Annual Review 2015

Purchasing Knowledge Experience Power

Market Technology Leading Firms

Accountability Collaboration Independence THE WBN VALUE PROPOSITION The Worldwide Broker Network provides Property & Casualty Insurance and Employee Benefits consulting through a unique combination of:

Local knowledge and experience in over 100 countries on 6 continents Top quartile firms, independently owned and managed Member-to-member accountability since 1989 Trustworthy cross-border collaboration State-of-the-art information management technology Combined purchasing power

Partner Firms: 107 KEY WBN Total Countries/Territories: 101 Partner Firms By Region: METRICS — Europe: 37 — Asia Pacific: 15 Combined Property & Casualty/ — Middle East/Africa: 13 Employee Benefits Consulting — North America: 33 Revenues Exceeding — South/Central America: 11 $5 Billion Associate Members: 9 MESSAGE FROM THE CHAIRMAN

Dear WBN Members, Insurer Partners, Sponsors and Colleagues: WBN is defined in different ways by many of you, our key constituents. However, if there was one word that summed up the value proposition on the page opposite this letter, it would be “collaboration”. Increased competitiveness through cross-border collaboration was the singular objective for WBN’s creation in 1989 by a handful of leading independent insurance brokers in Western Europe and it remains the basis of our existence today, in more than 100 countries on six continents.

Successful collaboration is, of course, centered Francie brings a 23-year career at AIG as a senior on the sharing of a common objective. At WBN Multinational Account Executive and Vice President this means much more than bringing together our of Global Commercial Distribution managing AIG’s collective knowledge and experience to provide the Independent Broker Network strategy. risk management, insurance and employee benefits As you can see, it’s been a productive year and, as solutions for clients with international operations. It I relinquish the Chairmanship in April, I am both means helping to assure the independence of our pleased with the progress and enthusiastic about the members, the professional growth of their staffs, direction for WBN as the world’s leading Independent individual member accountability to the network, Insurance and Employee Benefits network. branded insurance products and services, and a streamlined management of information between I thank you for your support over the past two years members and the clients they mutually serve. and for the privilege of chairing the Board of Directors. Progress was made on all of these fronts in 2015 and will continue in the years ahead as WBN expands its impact on the markets our members serve. A new Global Sponsorship Program is being unveiled to enable members and insurers alike to serve a growing and increasingly global client base, strengthen member firms to assure their independence and continuity, enable member firm staffs to grow professionally, and provide insurers with an efficient Markham McKnight distribution network for their products. A new, state- Chairman 2014–16 of-the-art technology platform—our third—is being unveiled to make client coverage information available March 1, 2016 24/7 to clients and the member firms serving them. We are increasing the flow of business from countries that previously only serviced incoming business, and we are expanding WBN’s Employee Benefits footprint and the WBN brand overall. To help sustain this growth in the years ahead, the WBN Board appointed Francie Starnes to the newly created post of President and Chief Operating Officer in mid-2015. Working alongside Chief Executive OfficerBruce Basso and the WBN Board,

1 · WORLDWIDE BROKER NETWORK MESSAGE FROM WBN’S EXECUTIVE OFFICE

To All WBN Members, Insurer Partners, Sponsors and Colleagues: As WBN moved into its second quarter century, collaboration continues to be the embodiment of our Network. Whether in meetings with members, their multinational clients, or insurers with whom we partner, we frequently hear comments about the unusually high level of involvement, enthusiasm and reliable commitment by WBN members. This does not come by accident.

It is a rare, if not unique, combination of character- investing valuable time and expense to attend these istics in the WBN Value Proposition that sets WBN conferences which, in turn, enables them to increase apart from other independent and owned networks. business activity. Collaboration is the key which, through strategic In 2015, these conferences were held in Washington, engagement, drives business activity and results. D.C., hosted by WBN Partner Rutherfoord and its This is achieved through: Chief Executive Officer, John Stanchina, and in 1. Two Global Conferences a year, the first Budapest, Hungary, hosted by WBN Partner Potter immediately preceding the annual RIMS conference Brokers and its co-founder, Dr. Zsolt Rózsahegyi. in the U.S., and the second in October and rotated Similar conferences are scheduled in 2016 for April around the regions of the world where a WBN in San Diego, again the site of the annual RIMS member serves as the local host. Each conference Conference, and October in Singapore as we rotate draws up to 250 owners, senior executives, and to Asia. These conferences have been at the core of producers from WBN member firms, as well as WBN since the first founders’ conference in Raitbach, insurance company executives for 2 ½ days of early Germany in 1989. Growth since its founding has been morning to late afternoon presentations, panels, stellar, with conference attendance increased 500%. thought leadership, multinational client team Two important elements in bringing us together at meetings and training among the WBN Partners. our Global Conferences are the “WBN Speakers’ These are followed by dinners at landmark locations Series,” initiated in 2012 to open our conferences of culture and history of the region, fostering still with high-level, thought-provoking discussion, and more networking and interaction. WBN members “Joining Hands Worldwide,” our group philanthropy take their participation in the network seriously, effort initiated in 2014. These are discussed later in

Attendees at our Washington, D.C. Conference in April received insights on the American political scene from political analyst and commentator Charlie Cook [left], while in Budapest, Prince George von Habsburg-Lothringen provided insights into the European Union’s complex issues.

