Athens September 3th 2011
MEETING OF HELLENIC ASSOCIATION OF INSURANCE COMPANIES
NOTES OF ATTENDANCE
Ioannis Pantelidis (IP) was the only Greek lawyer registered as a delegate to this conference. I was one of only three English solicitors to be registered (the others being Hermes Marangos of DAC and Costas Frangeskides of HFW). Not one German law firm was present. IP knew and was friendly with a large proportion of delegates attending. The Insuralex product was therefore the best represented legal presence, and had a very clear and distinct “USP”. Although in some cases there will be the challenge of overcoming existing relationships, there are clearly great opportunities to win work.
This was the 13th annual meeting. The meetings were originally intended to be a regional equivalent of the Monte Carlo Rendez Vous, focusing on Greece and the countries of Eastern Europe. There has been a trend in recent years for less of the Eastern European companies to attend and more of the international reinsurers.
In his opening address, Mr George Kotsalos, Chairman of the Board of the Hellenic Association of Insurance Companies, emphasised the opportunities arising from the expected reduced provision of welfare by the Greek State. In particular, the accident and health private insurance sector should be a beneficiary.
(To counter this, it appeared that the financial institution sector was very quiet with little new lending currently taking place).
The Greek market consists of direct insurers, rather than professional reinsurers (although some reinsurance is written in the larger companies). Accordingly, the objectives from the London representative’s perspective were as follows:
1. To explain Insuralex’ integrated service on reinsurance claims from Greek insurers into the London reinsurance market. These could be expected to be subject to Greek law and jurisdiction, for which Ioannis Pantelidis’ firm was excellently placed to advise. CPB would be available to assist in the provision of London market know how, and correspondence and negotiations with reinsurers in the London market.
2. To assist Greek insurers with any problems they may be experiencing with their London brokers.
3. To assist brokers in the Greek market with claims collections.
Relationship consolidated here with George Koumbas and Walid Abdo. Received instructions on small new matter.
Had excellent discussion with Andre Kaydan, Head of Marketing, Vienna office. Also with Bernhard Wolters, Manager for Life & Health, Europe, Koln office.
At the dinner, sat next to Blaise Galliard, Zurich office, Senior Casualty Underwriter.
Had good discussion with Yossi Sirote, General Manager, Israel Branch. Agreed to catch up with him in Tel Aviv.
Matrix Insurance Brokers
Had much to do with this company which was extensively represented at the conference. Through IP met Nicolaos Goulis, Board Member. Also met Gerry Tighe, Partner, Marinos Milas, in-house lawyer, and Elias Lardas, Senior Facultative Broker.
InterAmerican P&C Insurance Co SA
Met Thomas Brinkmann, General Manager, and his invitee, Tom Sackville, a healthcare insurance specialist who was a speaker at last year’s conference.
Met Aglaia Petseti, Director of Product Management.
Association of Insurance and Reinsurance Companies of Turkey
Sat next to Mehmet Kalkavan and Erhan Tuncay at dinner on the first night.
Sava Re, Slovenia
Introduced by IP to Srecko Cebron and Urska Jezersek.
Introduced by IP to Maria Aivazidou, Deputy Director.
Hellenic Insurance Association
Introduced by IP to Margarita Antonaki, General Manager, and Maria Farantou, Legal Adviser.
E M Manos, Loss Adjusters
Introduced by IP to George Djiakouris.
Objectives for next year
It was clear that there were many individuals present who were not on the delegate list. Similarly, some on the list many not have been present at the conference. However, working from the delegate list, the following individuals would appear to be promising “targets” for next time.
|Aigaion Insurance Co||Melpomeni Kalligeri, Manager Property, Liability and other lines|
|Allianz Hellas||Vassilios Vassilipoulos, Operations Manager, or|
|Theodora Kappa, Reinsurance Department|
|ATE Insurance Co||Stathis Hadjiossif, Managing Director, or|
|Annita Makrimisiou, Reinsurance Department|
|AXA||Errikos Moatsos, Operations Director|
|Chartis Hellas||Lykourgos Petrovas, O&S Claims Director|
|Demco Insurance Co||Dimitrios Xynogalas, Deputy GM, or|
|Antigone Perpinia, Deputy Manager, General Branches|
|EFG Eurolife||Ilias Apostolou, General Manager and Actuary|
|European Reliance Gen Ins Co||Theofanis Regoukos and|
|Pavlina Rentziou, both of the Reinsurance Department|
|Evima Group Ins Co||Vasileos Liagas, President or|
|Epameinondas Tsaourdas, Managing Director|
|(and Markos Katsoulakis)|
|Geniki Panelladaki Ins Mutual||Stathis Froussos, General Manager|
|Generali Hellas||Maria Kollyri, Reinsurance Department|
|Groupama Phoenix||Effie Koukla, Reinsurance Manager and|
|Bertrand Woirhaye, General Manager|
|ING/ING Life||Bram Boon, CEO|
|International Life||Periclis Livas, CEO (build on meeting with Aglaia Petseti)|
|Piraeus Insurance and Reinsurance||Marina Nikolaou, Technical Director|
|Syneteristiki Insurance Co||Dimitrios Zorbas, General Manager|
|Ydrogios Insurance Co||Lois Yianniri, Deputy General Manager|
Key amongst the brokers would appear to be the following:
|Aon Benfield||Alex Turner is clearly one of the most influential reinsurance brokers in the Greek market.|
|Marsh LLC Insurance Brokers||Panayotis Lisseos, Managing Director|
|Mega Brokers||Ioannis Chatzitheodosioy, Chairman and Managing Director|
|MDB Hellas Reinsurance Brokers||Fadi Boustani, Managing Director|
|Euromare Insurance Brokers AE||Vasiliki Drakou, General Manager|
Enhancing the impact of Insuralex marketing
This was an excellent marketing opportunity. The following are suggested to maximise the prospect of business if we attend next year, or for similar events:
– When delegates register for the conference, providing the name of their firm, they link it to the Insuralex network. Thus, for example, register as “Carter Perry Bailey LLP, Insuralex member”.
– Delegates should, in addition to their normal business cards, have business cards referring to Insuralex, for use on such occasions.
– In view of the slight complexity of explaining Insuralex and the type of work that we are capable of doing, we ought to have some form of document, perhaps a tri-fold, to hand over in meetings or provide by way of follow up.
– Whilst noting that there is much to be said for a fluid approach to bumping into people, I recommend that meetings should be set up in advance. The conference programme provided for only limited formal sessions. Meanwhile, on Day 1, from 12 noon until 2.00pm and from 4.00pm until 6.00pm, and on Day 2, from 12 noon until 5.00pm, the conference programme provided for “insurers’ and reinsurers’ meetings”. These took place either in private or in open-air cafes by the harbour. Meanwhile, the ferry trips, drinks parties and dinner provide good opportunities for mixing in an unstructured manner.
W J Sturge
Carter Perry Bailey LLP