDWWKHIRUHIURQWRIHYROYLQJUHJXODWLRQVDQGHWKLFDOFRQVLGHUDWLRQV&RPSOLDQFHR\rvFHUVRUWHDPVSOD\DSLYRWDOUROHLQGHVLJQLQJDQGGHOLYHULQJWKHVHWUDLQLQJSURJUDPV7KHVHSURIHVVLRQDOVSRVVHVVVSHFLDOL]HGNQRZOHGJHLQUHJXODWRU\PDWWHUVDQGHQVXUHWKDWHPSOR\HHVFRPSUHKHQGDQGDGKHUHWRWKHODWHVWVWDQGDUGV7KHWUDLQLQJLVQ¶WMXVWDERXWNQRZOHGJHLW¶VDERXWFUHDWLQJDFXOWXUHRIHWKLFDOEHKDYLRUDQGGHFLVLRQPDNLQJ(PSOR\HHVDUHHGXFDWHGRQWKHLPSRUWDQFHRIWUDQVSDUHQF\KRQHVW\DQGFOLHQWFHQWULFLW\3UDFWLFDOVFHQDULRVDQGFDVHVWXGLHVDUHLQWHJUDWHGLQWRWKHWUDLQLQJWRSURYLGHUHDOZRUOGFRQWH[W,QDGGLWLRQWRUHJXODUWUDLQLQJZHHVWDEOLVKZULWWHQSROLFLHVFRGHVRIFRQGXFWDQGFRQÀLFWRILQWHUHVWSROLFLHV,QGHSHQGHQWUHYLHZVDQGDXGLWVERWKLQWHUQDODQGH[WHUQDOHYDOXDWHWKHVHFRPSOLDQFHH\ruRUWVIXUWKHU%\HPSKDVL]LQJUHJXODUWUDLQLQJ6DYLQJWRQIRVWHUVDFXOWXUHZKHUHHPSOR\HHVDUHZHOOHTXLSSHGWRQDYLJDWHWKHFRPSOH[ODQGVFDSHRIUHJXODWLRQVDQGXSKROGWKHKLJKHVWHWKLFDOVWDQGDUGVLQWKHLULQWHUDFWLRQVZLWKFOLHQWVFROOHDJXHVDQGSDUWQHUV7KLVFRPPLWPHQWWRWUDLQLQJQRWRQO\HQVXUHVFRPSOLDQFHEXWDOVREROVWHUVFOLHQWWUXVWDQGPDLQWDLQVWKHLQGXVWU\¶VUHSXWDWLRQIRULQWHJULW\:KDWDUHWKHFRPSDQ\¶VIXWXUHSODQVIRUJURZWKDQGH[SDQVLRQLQWKH0LGGOH(DVWUHJLRQDQGKRZGR\RXHQYLVLRQPDLQWDLQLQJDQGHQKDQFLQJWUXVWLQWKHFRPLQJ\HDUV"2XUFRPSDQ\DLPVWRDFKLHYHWKHVWDWXVRISDQ8$(LQWKHQH[W\HDUE\RSHQLQJDEUDQFKR\rvFHLQ$EX'KDEL:HDUHDOVRSODQQLQJWR*RSDQ*&&E\RSHQLQJR\rvFHVLQ6DXGL$UDELD4DWDUDQG%DKUDLQ 2FWREHUZZZLQVLJKWVVXFFHVVFRP $ZDUGV 2FWREHUZZZLQVLJKWVVXFFHVVFRP 7KH'\QDPLFVRI EJMONELK EPMJTO[LQWKHDPPCKNJTKHLQVXUDQFHLQGXVWU\LQWKH0LGGOH(DVWLVXQGHUJRLQJDSURIRXQGWUDQVIRUPDWLRQGULYHQE\DFRQÀXHQFHRIHFRQRPLFWHFKQRORJLFDODQGUHJXODWRU\IDFWRUV$VWKHUHJLRQFRQWLQXHVWRHYROYHLQVXUDQFHSURYLGHUVDUHDGDSWLQJWRHPHUJLQJWUHQGVWKDWDUHUHVKDSLQJWKHODQGVFDSH,QWKHSURFHVVZHGHOYHLQWRWKHG\QDPLFVRIWKHLQVXUDQFHVHFWRULQWKH0LGGOH(DVWH[SORULQJWKHNH\WUHQGVWKDWDUHLQÀXHQFLQJLWVWUDMHFWRU\'LJLWDO7UDQVIRUPDWLRQDQG,QVXUWHFK,QWHJUDWLRQ7KH0LGGOH(DVWLVZLWQHVVLQJDUDSLGGLJLWL]DWLRQRILWVHFRQRPLHVDQGWKHLQVXUDQFHLQGXVWU\LVQRH[FHSWLRQ,QVXUWHFKDSRUWPDQWHDXRILQVXUDQFHDQGWHFKQRORJ\LVSOD\LQJDSLYRWDOUROHLQUHVKDSLQJWUDGLWLRQDOLQVXUDQFHPRGHOV)URPGLJLWDOXQGHUZULWLQJSURFHVVHVWR$,GULYHQFODLPVDVVHVVPHQWVLQVXUHUVDUHOHYHUDJLQJWHFKQRORJ\WRHQKDQFHH\rvFLHQF\DQGSURYLGHPRUHSHUVRQDOL]HGVHUYLFHV0RUHRYHUWKHULVHRIGLJLWDOSODWIRUPVLVFKDQJLQJWKHZD\FXVWRPHUVLQWHUDFWZLWKLQVXUDQFHSURGXFWV0RELOHDSSVDQGRQOLQHSODWIRUPVDUHEHFRPLQJLQFUHDVLQJO\SRSXODUFKDQQHOVIRUSXUFKDVLQJDQGPDQDJLQJLQVXUDQFHSROLFLHVUHÀHFWLQJDVKLIWWRZDUGDPRUHFRQVXPHUFHQWULFDSSURDFK(FRQRPLF*URZWKDQG,QFUHDVLQJ,QVXUDQFH3HQHWUDWLRQ7KH0LGGOH(DVWLVH[SHULHQFLQJVXVWDLQHGHFRQRPLFJURZWKZKLFKLQWXUQLVFRQWULEXWLQJWRWKHH[SDQVLRQRIWKHLQVXUDQFHVHFWRU$VGLVSRVDEOHLQFRPHVULVHDQGOLYLQJVWDQGDUGVLPSURYHWKHUHLVDJURZLQJDZDUHQHVVRIWKHQHHGIRULQVXUDQFHFRYHUDJH7KLVKDVOHGWRDQLQFUHDVHLQLQVXUDQFHSHQHWUDWLRQDFURVVYDULRXVVHJPHQWVLQFOXGLQJOLIHKHDOWKDQGSURSHUW\LQVXUDQFH 2FWREHUZZZLQVLJKWVVXFFHVVFRP EÀ]PŸvPuŒP]vPdŒv 2FWREHUZZZLQVLJKWVVXFFHVVFRP *RYHUQPHQWVLQWKHUHJLRQDUHDOVRSOD\LQJDUROHLQGULYLQJLQVXUDQFHDGRSWLRQ0DQGDWHVIRUFHUWDLQW\SHVRILQVXUDQFHVXFKDVKHDOWKLQVXUDQFHLQVRPH*XOI&RRSHUDWLRQ&RXQFLO *&& FRXQWULHVDUHERRVWLQJRYHUDOOLQVXUDQFHSHQHWUDWLRQUDWHV6KLIWLQ&RQVXPHU%HKDYLRUDQG([SHFWDWLRQV&KDQJLQJFRQVXPHUEHKDYLRUVDUHLQÀXHQFLQJWKHLQVXUDQFHODQGVFDSH&XVWRPHUVDUHEHFRPLQJPRUHGLVFHUQLQJDQGH[SHFWVHDPOHVVGLJLWDOH[SHULHQFHV,QVXUHUVDUHUHVSRQGLQJE\LQYHVWLQJLQXVHUIULHQGO\LQWHUIDFHVRQOLQHFXVWRPHUVHUYLFHDQGSHUVRQDOL]HGR\ruHULQJV7DLORULQJLQVXUDQFHSURGXFWVWRPHHWWKHXQLTXHQHHGVDQGSUHIHUHQFHVRIFXVWRPHUVLVEHFRPLQJDNH\GL\ruHUHQWLDWRULQWKHFRPSHWLWLYHPDUNHW5HJXODWRU\5HIRUPVDQG*RYHUQDQFH5HJXODWRU\IUDPHZRUNVDUHHYROYLQJWRNHHSSDFHZLWKWKHFKDQJLQJG\QDPLFVRIWKHLQVXUDQFHLQGXVWU\*RYHUQPHQWVLQWKH0LGGOH(DVWDUHLQWURGXFLQJUHIRUPVWRHQKDQFHWUDQVSDUHQF\VWUHQJWKHQFRUSRUDWHJRYHUQDQFHDQGHQVXUH¿QDQFLDOVWDELOLW\ZLWKLQWKHVHFWRU5HJXODWRU\ERGLHVDUHDFWLYHO\ZRUNLQJWRVWULNHDEDODQFHEHWZHHQIRVWHULQJLQQRYDWLRQDQGVDIHJXDUGLQJFRQVXPHULQWHUHVWVFUHDWLQJDQHQYLURQPHQWFRQGXFLYHWRVXVWDLQDEOHJURZWK7KHLPSOHPHQWDWLRQRIVWULQJHQWUHJXODWRU\VWDQGDUGVLVQRWRQO\LPSURYLQJWKHRYHUDOOVWDELOLW\RIWKHLQVXUDQFHPDUNHWEXWLVDOVRIRVWHULQJFRQ¿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ÀHFWLQJDEURDGHUJOREDOWUHQGWRZDUGVXVWDLQDEOHDQGUHVSRQVLEOHEXVLQHVVSUDFWLFHV,QVXUHUVDUHLQFRUSRUDWLQJ(6*FULWHULDLQWRWKHLULQYHVWPHQWGHFLVLRQVXQGHUZULWLQJSURFHVVHVDQGSURGXFWGHYHORSPHQW7KLVVKLIWDOLJQVZLWKJURZLQJVRFLHWDODZDUHQHVVDQGH[SHFWDWLRQVIRUEXVLQHVVHVWRFRQWULEXWHSRVLWLYHO\WRHQYLURQPHQWDODQGVRFLDOFDXVHV,QVXUDQFHFRPSDQLHVDUHLQFUHDVLQJO\R\ru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nVHFRQRPLFGHYHORSPHQWDQGVRFLHWDOZHOOEHLQJ$VWKHLQGXVWU\FRQWLQXHVWRHYROYHDSURDFWLYHDSSURDFKWRLQQRYDWLRQFXVWRPHUFHQWULFLW\DQGVXVWDLQDEOHSUDFWLFHVZLOOEHNH\WRORQJWHUPVXFFHVV 2FWREHUZZZLQVLJKWVVXFFHVVFRP