2 · WORLDWIDE BROKER NETWORK WBN’s philanthropy program, Joining Hands Worldwide, was established in 2014. On the left, Dr. Zsolt Rózsahegyi of member Potter Broker presents a check to Gyöngyi Porkoláb and Anita Kovács of the Hungarian Hospice Foundation. At right, Joel Wood, founder of the Foundation to Eradicate Duchenne, receives WBN’s contribution from Chairman Markham McKnight. this report but we want to take the opportunity here to Board Member and Ensure CEO Eva Madsen hosted thank Mr. Charlie Cook, a nationally renowned political the gathering in Copenhagen, Denmark, while João analyst, and His Majesty Georg von Habsburg- Almeida-Santos, Director of Median Corretores, hosted Lothringen of Hungary for sharing their views of the 2016 session just completed in Lisbon, Portugal. today’s world with us. 3. Industry Leadership Forums provide important Furthermore, our collective contributions to the opportunities for members to meet industry peers, Foundation to Eradicate Duchenne and the insurer partners and each other. In 2015, WBN Hungarian Hospice Foundation allowed WBN to members attended both the Insurance and Employee participate in worthy causes around the globe. Benefits Leadership Forums sponsored by the Council of Insurance Agents & Brokers (CIAB), as well as the 2. In 2015, WBN hosted other important networking International Insurance Supervisors (IIS) meeting in events bringing together WBN members, insurer New York City. partners, sponsors, multinational clients and prospects. Our increasingly popular Pre-RIMS Reception was 4. WBN Steering Committees are formed as held in New Orleans, where 250 industry guests necessary around specific industries, products gathered in the famed Gallatoire’s Restaurant in the or issues with strategic carriers, enabling WBN French Quarter. producers to meet face-to-face with sponsoring insurers to promote specialized training, thought WBN Europe members hosted a similar reception for leadership and revenue growth. From such meetings over 100 WBN members and their multinational clients comes important multinational client feedback for during the biannual FERMA Forum held in Venice in insurers and vendors, helping in the creation of October. These events are among many of the industry products and services. gatherings at which WBN members promote their individual brand while promoting WBN as their global 5. Webinars during the course of the year covered solution for their multinational clients and prospects. subjects ranging from multinational insurance skills and professional development, to training sessions Spreading global knowledge and insight gained at the on WBN’s newest technology platform, WBNet 3.0… Conferences further drives collaboration and each powered by Origami Risk. [More about this in the member’s competitive edge in its regional market. Technology Section of this report.] In addition, WBN’s European Partners conduct an Annual Regional Meeting which attracts an average of WBN principals take their participation seriously, 100 members from 35 countries for a day-and-a-half extending involvement to many of the internationally- of topics strategic to their regional growth. In 2015, focused professionals within their firms through

ANNUAL REVIEW 2015 · 3 MESSAGE FROM WBN’S EXECUTIVE OFFICE their support of the Young Professionals Group. This country updates, legislative changes, emerging enables global knowledge to be spread to the next trends, global case studies, company product generation of each firm’s professionals. presentations, and mutual business development. Our new Global Sponsor Program also reflects the 12 Members Added on 3 Continents importance that Employee Benefits is playing as an Membership in WBN is highly selective, with many ever-increasing role in WBN’s multinational support inquirers expressing interest unable to meet our entry for our members, with AIG, AXA and MetLife being requirements. important contributors to this program.

