2014 annual seminar

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2014 Annual seminar The Nordic Association of Marine Insurers

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2014 Annual seminar. Cefor Board of Directors as per 3 April 2014. Members: Svein Ringbakken , DNK, Chair Leif Nordlund , Alandia Insurance, Vice Chair Arne Gangdal , Gjensidige Christen Guddal , Gard Tord Nilsson , The Swedish Club Hans Christian Seim , NHC Rickard Svensson , If - PowerPoint PPT Presentation

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Page 1: 2014 Annual seminar

The Nordic Association of Marine Insurers

2014 Annual seminar

Page 2: 2014 Annual seminar

The Nordic Association of Marine Insurers

Cefor Board of Directors as per 3 April 2014

Members:

Svein Ringbakken, DNK, ChairLeif Nordlund, Alandia Insurance,

Vice Chair Arne Gangdal, GjensidigeChristen Guddal, GardTord Nilsson, The Swedish ClubHans Christian Seim, NHCRickard Svensson, IfAnne Systad, Codan

Personal Deputies:

Göran SkunckeJan LimnellPetter BøhlerJan-Hugo

MarthinsenLars RhodinJan LimnellJonny GangstadScott Ørmen

Page 3: 2014 Annual seminar

The Nordic Association of Marine Insurers

2012: The year of the titans

Page 4: 2014 Annual seminar

The Nordic Association of Marine Insurers

Frequency all-time low

Claims frequency by size of claims

Page 5: 2014 Annual seminar

The Nordic Association of Marine Insurers

Costly exceptions the new normal?

Claims per vessel by size of claims (USD)

Page 6: 2014 Annual seminar

The Nordic Association of Marine Insurers

Pricing challenge

Ultimate partial and total claim cost per vessel

Page 7: 2014 Annual seminar

The Nordic Association of Marine Insurers

Median values stable

Median claim cost (USD), claims in excess of a certain amount

Page 8: 2014 Annual seminar

0

2,000

4,000

6,000

8,000

10,000

12,000

1997

1998

1999

2000

2001

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

Number of vessels by typeby year of exposure

Other

Tank (Chem./Prod.,LNG, LPG, OBO, Tank)

Passenger

Cargo (Bulk, Cargo,Container)

Fishing

From 2010 improved reporting by coastal marine clubs => increase in number of minor fishing vessels

Coastal portfolio

Page 9: 2014 Annual seminar

Higher insured values = more volatile claim cost

Partial claim cost per vessel by sum insured layer, incl IBNR

Page 10: 2014 Annual seminar

The Nordic Association of Marine Insurers

Program

Shipping market outlookNicolai Hansteen, Senior Shipping Analyst, Pareto Securities

Marine insurance market outlookRolf Thore Roppestad, Chief Executive Officer, Gard

Sanctions due diligenceProf. Dr. Dieter Schwampe, Dabelstein & Passehl

Light Well Intervention vessels- How they operate- Insurance; drawing the line between marine & energyHåvard Ulstein, Managing Director, Island OffshoreGeorg Nygaard, Senior Underwriter Offshore Energy, Norwegian Hull Club