Page 16 - Insurance Times February 2020

AIFN

LNPI@PBGDLNSLCNPK@\AL]IS@bB]SILJFNQ@LDDDCAPKLMFNHAL]IS@DABVFSIDCAPKLMIM@LAJIJ@RFHK@JFMPBCNHM[PI@LH@?ALY_@MLFJ_@chCA@GMCALNPI@DABJCPHM@M@RI@INHIA@HKI@PBNMCLNT@FNJF]FJCLSM@RIAI@LJJAIMM@HKFM@QLD[V@KBR@RI@LAI@SI]IALQFNQMCALNPI@DABJCPHM[@A@]FMFBN@HB@GLZI@FNMHB@RBAZ@PSBMIST@HBQIHKQ@PBNMCGIA@NIIJM@L
<=>=?@?ABj09kk&l2/+-&0(+4-&./*0&j2o,)bKCYY_@qCAFPKOYLMIJ@RBASJUM@SLAQIMH@DCYSFPST@HALJIJ@DABDT_@KLM@rBFNIJ@RFHK@?ALIA[@?ALY@FM@BNI@FN@XBCHKILMH[@\KIQ@\AL]IS@bB]IA@RFSS@YIM@BN@HKI@?ALY@LDD_@ILMFIA[@sBA@ILPK@AIDCAPKLMI@BV@HKLH@YIHGIA@FNCNFNMCA@?ALY`iI@LAICALNPI@LIA@HBPABMM@H

!%)(k&*2&1(9+60&m+8#''&n)(o,pIAHT@LNJ@PLMCLSHT@FNMCAOY@FN@BAJIA@HB@BV@HKI@BNI@BV@HKI@CMIAM@BV@?ALY@CMIAM@LYSI@HB@ML]I@HKIFAINLYSFNQ@HKI@VCHCAI\AL]ISFMMFBN@RFHK@?ALY`NMCAI@FMHIA@GIIH@HKI@I]IATOMCALNPI@GLAZIH[@hCAIJ@RKIN@HKIT@HAL]IS_NMCAIUM@DSLHVBAG@HB@DSILMIJ@HB@YI@RBAZOVVBAJLYSI@LNJ@ILMFST@IdDLNJ@HKI@DABJCPHKI@AIQFBN[e0(l(p(p&m-p(;/&w(+z&,;'p23,,-&*2&(o(/p&p/7,&",p*(&1/7,&m+-9)(+6,I@bBGDLNT@KL]I@MFQNIJ@LN

IGDSB

"#$#%&'()*+,)-&./*01/2345-&-3+4/6(*,&72)&),8/+-9)(+6,&(:),,;,+*CD@EFGFHIJ@KLM@LNONBCNPIJLQAIIGINHRFHK@ESBTJUMMTNJFPLHIFN@BAJIA@HBBVVIA@AIFNOT@YBBZ[@\KI@YI@DAB]FJIJ@HKABCQKLSHIMI@AFMZ@PLAAFIA_MCALNPI@LNJ@>IFNOM@L@HIMHFGBNT@HBHFNCIJ@QIBQALDKFPLS@LNJ@HALNMLPHFBNLS\FG@fBBHK_@bgh@BV@HB@KL]I@YIIN@LYSIV@HKI@SILJFNQ@ESBTJUMK@L@PSILN@IdFH@VABGNHFNCIJ@WX@YCMFNIMM[FGDAB]I@BDIALHFBNLSNJIARAFHFNQ@DABVFHO@PBNHFNCIM_@RI@IdO@FN@MCPK@HALNMLPHFBNMH@RI@LNJ@HKI@AIMH@BVIH@PLN@DAB]FJ
bB]IA_@HKI@CMIAM@RFSS@YI@AIRCNPLN_@tILJ@BV@`NMCALN@LPPIMM@HB@LVVBAJLYSI@FNV@XBCHKILMH@=MFLNM@LMILAPK@MKBRM@HKLH@GI@CNFuCIST@DSLPIJ@HB@A@FM@LN@IdLGDSI@BNB]LHF]I@vBNOJIGLNJU@FNYY@LM@HKIT@MKLAI@BC@iI@RFSS@PBNHFNCI@NJ@LJJAIMM@HKI@JFVVIAFNALNPM@BV@XKLKrLKLKFJCS@`MSLG_@^LNLV@HKI@fLNZ@LNJ@=JIISHL@EFVI@`NMCALNPI@bBIGINH@BN@YIKLSVLNFMLHFBNM[=YJCS@={F{_@=JJFHFBNLS@^LLFN_@^FLN@|CLGACS@tLMLN@bKBRJKCAT@LNJ@`GHFL{@W@=LV@WJJFNINH@RFHK
MCALNPI@VBA@L@WX@SFLYFSFHMCALNPI@RFSS<=>=?UM@^<=>=?@^LSHL@`NMCALNPI@abb[c\KFM@HALNMLPHFBN@F<=>=?UM@PBNGLAZIH@IdDLNMFBNPLDLYFSFHT_e@MLFJ@<=>=?@?ABCD[ciI@LAI@JISFQKHIJHB@LMMFMH@BNI@BYCMFNIMMIM@RFHMBGI@BV@FHM@JFMPB=M@HKI@NIIJ@HB@IVVFPFINPT@LNJ@CLYFSFHT@LH@ESBTJUMDIPH@LN@FNPAILMILNJ@KBDI@HKLHKI@SIQLPT@GLAZHALPHF]I@MBSCHFBNMZIH[@`@SBBZ@VBARGBAI@HALNMLPHFHCAI_e@KI@LJJIJ
\BG@<HB@DAB]FJIJLT@NIIJM@BPCMHBGIA@AILNJ@RI@LA\AL]IS@bB]IJISF]IA@FNFNQ@RFHK@bKCLPPIMMFYSI[BVVIAFNQ@LXKLKrLSLS@`MSLGF@LQAIIGINH@HB@DAB]FJI@FNMCTIIXB<LQAIBAQtBMM}FNIIH@=QLARLS_@bKFIV@^LAZIHFNQ@hVVFPIA@LNJ@<A@=MKAEHJ@RIAI@LSMB@DAIM@MFQNFNQ@PIAIGBNT[
HBA@VABG@<ISHL@EFVI@`NMCALNPI@bB@AQLNFMLHFBNM@LH@HKI
VABG@YBHK@B