Over the course of 2015, 12 new members joined 2015 A Record Financial Success WBN, each bringing with it a talented international staff that handles its multinational insurance and From the financial standpoint, WBN emerged from employee benefits clients. As indicated on the map 2015 in the strongest condition in its history. Network on pages 8 and 9, five of the firms operate from the revenues increased 19% in 2015 reflecting a 300% U.S., five from Europe and two from Africa. Expansion increase in the past five years, with the balance sheet continues in 2016, as we have added Clark Thomson in its strongest position during that term. in the U.K. and Belfor Property Restoration has As a privately owned association, financial data is become our 9th Associate Member. only revealed to our membership upon request. This brings the WBN network to 107 members in 101 However, the fact that WBN members now have countries on 6 continents. Our 9 Associate Members combined revenues in excess of $5 billion ranks the provide varied services to member firms in the related WBN network among the largest global insurance disciplines of worldwide captives; global engineering distribution systems in the world today. This is a services; risk management services; insurance significant number reflecting the strength of our brokerage management, analysis and mergers & members, the network’s purchasing power, as well as acquisitions; international legal services; actuarial marketing influence and operating efficiencies. services; forensic accounting; international employee benefits; and property restoration services. New Global Sponsorship Program Draws Great Insurer Support Employee Benefits WBN’s strategic engagement with key carriers with With our goal of offering a complete solution to whom we partner—both globally and regionally—has both members and their clients, Employee Benefits played an important role in our success. In addition has never held a more important position within to financial support, they provide access to senior WBN than it does today. Most WBN members have management at all levels of their firms, proprietary extensive Employee Benefits departments within products, thought leadership, and cross-border their firms, and 11 members specialize exclusively in training. Employee Benefits, as clients across the globe expand their operations and human resources into countries Over the years, sponsorships from a select group beyond their home borders. of insurers provided support around the world on a regular basis. To increase the investment return Reflecting this trend, the WBN Board of Directors to insurers, a more formal, structured Global includes three senior EB executives and our Global Sponsorship Program was introduced at year-end, Conferences include a separate agenda to review applicable for 2016 and beyond. It offers five levels of topics relevant to our EB members. These sessions support to a select group of global insurers, with levels are attended by 45 or more global Employee Benefits 1 and 2 fully committed by long-time sponsors AIG, professionals. Sessions at these conferences include Zurich, and AXA, respectively. Other sponsors already

4 · WORLDWIDE BROKER NETWORK committed throughout the program include Cigna, and will bring more member/insurer collaboration Starr, Lloyd’s of London, MetLife, United Healthcare on solutions to client needs. WBNet 3.0….powered Services, and QBE. by Origami Risk will be fully operational, bringing powerful, secure information technology to members Information Technology and their clients. WBN has always considered global information On the management front, Daniel de Swaan, Director management to be a key offering to our members at Meijers Assurantien in the Netherlands, will and their multinational clients. Our first iteration of become WBN Board Chairman at our San Diego WBNet was introduced in 1997, with an upgraded conference. He will succeed Markham McKnight, version designed in unison with Vertafore in 2000, President of BancorpSouth Insurance Services, and in 2015, a totally new platform—WBNet 3.0… whose two years in the role has seen WBN’s greatest powered by Origami Risk—was developed. This growth. state-of-the-art collaborative system is now being Within the Employee Benefits section, the new populated by WBN members with their multinational Steering Committee formed at year-end will further clients. Origami Risk has received strong industry develop WBN’s support in this area and a Director of support for its sophistication and has an insurance Employee Benefits will be named to guide continued industry reputation as the #1 Risk Management EB growth and engagement. We want to thank Information System. Andrew Sterngold for his valuable contributions as The platform is expected to be fully operational in Managing Director of Global Benefits and ongoing role the 2nd quarter. Be sure to read the section on this in leading Starboard International Consulting, a WBN critically important area on page 6. Associate Member. 2015 was a stellar year for WBN and we consider it Marketing Communications only a sign of things to come. WBN continued to expand its branding footprint in 2015, appearing in leading insurance industry publication ads and articles. Over the past two years, many sales tools have been created for use by WBN members with their multinational clients and prospects. These range from advertising in important media seen by insurance buyers, prospective members and insurers alike to an impactful video describing WBN’s value proposition from the Bruce Basso multinational client point of view. Chief Executive Officer For more and what is planned for 2016, please see page 7.

Looking Ahead 2016 promises to be an exciting year for WBN. Francie Starnes Based on inquiries we receive, our membership President and will continue to expand, including the very selective Chief Operating Officer addition of members in countries already represented on WBN’s map. The Global Sponsorship Program will March 1, 2016 further improve efficiencies at our Global Conferences

