Gävle. CCIC, Innovative Cities Svenska Kommun Försäkrings AB Nidaros Forsikring. (Swedish Municipality Insurance Co Ltd)

Transkript

1 CCIC, Innovative Cities Gävle Svenska Kommun Försäkrings AB Nidaros Forsikring (Swedish Municipality Insurance Co Ltd) We insure your municipality

2 Nordic Municipal Insurance Market St. Erik Försäkring, Stockholm Stad St. Erik Livförsäkrings AB, Stockholms Stad Försäkrings AB Göta Lejon, Göteborgs Stad Oslo Försikring, Oslo Stad Svenska Kommun Försäkrings AB, 10 Municipalities Kommungaranti Skandinavien Försäkrings AB, 2 Municipalities Kommunassurans Syd, 46 Municipalities Stockholmsregionens Försäkrings AB, 21 Municipalities Förenade Småkommuners Försäkringsbolag FSFAB, 23 Municipalities 4,5 million inhabitants lives in municipalities who owns an insurance company 105 municipalities are shareholders in an Insurance company

3 Shareholders in the company Gävle 2003 Sundsvall 2003 Kiruna 2004 Piteå 2005 Uppsala 2005 SWEDEN Trollhättan 2005 NORWAY Trondheim 2005 Helsingborg 2006 Örnsköldsvik 2007 Umeå 2008

4 Svenska Kommun Försäkrings AB SKFAB (Swedish Municipality Insurance Co Ltd) Direct insurance company - established 2003 Owned by 10 municipalities The company insure the risks of our shareholders Purchaser of reinsurance for participating municipalities Co-ordinator and organiser for our municipalities loss prevention work Premium income is SEK ( approx 12,6 M EUR) Combined insured value is 172 billion SEK (approx 19 billion EUR ) Property, Liability, Directors & Officers, Fidelity, Motor (Norway) Results are reinvested in the municipalities loss prevention work

5 Incentives for municipalities to own an insurance company A tool to manage risk Coordinator for loss-prevention work Financial benefits Enhanced competence Product development

6 Success factors Our loss-prevention work Networks between the municipalities security departments Shareholders influence and participation at board level Feedback to municipal shareholders Possibility of refund (only for loss prevention work) Risk selection when new municipalities apply for joint ownership

7 Our loss-preventions programs We have risk seminars every year with the focus on different subjects. Risks in energy plants and bio fuel pellet facilities Loss prevention work in culture and recreation departments Risks and environmental hazards in water supply and wastewater purification Arson affecting public buildings Risk analyses and EML Risk Surveys for the largest individual risks Risk inventories on preschools, schools and housing for elderly Educate municipality staff

8 Financial benefits for our owners Targeted loss-prevention refunds SEK Equalisation reserves at SEK Total Financial benefits for our owners SEK

9 Reinsurance panel 2012 Reinsurance Companies 2012 Rating Standard & Poors Gjensidige Forsikring BA Rating: A Stable Allianz Global AG Rating: AA very strong Swiss Re Europe S.A Rating: A+ strong stable General Re Rating: AA+ strong stable IF Skadeförsäkring Rating: A stable Kommun Garanti Reinsurance S.A Rating: Not Rated

10 CCIC, Innovative Cities Gävle Kommungaranti Skandinavien Försäkrings AB Kommun Garanti Reinsurance S.A

11 Kommungaranti Skandinavien Försäkrings AB (KSFAB) Kommun Garanti Reinsurance S.A (KG Re) Municipality owned since 2009 by Gävle and Sundsvall Municipality Kommungaranti Group insures pension liabilities of our shareholders Swedish municipalities haven't funded for future cost of the pensions. A large pension liability is carried in the municipality sector. The purpose with the insurance companies are to build reserves to meet our owners pension liabilities. Asset management 1,1 billion SEK The registered office and head office are located in Gävle, Sweden and a subsidiary in Luxembourg

12 Gävle Sundsvall Gävle Sundsvall Shareholders Kommungaranti Skandinavien Försäkrings AB Shareholders Gävle Sundsvall 50 % 50% 100% Kommungaranti Skandinavien Försäkrings AB Insurance Cover Pension liabilities 100% Kommun Garanti Reinsurance S.A Reinsurance Market