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www.worldwiderisksolutions.com
Welcome to our Monthly Newsletter – August 2006
Talk Around the Bazaar

Not long after a number of foreign insurers are allowed to start operations in China, the CIRC raises the bar for new entrants and also stiffens some other rules

Ergo, the second largest German insurer  buys Isvicre in Turkey creating competition for their INI partner, Basak Sigorta

In the Philippines the rise in fees paid by insurance companies and brokers to the state could see commission percentages increasing

From 2007 non-life premiums in India will be de-tariffed in order to create more competition

AXA has said it is to look for acquisitions in the UK (Champagne producers in Hampshire?)

Rumours are growing that Russia may soon relax barriers to its insurance market

The Central Levy Fund at Lloyd’s will remain unchanged at 7% for next year

Generali has bought a majority shareholding in Orel-G in Bulgaria as part of its expansion plans in the region

Aviva buys the U.S AmerUs and gets into China by the back door

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What Clients Say

“Worldwide Risk Solutions not only has the 'What you Know' but also the 'Who you Know' and this has been a great advantage to us” 

“Their attention to our needs has enabled us to focus on core development issues”

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CONTACT US

BY POST
Worldwide Risk Solutions LLP
20 Blunts Wood Road
Haywards Heath
West Sussex
RH16 1NB, England

BY TELEPHONE
Telephone: +44 (0)1444 450 919
Mobile: +44 (0)7968 191 511

BY E-MAIL
info@worldwiderisksolutions.com

 

A New Force in International Insurance

Worldwide Risk Solutions is a U.K. based commercial organisation facilitating global business strategies and business development in the international insurance industry. For more information about us, please go to www.worldwiderisksolutions.com

International Strategies – How can they work profitably?

Groups of independent entrepreneurs working together on international business are rightly single-minded in their approach to providing high quality service to their clients. But when they out-source service to partners in foreign countries, they do not have the same grip on their clients. What sort of plans are in place to ensure the right level of service? Who pays for this? Who sets the rules and who enforces them?

If you do not have any agreed goals and objectives as to how to run a network, it is difficult to make your own growth plans work. This is especially true with international business where through language misunderstandings, cultural differences and market practices, you might not even realise that what you are expecting someone to do is like asking a mute violinist to sing an aria!

In this and the next series of e-newsletters we will look briefly at some of the criteria for successful networks:

VISION: why did the partners want to associate with like-minded firms in other countries?

VISION: are the reasons for creating an association one or more decades ago still valid?

VISION: do people really think it is possible to sit back and get rich by not doing anything but putting their name on a contact list?

VISION: has anybody got any better ideas?


If you have questions about global developments or if you wish to discuss your own international strategic plans, just give us a call (+44 (0)1444 450 919) or send us an e-mail (info@worldwiderisksolutions.com) and we will be happy to look at some of these questions and to start providing answers.
When was the last time you reviewed your network’s performance and partner satisfaction?

In many countries the law says that automobiles must be checked for roadworthiness once a year. We all know of a certain country which hankers after the State of the Union speech – just to be sure that there is accountability and answers to questions (mind you, it is not very objective!). The same should apply to groupings of commercial firms: are the reasons why the group was formed (the Vision) effective in generating benefits for the partners and their clients?  We will look at your organisation and if the Vision still makes sense, then you will still be on the right road. In our next e-newsletter we will look at the Mission.

See our Contact Details

George Worsley, Director
Worldwide Risk Solutions
Telephone +44 (0)1444 450 919
E-mail  info@worldwiderisksolutions.com 

© Worldwide Risk Solutions LLP 2006