ANNUAL REVIEW 2015 · 5 TECHNOLOGY

Long a leader in providing management information store documents and run reports within an intuitive, tools to both members and clients, 2015 was a user-friendly, shared environment. To date, over 325 watershed year for WBN when it comes to technology. clients have been uploaded into the system and we As reported in last year’s Annual Report, the expect usage to continue to go up. WBNet 3.0 will Network’s global Technology Committee and Origami be one of our members’ competitive edges for 2016 Risk began developing a customized version of and beyond. Origami’s Risk Management Information System, In addition to WBNet 3.0, WBN will also be unveiling WBNet 3.0…powered by Origami Risk. Formed in its new website in Q3. The new website will have 2008, Origami Risk has consistently been considered “responsive design,” enabling the site’s layout to a leading provider of such systems and software. adjust to different types of devices ranging from The new web-based data management information smartphones to desktop monitors, and make it system provides secure, collaborative, customizable easier for WBN’s members, clients and prospects online views of international risks and employee to find what they are looking for. It will also facilitate benefits programs 24/7. Defined security levels member-to-member collaboration with a members- enable WBN service teams, risk managers, and only community forum, and keep members informed internal or external interested parties worldwide to with news from WBN, our members and sponsoring manage cross-border policy, claim and location data, carriers.

The dashboard for WBNet 3.0…powered by Origami Risk shows the depth and breadth of the platform. From here, the client, the producing broker and servicing brokers from around the world can access up-to-date information about any coverage—ranging from claims status and severity to policy expiry and open tasks. The online risk information management system is not only collaborative; it is customizable, has defined security levels and includes an easy-to-use report wizard. Tasks assigned to team members are visible on the screen and link directly to the policy, claim or location they relate to, and email reminders are sent when a task’s due date approaches.

6 · WORLDWIDE BROKER NETWORK YOUNG PROFESSIONALS

The YP Group is comprised of executives from around At year-end, Jamie Neumann, Hays Companies/U.S., the globe who, being under the age of 35, represent became chair of the group, with Matthew Serck, the next generation of key leaders in WBN member ADD NV/Belgium as vice chair, former chair Andrew firms. Cross-border collaboration is a priority area Fluitsma, Honan Group/Australia as vice chair and for the YP’s, working to drive business activity and Eva Madsen, Ensure/Denmark as liaison to the WBN exchange between member firms. Board. The Group also intends to establish a YP Advisory Board made up of graduates who pass the WBN is fully committed to the YP group, promoting age of 35. participation in Global Conferences, thought leadership and training. Now exceeding 50 members, Going forward in 2016, the Group will further refine its approximately 30 members attend each conference structure, expand its Conference presentation track, which, in turn, includes separate sessions dedicated and establish communication channels outside of to the group’s specific needs and interests. conferences—including regional webinars, a portfolio of case studies, course offerings from insurers, and a The group’s objectives include recommending new mentoring program. ways to attract and retain new talent, identifying educational offerings, fostering innovation within WBN We are proud of the group’s accomplishments to committees, and providing valuable assistance to date and look forward to its continuing growth and WBN initiatives. development. MARKETING COMMUNICATIONS

WBN’s formal Marketing Communications function to member firms, clients, prospects, insurers, completed its 2nd year in 2015 with a number of and media. highlights: — Preparations to introduce WBNefits Global — Increased advertising in insurance media in the Report, a bi-monthly newsletter for network U.S., Europe and Asia, including in special issues members and their clients. The first issue distributed by Business Insurance at the Risk appeared in February, 2016. & Insurance Managers Society (RIMS) annual — Internal communications on important issues conference in New Orleans and by Commercial ranging from regulatory changes with international Risk Europe at the FERMA Forum biannual implications to WBNet 24/7, keeping members conference in Venice, each the premier insurance across the network aware of progress as our new buyers’ conference on its continent. information management program, WBNet 3.0… — Translation of the popular video, “Why WBN powered by Origami Risk, is rolled out. in 100 Seconds,” into Spanish for use by — Publicity through the issuance of timely news the Network’s members in Spanish-speaking releases and editorial interviews in publications. countries in Europe and the Americas. To view our video “Why WBN in 100 Seconds” in All of these activities will continue in 2016, along english: www.wbnglobal.com/Why-WBN-in-100- with special projects designed to enable members to Seconds.html deliver the WBN brand at the point of contact with Para ver este video en español, haga clic aquí: clients and prospects. http://www.wbnglobal.com/por-qu%C3%A9-wbn- Special thanks to Peter Weber of Protección en-140-segundos.html Dinámica/Mexico for the video translation and to Tammy Cameron/Amanda Smith of Hylant Group/ — The first formal Annual Report, which was U.S. for advertising support during the year. distributed in both electronic and print formats

ANNUAL REVIEW 2015 · 7 Europe Members Added: – Arctic Insurance/Norway – Concentra/Spain – Contea Assurance/Denmark WBN Europe Region Sponsors – Integra Insurance/Turkey Reception at FERMA Forum – Söderberg & Partners/Sweden Venice, October 2015

