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| Question and Answers | |||||||||||
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What Exactly Is HAIM’s Value Proposal? | ||||||||||
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HAIM offers the underwriting and market expertise as well as the combined capacity of its shareholders Hardy and Arig on each account. HAIM acts as a coverholder for Hardy’s Lloyd’s syndicate 382, offering high quality service and A+ (S&P) rated security to the insured. Arig will normally support Hardy as a retrocessionaire through a variable quota share arrangement. In the majority of cases, risks are shared equally. Alternatively, if preferred, the combined capacity may be employed by placing the business separately with Hardy and Arig through HAIM. |
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How Does HAIM Business Differ From Hardy’s Or Arig’s Own Accounts? | ||||||||||
The objective for HAIM is to write business that is complementary to the existing portfolios of its shareholders. Typically these are high value Energy and Property risks and Construction projects rated and placed within the international markets. Through HAIM, Hardy and Arig are able to offer their expertise and significant capacity at the doorstep of our business partners. |
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What Are The Prospects For HAIM’s Development And Growth Considering The Current Economic Slump? | ||||||||||
The Middle East is generally viewed as the region with the strongest growth dynamics in the near future. Despite the dampening effects of the current economic crisis, there are projects valued in excess of US$ 1.5 trillion in the pipeline. A number of MENA and Afro-Asia markets are supported by governments that have the funds to aggressively drive infrastructure and industrial development. This creates a knock on insurance and reinsurance demand, especially as the sheer size of many investments will require the engagement of global capacities. |
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What Benefit Can Clients Derive From HAIM’s Regional Presence? |
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| Today more and more reinsurance is being placed regionally rather than in the London Market. This is why large broking houses have been reassigning resources to the (re-) insurance hubs of Bahrain, Dubai, Qatar as well as Singapore or Hong Kong. HAIM creates an access point for one of the most respected Lloyd's Syndicates at your doorstep in conjunction with a long standing regional partner. The reinforcement of professional standards along with a strong focus on risk and capital management have made the Lloyd's market one of the best performers in our industry. Its expertise and diversity remain unrivalled. The challenge lies in the fact that most MENA markets tend to be extremely price driven; therefore, our clients should understand that the Lloyd's brand value comes at a certain price. In other words: HAIM will not simply compete on cheaper rates but on the quality and service that can be expected from the Lloyd's franchise. Hardy manage one of the best performing Lloyd's operations while Arig has unparalleled access to the MENA markets and beyond. Together, it makes for a winning combination. More importantly yet, they share a similar risk appetite and economies of scale. Each partner benefits from the other’s skills and talents. |
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