2014 Annual seminar

The Nordic Association of Marine Insurers

Cefor Board of Directors as per 3 April 2014

Members: Personal Deputies: 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 Anne Systad, Codan Göran Skuncke Jan Limnell Petter Bøhler Jan-Hugo Marthinsen Lars Rhodin Jan Limnell Jonny Gangstad Scott Ørmen The Nordic Association of Marine Insurers

2012 : The year of the titans

The Nordic Association of Marine Insurers

Frequency all-time low

Claims frequency by size of claims The Nordic Association of Marine Insurers

Costly exceptions the new normal?

Claims per vessel by size of claims (USD) The Nordic Association of Marine Insurers

Pricing challenge

Ultimate partial and total claim cost per vessel The Nordic Association of Marine Insurers

Median values stable

Median claim cost (USD), claims in excess of a certain amount The Nordic Association of Marine Insurers

Coastal portfolio Number of vessels by type by year of exposure

12,000 10,000 8,000 6,000 4,000 2,000 0 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

Higher insured values = more volatile claim cost

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

Program

Shipping market outlook

Nicolai Hansteen, Senior Shipping Analyst, Pareto Securities

Marine insurance market outlook

Rolf Thore Roppestad, Chief Executive Officer, Gard

Sanctions due diligence

Prof. Dr. Dieter Schwampe, Dabelstein & Passehl

Light Well Intervention vessels - How they operate - Insurance; drawing the line between marine & energy

Håvard Ulstein, Managing Director, Island Offshore Georg Nygaard, Senior Underwriter Offshore Energy, Norwegian Hull Club

The Nordic Association of Marine Insurers