North America Members Added: – AHT Insurance/Washington, D.C. – Associated Financial/Wisconsin – The Harry A. Koch Co./Nebraska – Risk Strategies Co./Massachusetts – Simkiss & Block/Pennsylvania

Semiannual Global Conference Washington, D.C., April 2015 WBN Pre-RIMS Reception New Orleans, April 2015 2015 HIGHLIGHTS ACROSS THE GLOBE 8 · WORLDWIDE BROKER NETWORK Semiannual Global Conference Budapest, October 2015

2015 Europe Region Meeting Copenhagen, February 2015 Belarus Added to WBN Map Through CINCo Joint Venture

Africa Members Added: – Ark Insurance/Nigeria – EPEGA/Morocco

Vietnam Satellite Office Opened & International Coordinator Appointed by ACROSS THE GLOBE Honan Group/Australia ANNUAL REVIEW 2015 · 9 COLLABORATION

Collaboration—essential when it comes to cross-border insurance and employee benefits—takes many forms at WBN. With 250 members and insurer partners gathering at two Global Conferences each year, WBN members make maximum use to partner face-to-face. This includes formal sessions each morning, breakout sessions in the afternoons, session breaks and dinner gatherings in the evenings. Similar activities occur at regional meetings and industry conferences.

10 · WORLDWIDE BROKER NETWORK WBN SPONSORS

WBN SPEAKER SERIES CHICAGO | MAY 2012 DENVER | APRIL 2014 Robert Benmosche, Chief Executive Officer, AIG David Stills, Vice President-Risk Manager Wal-Mart Stores, Inc. SHANGHAI | OCTOBER 2012 John Nelson, Chairman, Lloyd’s of London SANTIAGO | OCTOBER 2014 Hon. Evelyn Matthei, Former Chilean Minister SAN FRANCISCO | APRIL 2013 of Labor & Social Security, Former Senator Thomas Motamed, Chairman & Chief Executive Officer, CNA WASHINGTON, D.C. | APRIL 2015 Charlie Cook, Political Analyst ROME | OCTOBER 2013 Luigi Guiso, AXA Professor of Economics BUDAPEST | OCTOBER 2015 & Household Finance, Einaudi Institute for His Majesty Georg von Habsburg-Lothringen, Economics & Finance Archduke of Austria and Prince Royal of Hungary

ANNUAL REVIEW 2015 · 11 WORLDWIDE BROKER NETWORK

WBN CHAIRMEN COMMUNICATIONS ADVISORY COMMITTEE 1989–90 Olivier Favre (France) Europe 1990–91 Eric Kiefhaber (Austria) Bob Finch (AFL) Alex Gilmore (Price Forbes) 1991–93 Alec Finch (UK) Andrea Kuehne (Südvers Gruppe) 1993–94 Manfred Karle (Germany) Eva Madsen (Ensure) 1994–96 Douglas Smith (Scotland) Stefan Thurnherr (VZ Insurance) 1996–98 Wolfgang Koppitz (Germany) North America 1998–02 Jaap Meijers (the Netherlands) Cliff Caldwell (Ascende) 2002–05 Jacques Verlingue (France) Brian Hetherington (ABD) 2005–07 Alec Finch (UK) Josh Warren (Equity Risk Partners) Peter Weber (Protección Dinámica) 2007–09 Gary Griffiths (U.S.) 2009–10 Damien Honan (Australia) Central/South America Enrique Acevedo (Correcol S.A.) 2010–12 Neil Morrison (Canada) Priscila Conduta Elias (Harmonia Corretora de 2012–14 Florian Karle (Germany) Seguros) 2014–16 Markham McKnight (U.S.) Asia Pacific Daniel de Swaan (the Netherlands) 2016–18 Pavanjit Singh Dhingra (Prudent Insurance Brokers) Damien Honan/Andrew Fluitsma (Honan Insurance IT COMMITTEE Group) Kurt de Grosz (ABD, California) Brian Hetherington (ABD, California) Middle East & Africa Matthew Serck (ADD NV, Belgium) Elia Haddad (Holland Insurance Group) Bart Vanoorbeek (ADD NV, Belgium) Ken Maw (Insure Direct) Josh Warren (Equity Risk Partners, Illinois) Young Professionals Sandra Pelzek (Hays Companies, Minnesota) Celestina Cheung (Honan Insurance Group) Richard Yarborough (Hays Companies, Minnesota) Kim-André Vives (Südvers Gruppe) Alan Taylor (Honan Insurance Group, Australia) Sean Jackson (IMA, Inc., Kansas) Chair Pavanjit Singh Dhingra (Prudent Insurance Howard Kalt Brokers, India) Reinhard Riehl (Südvers Gruppe, Germany) YOUNG PROFESSIONALS Rainer Schuler (Südvers Gruppe, Germany) ORGANIZING COMMITTEE Dirk Wenning (Südvers Gruppe, Germany) Eva Madsen (Board of Directors Liaison) Aurore Livet (Verlingue Insurance, France) Jamie Neumann (Hays, North America), Chair Chair Andrew Fluitsma (Honan Insurance Group, Robert Sterngold Asia Pacific), Vice Chair Matthew Serck (ADD NV, Belgium) CIO Members Rolf Stoerr (Südvers Gruppe, Germany) GENERAL COUNSEL Geert Celie (ADD NV, Belgium) Mayer Brown LLP Brent Rineck (ABD, California) Terri Jensen (Holmes Murphy, Iowa)

