Property & Technical Lines - LATAM
During 2014 our Property book continued to develop satisfactorily and according to our long term plan. Results were highly satisfactory hand underline the business model, which we believe will allow us to trade successfully in all market conditions.
We have positioned ourselves in the niche Property excess of loss segment. Our book is now almost entirely non-proportional. We continue to practice very careful risk selection; searching for those accounts which present low hazard occupancies with top quality risk management practices and measureable catastrophe exposures.
Geographically we continued to expand our underwriting reach into markets where our presence has been traditionally low. We strive to expand and spread to achieve a better-balanced portfolio.
We are expanding our portfolio into CAR / EAR lines of business. We underwrite these segments very conservatively; concentrating on the medium sized contract works with no unduly excessive contract periods and extended testing periods. We in avoid wet risks and risks in our catastrophe critical zones.
We have an established business model backed by careful risk monitoring, attention to detail, robust pricing mechanisms and catastrophe aggregate recording that allows us to manage our book of business for maximum return on capital employed over the long term.