Issue | 

July 2, 2015

A.M. Best reaffirms ratings for AEGIS and AEGIS London

Thanks to your strong support of the underwriting measures we've taken over the past several years, we are pleased to report that A.M. Best has reaffirmed its “A (Excellent)” rating with “stable” outlook for AEGIS. A.M. Best stated in their report:

“The ratings reflect AEGIS’ excellent risk-adjusted capitalization and historically strong long-term financial performance. … AEGIS continues to demonstrate a strong market profile as evidenced by a high member retention ratio, an adaptive and highly responsive management team, and the continued expansion of programs within its corporate mission. AEGIS has a strong enterprise risk management program and a strategic planning process to improve operational decision making. These efforts were evidenced by a strong operating performance in the most recent five years… A.M. Best further notes AEGIS’ proven track record of developing long-lasting partnerships with its members and brokers.”

In addition, A.M. Best reaffirmed the “A (Excellent)” financial strength rating with a positive outlook for AEGIS London. As support for their reaffirmation, the A.M. Best analysts noted in their report:

“The syndicate writes a well-diversified portfolio consisting of both property and casualty business. Diversification has improved significantly in recent years, due to a combination of growth in new classes and a reduction in energy and utility lines, which previously dominated the book. Syndicate 1225 maintains a good business profile and considerable expertise in energy and utility insurance despite this reduction, supported by its association with AEGIS, which is a Bermuda-based mutual serving US utility and energy companies. … The syndicate has an excellent track record of good underwriting profits, as demonstrated by a 5 year historical weighted average combined ratio of 87%, significantly better than that of the Lloyd’s market (92%).”

Thank you for your support in helping us maintain these excellent ratings.

David Croom-Johnson named AEGIS London Managing Director

We are pleased to announce that David Croom-Johnson has been appointed to the role of Managing Director at AEGIS London, following the departure of Stuart Davies, who left last month to become Group Chief Executive Officer at Canopius. David is a long-time member of the Syndicate’s senior management team and he served as the Chief Underwriting Officer during a period when AEGIS London became one of the most respected and consistently best performing syndicates at Lloyd’s. David will be supported by a strong and senior team, many of whom have worked together at AEGIS London for a number of years. John Chambers, formerly Deputy Active Underwriter, takes on the newly created role of Director of Underwriting. Alex Powell has been named the new Active Underwriter, succeeding David, and a newly created position of Chief Operating Officer is currently in recruitment. Please join us in congratulating David and his team on their new roles. 

AEGIS cyber coverage and new underwriting team based in U.S.

We are pleased to announce that our cyber coverage will be underwritten by a new U.S.-based team effective July 1. The maximum capacity will remain unchanged with up to $50 million available for our CyberResilience+ product. The policy also provides Difference in Conditions (DIC) coverage which wraps around existing AEGIS property and excess liability programs to help provide back-to-back cyber protection of information technology and operational technology against cyber attacks, cyber terrorism and security breaches.

Our cyber underwriting team in New Jersey is led by Dawn Simmons, Vice President – Underwriting. Dawn joins AEGIS with 15 years of cyber experience, which includes managing the cyber products at Crum & Forster and previously at XL in Europe. We are also pleased to welcome Ho-Tay Ma, Underwriting Officer, to our U.S.-based cyber team. Ho-Tay has five years of cyber experience at The Hartford, and he will work closely with Dawn to tailor our cyber products and services to the needs of our members. Dawn and Ho-Tay will attend the Policyholders’ Conference in Nashville, and they look forward to meeting you. 

2015 AEGIS Policyholders' Conference – Nashville – register by July 6

We're on track for record-breaking attendance at the 2015 AEGIS Policyholders' Conference, which will be held Monday, July 20 through Thursday, July 23, at the Gaylord Opryland in Nashville, but there’s still time to sign up. The deadline for conference registration, and requests for tours and golf, is the close of business on Monday, July 6.
The deadline for hotel reservations at the Gaylord Opryland has passed, but please contact Leah Convery by e-mail or by phone at 201.508.2872, or Carrie White by e-mail or by phone at 201.508.2840, to inquire about reserving a hotel room.
The preliminary conference agenda is posted to the website, and includes our keynote speaker, Rudy Giuliani, the former Mayor of New York, and one of the world’s most respected leaders, who’ll share his thoughts on physical and cyber security. This year, we have three time slots for the Wednesday afternoon breakout sessions, instead of two, so you can attend up to three sessions if you'd like.
We will also host an AEGIS 101 Lunch and Learn for members and brokers who are new to AEGIS on Tuesday, July 21. There will be an open-mic period during which newcomers can ask any questions about AEGIS, and the informal lunch setting will encourage valuable networking.
AEGIS staff will be available to meet with members on Monday, July 20 and Tuesday, July 21. To schedule a meeting, please contact your AEGIS underwriter, loss control representative or claims representative.

The AEGIS reception on Wednesday evening at the iconic and historic Grand Ole Opry will feature Southern BBQ favorites from the world-famous Loveless Cafe, amazing music, and entertainment that you can only find in this vibrant and creative city. The tours will take full advantage of Nashville and include visits to the Country Music Hall of Fame, Johnny Cash Museum, an authentic Southern mansion, and the Frist Center for the Visual Arts, as well as tours that will let you sample the city's famous food and drink.

On Thursday afternoon, the AEGIS golf tournament will be held at The Gaylord Springs Golf Links. We will also be offering a fun afternoon at the Nashville Shores Waterpark or clay target shooting, followed on Thursday evening by an informal reception including musical entertainment at the Gaylord Opryland.
Conference registration is complimentary and attendees are invited to bring guests. Brokers must be connected with a current AEGIS member policy written through AEGIS in New Jersey to attend. AEGIS will reimburse one representative from each member company with a current AEGIS policy written through AEGIS in New Jersey for the cost of three nights' lodging at the Gaylord Opryland Resort & Convention Center. If you have any questions about your eligibility, please contact George Keefe by e-mail or by phone at 201.508.2797.
Please register now for the conference and submit your requests for tours and golf. The deadline is Monday, July 6. Please contact Leah Convery by e-mail or by phone at 201.508.2872, or Carrie White by e-mail or by phone at 201.508.2840, to inquire about reserving a hotel room.
We look forward to seeing you, your family and guests in Nashville!     

AEGIS Physical Security Seminar – October 6 to October 8

Please save the date for the AEGIS Loss Control Physical Security Seminar which will be held Tuesday, October 6 to Thursday, October 8 at the Omni La Mansion del Rio in San Antonio, Texas. The seminar will address physical security issues pertaining to surveillance and notification systems, and will focus on insider threats, obstacles that could help prevent facility damage, measures to help prevent unauthorized entry and apprehend potential attackers, and the psychological effect of terrorism.
Additional topics will include AGA (American Gas Association) and NERC (North American Electric Reliability Corporation) threat information, business continuity, the potential cost of a loss following an attack, and homeland security. We will also have an area for exhibitors who support the electric and natural gas industries to discuss how their products and services can assist utilities in maintaining secure operating systems.
AEGIS member company personnel from risk management, legal operations, maintenance, engineering and claims, as well as AEGIS brokers, are encouraged to attend. The registration fee for the AEGIS Physical Security Seminar is $495.
Registration and hotel reservations will open in August. If you have any questions about the program, please contact Scot Macomber, Vice President – Loss Control Utility Operations, by e-mail or by phone at 201.508.2739. For questions regarding the hotel or other logistics, please contact Leah Convery by e-mail or by phone at 201.508.2872.
We look forward to seeing you in San Antonio!