12 · WORLDWIDE BROKER NETWORK BOARD OF DIRECTORS

JUAN CARLOS ARIAS company focusing on commercial insurance. He has Corporación Continental, grown Prudent to a company with 7 offices and 410+ Panama City, Panama professionals and over 2,000 clients. He has a Bachelor Juan Carlos has been Managing of Science degree in Computer Science from Columbia Director of Corporación Continental, University, New York. S.A. for 24 years. In 2013, he also ALAN FERGUSSON served as Vice President of the Board Mattioli Woods Group, Aberdeen, of the Association of American Chambers of Commerce Scotland, UK of Latin America in Washington, D.C.; President of The Board of the World Trade Center Panama; President of the Alan is responsible for the strategy American Chamber of Commerce and Industry of Panama; and development of employee and President and Board Member of the American benefits within the Mattioli Woods Chamber of Commerce and Industry of Panama (AmCham). Group, continuing the role he In 1995–96, he was an International Executive with started within Kudos Financial Services Limited, prior to Sedgwick Group in London. its acquisition in 2011. Alan has worked in the financial services industry since 1989 and has spent the last 17 years JOSE CONDUTA advising corporate clients on their employee benefits design, Harmonia/Howden Group, structure, implementation and ongoing administration. Sao Paolo, Brazil ALEC FINCH Jose is Chief Executive Officer of Corporate Secretary Harmonia, which he founded in AFL Insurance Brokers, 1981. It grew to become one of the largest independent insurance London, UK brokers in Brazil, offering a broad range of insurance A WBN founding member in 1989, solutions to its customers, which include individuals and Alec serves as the Board’s Corporate Brazilian and multinational companies from various sectors. Secretary. He is Chairman of AFL Harmonia was acquired by Howden in late 2014. Insurance Brokers Ltd and has worked in Lloyd’s and UK Regional markets for more than four decades. He also DANIEL de SWAAN is a Freeman of The City of London, a member of the WBN Board Chair-Elect 2016 Worshipful Company of Insurers (which combines business Meijers Assurantien B.V., and philanthropy), Deputy Chair of the Insurance Brokers’ Amstelveen, the Netherlands Standards Council, and he has served on numerous Daniel joined Meijers, a founding industry boards and committees in the UK and U.S. Alec member of WBN, as CFO in received the Lifetime Achievement Award in the 2008 UK 2005 and is responsible for all Broker Awards. staff activities in Finance, IT, HR, Facilities and Legal & WILLIAM GOLDSTEIN Compliance. In addition, he also heads up the private clients Integro Group team, Meijers Assuradeuren, the in-house underwriting New York, New York agent, and he serves as liaison between Meijers and Meijers Credit, the trade credit subsidiary. His prior experience was Bill is the Chief Executive Officer with Uni-Invest, a large real estate investment company in of Integro. Previously, Bill served Amsterdam, and in London with J.P. Morgan Investment as Integro’s Chief Financial and Bank’s Merger & Acquisitions team. Operating Officer. He joined the Company in 2006 and has more than 20 years of PAVANJIT SINGH DHINGRA financial management and operational experience in the Prudent Insurance Brokers, insurance industry. Prior to joining the Company, he was Mumbai, India a senior manager in PricewaterhouseCoopers’ Assurance Pavan is the CEO of Prudent Practice, where he specialized in leading audits of financial Insurance Brokers, the largest statements and conducting evaluations of internal controls independent Indian broking for public and non-public companies. Bill is a Certified

