Members Report: Trinity Insurance Brokers, Inc AAA Conference | 18 May 2018 Auckland, New Zealand Members Report: Trinity Insurance Brokers, Inc

AAA Members Report – Philippines Country: Philippines Name of Member: Trinity Insurance Brokers Membership details (update) - Annual Premium Turnover: US$ 30million - Number of Staff: 120 - Location: Manilla and Cebu Countries of Operation: Philippines

AAA Members Report – Philippines Professional Indemnity Details (2017) - Limit of Indemnity: PHP 20,000,000 - Legislative Requirements: PHP 10,000,000 - Insurers: Prudential Guarantee, Malayan Insurance, Pioneer Insurance, MAA General Assurance

AAA Members Report – Philippines Who regulates Insurance Brokers in the country: Insurance Commission What Insurance Broker and Agent Education Programs exists: None/courses are offered on voluntary basis How many Insurers operate in the country: 60

AAA Members Report – Philippines Market Conditions - Number of Insurers decreasing, increasing, stable: Decreasing - Insurance capacity decreasing, increasing, stable: Increasing - Premiums decreasing, increasing, stable: Increasing - Commissions decreasing, increasing, stable: Stable - Average Broker income percentage earned as fees: 15%

AAA Members Report – Philippines Number of Brokers decreasing, increasing, stable: Decreasing Overall level of Insurance Business decreasing, increasing, stable: Increasing Percentage of business controlled direct by Brokers: 60% Percentage of business controlled direct by insurers: 20% Percentage of business controlled by other outlets: 20%

AAA Members Report – Philippines Information Technology used by Brokers (including Internet): In house/Globe and Smart

AAA Members Report – Philippines Political issues at time of report: Town elections Economy at time of report: Economy grew by 6.8% of the first quarter of 2018

AAA Members Report – Philippines Member’s view of Insurance Broking over the next three years: Stable Any major issues to be resolved: Brokers agreement with Insurers Member’s principle activities over last year: Digitalization of operations Member’s planned activities over the coming year: Digitalization and training