1. Financiers’ insurance due diligence
Distinctive. Choice.
CONSTRUCTION

2. Distinctive. Choice.
JLT is an international group of Risk Specialists and
Employee Benefits Consultants and one of the largest
of its type in the world. We offer a distinctive choice
to our clients and partners through our combination
of independence, scale and specialism.
As an independent business, we are able to operate
with autonomy and flexibility. We have the scale to
provide solutions to the complex demands of the world’s
leading companies and to deliver global servicing whilst
recognising that the needs of each of our clients is unique.
By developing highly specialised services, we provide our
clients with a depth of expertise and experience.
The value we create is driven through the personal
determination of our 6,200 highly motivated and
skilled people.

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The direction of due diligence
JLT has a dedicated unit specifically designed Our key objectives in providing insurance due diligence
advice are:
to cater for the needs of lenders and ECAs in
• to provide specialist and experienced personnel to review,
connection with the limited and non-recourse
assess and monitor the risk transfer process
financing of projects. Our Financiers’ Insurance
• to help ensure the insurance requirements of the loan
Due Diligence team has been providing advice agreement, throughout the construction and operational
since 1995, enabling our consultants to gain phases, are suitable and robust
immense experience with many diverse • to check that the insurance requirements, including the
projects. Our consultants are multi-disciplined credit rating of the insurers, are met, or any shortfalls
notified to the financiers and dealt with appropriately
across power, energy, natural resources,
• to minimise the commercial risk to the financiers, by
infrastructure and PPP/PFI projects around
checking that the key project exposures are optimally
the world. insured and financiers’ insurable interests are protected to
the maximum available extent required
• to reduce the workload of the financiers and their legal
advisers, in the insurance and risk management field.
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4. Experience
JLT has developed a successful formula for • risk and insurance analysis – we identify the insurable and
uninsurable risks faced by the project participants
servicing the needs of financiers of limited and
non-recourse projects. We have the necessary • contract analysis – our review of the project and financing
documentation and identification of risk ensures the
experience to respond to the insurance
insurance arrangements address such risks and are
demands of a project finance transaction, consistent and achievable
pre- and post-financial close and any
• the approach to insurance of the concessionaire and the
re-financing, including: award body – we can assist with the negotiation of
insurance cost sharing and future uninsurability provisions
• advising on the extent of risk transfer available within the
traditional and non-traditional insurance markets
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5. It is vital for financiers
to be secure in the
knowledge that the
borrower’s insurance
programme optimises
cover for project risks
• working with legal, technical and other advisers with regard
to the insurance requirements of the loan agreement
• meeting tight deadlines – we deliver quality reports
incorporating confirmation that the insurance conditions
precedent have been met
• the syndication process – we can assist as required with
information memoranda and speak at syndication
presentations.
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6. The Financiers’ Insurance
Due Diligence team
comprises consultants
who have worked on more
than 400 separate project
financed transactions

7. Project profile of due diligence
Projects located in Argentina, Austria, Bahrain, • over 125 UK PFI healthcare, transportation, schools,
prisons/police/judiciary housing, accommodation and
Belgium, Bolivia, Brazil, Bulgaria, Chile, China,
leisure projects
Colombia, Cyprus, Czech Republic,
• over 55 power projects (several involving portfolios of up to
Dominican Republic, Estonia, Egypt, France,
21 separate IPPs)
Germany, Greece, Hungary, Iceland, India,
• over 20 road projects
Indonesia, Italy, Ireland, Jordan, Laos,
Malaysia, Mauritania, Mexico, Netherlands, • over 42 wind power projects (including seven offshore)
Nigeria, Norway, Oman, Pakistan, Peru, • over a dozen oil and gas, LNG, petrochemical and
Philippines, Poland, Portugal, Qatar, Saudi pipeline projects
Arabia, Spain, South Africa, South Korea, • over 10 airport projects
Sweden, Russia, Taiwan, Thailand, Trinidad &
• eight wastewater projects
Tobago, Tunisia, Turkey, UAE, Uganda,
• nine space/satellite projects
Vietnam and the United Kingdom.
• various other light rail and railway projects, submerged
tube tunnels, steel plants, cement plants, aluminium
smelters, pulp mills and mining projects.
Whilst all due diligence is undertaken in English, within
the team we have speakers of French, Italian, Spanish,
Bengali and Hindi.
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8. Our clients include
• ABN AMRO • HSBC
• Ambac • HVB/Unicredit
• Barclays Bank PLC • ING
• Banco BPI • JBIC
• Banco Espirito Santo • KBC
• Bank of Ireland • KfW
• Bank of Scotland (HBOS) • Lloyds TSB Bank
• BNP Paribas • Macquarie Bank
• BayernLB • MBIA Assurance SA
• Calyon • Millennium BCP
• Citibank • Mizuho
• Corporación Andina de Fomento • NIB Capital Bank
• Den norske Bank • Prudential M&G
• Depfa • Royal Bank of Scotland
• Deutsche Bank • Samba
• Dexia Public Finance Bank • SG
• EIB • SMIF
• Fortis • Standard Chartered
• FSA • West LB
• Helaba • XL
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10. Distinctive. Choice.
JLT is an international group of Risk Specialists and
Employee Benefits Consultants and one of the largest
of its type in the world. We offer a distinctive choice
to our clients and partners through our combination
of independence, scale and specialism.
As an independent business, we are able to operate
with autonomy and flexibility. We have the scale to
provide solutions to the complex demands of the world’s
leading companies and to deliver global servicing whilst
recognising that the needs of each of our clients is unique.
By developing highly specialised services, we provide our
clients with a depth of expertise and experience.
The value we create is driven through the personal
determination of our 6,200 highly motivated and
skilled people.
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12. JLT Specialty Limited
6 Crutched Friars Lloyd's Broker. Authorised and Regulated by the Financial Services
London EC3N 2PH Authority. A member of the Jardine Lloyd Thompson Group. Registered Office:
Tel +44 (0)20 7528 4000 6 Crutched Friars, London EC3N 2PH. Registered in England No. 01536540.
Fax +44 (0)20 7528 4500 VAT No. 244 2321 96
www.jltgroup.com © January 2011 263001
CONTACTS
Martin Benatar (Team Leader) Chris Cook Sabbir Khandokar
Tel: +44 20 7558 3988 Tel: +44 20 7528 4409 Tel: +44 20 7558 3440
Mobile: +44 7920 586 342 chris_cook@jltgroup.com sabbir_khandokar@jltgroup.com
martin_benatar@jltgroup.com
Vivienne Dell’Aira Bromley Peter Symes
Warren Beardall Tel: +44 20 7558 3768 Tel: +44 20 7528 4096
Tel: +44 20 7528 4732 vivienne_dell’aira@jltgroup.com peter_symes@jltgroup.com
warren_beardall@jltgroup.com
Martin Dockrill Team Fax: +44 20 7528 4784
Cris Blakey Tel: +44 20 7528 4829
Tel: +44 20 7558 3443 martin_dockrill@jltgroup.com
cris_blakey@jltgroup.com