ANNUAL REVIEW 2015 · 13 BOARD OF DIRECTORS

Public Accountant, has an MBA from Rutgers University FLORIAN KARLE and completed a BA in history at the University of Vermont. Südvers Gruppe, Au bei Freiburg, Germany BRIAN HETHERINGTON Florian has been CEO and Managing ABD Insurance, San Mateo, Director of the Südvers Gruppe, California, U.S. one of the leading privately owned Brian is CEO and Co-Chairman of insurance brokers and sixth-ranked ABD, a specialty insurance and overall in Germany, since 2000. The Group generates about financial services firm serving global 300 million euros in premium and employs about 380 clients from their Northern California insurance experts in 6 branch offices around the country headquarters. Brian helped launch the ABD Team in 2012 and 6 locations in Austria. Südvers was one of the founding to focus on providing the best advocacy while leveraging members of WBN and Florian has served on the board technology for the benefit of both clients and the firm. With since 2003 and was chairman in 2012–14. 165 professionals located in San Francisco, San Mateo, San Jose, and Walnut Creek, the ABD practice areas EVA MADSEN include Employee Benefits, Retirement Services, Property Ensure International, & Casualty, Executive Protection, Private Client Services, Aarhus, Denmark and more. Eva is CEO of Ensure, which traces DAMIEN HONAN its roots to 1999 when the company Dahlberg Aarhus started as a part Honan Insurance Group, of the Dahlberg Group. A student Victoria, Australia of business, commerce and insurance at the Danish Damien started at Honan Insurance Insurance Academy, she began her insurance career in Group in 1984, helping to place 1996 as a broker with Aon in Denmark and joined Ensure’s Heavy Motor Insurance policies in successor firm in 2002. Today, in addition to serving Melbourne. With a vision to be a on WBN’s board of directors, she is responsible for the global insurance broker, in 1993, Damien purchased the Network’s Young Professionals Group. business and continued to diversify Honan Insurance Group from life, general and heavy motor insurance broking to KENNETH MAW include corporate and business insurance broking. In 2001, Insure Direct, Dubai, UAE Damien’s vision of becoming a global insurance broker Ken has been a leading figure in became a reality when the company became a member of the UAE Insurance Market, having the Worldwide Broker Network, which enabled the business resided in Dubai for over 30 years. to place insurance for international companies expanding Prior to establishing Insure Direct in to Sydney and to the Gold Coast in 2007, Brisbane in 2008, 2000, he headed HSBC’s Insurance New Zealand in 2009 and Singapore, Asia’s financial and Broking operation in Dubai, where he started his overseas insurance hub, in 2010. Today, the firm employs over 100 broking career. Ken has extensive experience in all areas people in three countries. A former Chairman of WBN, of insurance, particularly in Construction, Property, Damien is now Director-Asia Pacific. Engineering and Ports business. STEVE HYLANT Hylant Group, Toledo, Ohio, U.S. Steve is EVP at Hylant. In 1987, he formed and directed the Michigan office of the firm which traces its origins to 1935 and today is among the largest privately held insurance brokerage firms in the United States, with 700 employees in 14 offices in Florida, Illinois, Indiana, Michigan, Ohio, and Tennessee.

14 · WORLDWIDE BROKER NETWORK MARKHAM McKNIGHT joined VZ Holding AG in 1994 and was, inter alia, Head of WBN Board Chairman Insurance Advisory Services. He also serves as Chairman BancorpSouth, Baton Rouge, of the Foundation Boards of VZ Freizuegigkeitsstiftung, VZ Louisiana, U.S. Sammelstiftung, VZ Anlagestiftung and VZ Vorsorgestiftung 3a (VZ Vested Benefits Foundation, VZ Joint Foundation, VZ Markham was chairman of the Investment Foundation and VZ Pension Foundation 3a). Council of Insurance Agents and Brokers in 2008. He has been a DIRK VAN LIEMPT leading commercial insurance executive for three decades, ADD NV, Heverlee, Belgium serving as executive vice president of Wright & Percy Dirk was appointed CEO of ADD NV Insurance, one of Louisiana’s oldest and largest insurance in June 2013 as part of a broader agencies, from 1982–1994, and president and CEO of internal change in the structure of Wright & Percy Insurance from 1994 to 2005. BancorpSouth the insurance arm of the KBC Group. Bank, a subsidiary of BancorpSouth, Inc., acquired Wright & During his career, he has worked Percy in 2003. He has served as President of BancorpSouth both nationally and internationally in the insurance sector, Insurance since 2005. He has an MBA from Louisiana State including as Senior General Manager–Life & Pension University, serves as treasurer of the Louisiana Insurance Business of KBC Insurance. Since 2008, he has also Guaranty Association (by appointment of the Louisiana been a Member of the Board of Directors of Assuralia, the Commissioner of Insurance), and is a member of the board Belgian federation of insurance companies. of directors of the American Bankers Insurance Association. JAMES WATT JACK SHA Ascende, Houston, Texas, U.S. Worldwide Insurance Services, Taipei, Taiwan Ascende Founder and CEO Jim Watt sets and manages the firm’s Jack began his career as an strategic direction, provides his team insurance broker in 1966, working the insight and guidance to develop successively with Frank B. Hall, creative solutions that anticipate Johnson & Higgins, and Marsh & emerging needs, and oversees client engagement. He has McLennan International, all in their New York offices. In over 25 years of experience in the design, communication, 1981, he was sent by Marsh to open their China offices in administration and funding of employee benefits plans for Beijing, becoming the first insurance broker operating in startups to Fortune 1000s. Jim previously was a sales and that country. He was relocated to Hong Kong in 1984 and marketing senior account executive at CIGNA HealthCare again to Taiwan in late 1986. He obtained a Taiwan Broker in Los Angeles. In October 1993, he was instrumental in License in 1987 and was elected as the founding Chairman engineering the development of the first market-based of Taiwan Insurance Broker Companies Association in Health Insurance Purchasing Cooperative (HIPC). 1999. After Marsh closed its Taiwan and neighboring offices, Worldwide Insurance Services Enterprise Ltd., JOE WATTS (WISE) was established and operational on January 1, Holmes Murphy & Associates, 1988 as Marsh’s correspondent in Taiwan, replacing its Des Moines, Iowa, U.S. original company structure of a wholly owned subsidiary. Joe is a Vice President and Leader The relationship with Marsh ended in 1998 when Marsh of Holmes Murphy’s International acquired Johnson & Higgins. WISE joined WBN in 2003. Practice Group (HMA Worldwide) STEFAN THURNHERR as well as a leader in the Architects VZ Insurance Services, Zurich, and Engineers Design Professional Insurance Practice. Switzerland His 20-year career has been spent developing solutions and placing coverage worldwide from Latin America to Stefan is a Member of the Executive Asia, Africa, Europe and North America. His specialties Board and Managing Director of VZ include Architects and Engineers, International, Insurance Services at VZ Holding Mining, Construction, Railroads - Contract Review, Risk AG. He has been a Member of Assessment, and Insurance Placement. the Executive Board of the Company since 1998. He

ANNUAL REVIEW 2015 · 15 MANAGEMENT

BRUCE BASSO HOWARD KALT Chief Executive Officer Communications Director Bruce has over 40 years of insurance Howard has provided industry services experience that communications counsel to national combines extensive business and international companies in and operational expertise with multiple industries ranging from demonstrated leadership and Board- technology to insurance and level responsibility in both the national and international financial services for more than four decades. Before insurance communities. He co-founded and built ABD establishing Kalt Communications in 2009, he was Senior Insurance and Financial Services (ABD), a $186M Vice President and Group Leader at an international insurance brokerage, into one of the top 14 insurance public relations agency which acquired his 25-year-old brokers in the United States then acquired by Greater communications and investor relations firm in 2007. Bay Bancorp in 2002, and later by Wells Fargo as part of He has directed WBN’s communications efforts since its acquisition of Greater Bay Bancorp. In 1995, Bruce January, 2014. established the U.S. arm of WBN and has since served as CEO, Member of the Global Executive Committee, and ROBERT STERNGOLD Member of the Global Board of Directors. Director of Technology Robert has been WBN’s Technology FRANCIE STARNES Director since 2013, maintaining President and the WBN website and WBNet, Chief Operating Officer our online insurance collaboration Francie joined WBN in July 2015 software, for which he also provides as President and Chief Operating demonstrations at the request of WBN members. Officer following a 23-year career at Additionally, he developed and maintains WBN’s 360 Peer AIG, first as a Senior Multinational Review Surveys, WBN Conference Satisfaction Surveys, Account Executive, followed by 7 years as Vice President and sets up and manages the software application that of Global Commercial Distribution, where she managed is used at the semi-annual WBN Member Conferences, AIG’s Independent Broker Network relationships. She also as well as providing IT support for the WBN main office previously served as Director of Cross Selling at ALICO, administration. working closely with AIG’s Property Casualty and Benefits Division. SCHYLER TOLLMANN Administration/Office At WBN she is responsible for representing WBN in Management industry relations, promoting and expanding WBN Schyler joined WBN In 2012. In membership, carrier relationships, governance, conference addition to managing the Central development and member activities. Office and providing administrative support to the Management Staff, she coordinates the extensive activities involved with WBN’s primary meetings, including the semiannual Global Conferences and the midyear Board Meeting, as well as most of the communications with members, insurers and other stakeholders.

16 · WORLDWIDE BROKER NETWORK MEMBERS BY REGION

Central Office 1825 South Grant Street Suite 300 San Mateo, California 94402 U.S. Tel: +1-650-341-1600 www.WBNGlobal.com