THE NORDIC ASSOCIATION OF MARINE INSURERS

Updated as per November 2015

MEMBERSHIP

Trade association for • Nordic marine insurance

companies• Foreign marine insurance

companies engaged in one of the Nordic countries

• Insurance companies that provide legal assistance to shipping/offshore companies

• Management companies for such insurance companies

THE NORDIC MEMBERS OF CEFOR ENGAGE IN:

• Hull and machinery insurance (ocean & coastal)

• Protection and indemnity (P&I insurance)

• Cargo insurance• Loss of hire insurance• Legal defence• War risks insurance• Offshore energy insurance• Builders’ risks insurance

Hull777.8 / 44.7%

P&I785.0 / 45.1%

Offshore Energy151.0 / 8.7%

Cargo26.8 / 1.5%

Cefor - Gross written premium 2014 - All linesTotal sum = 1,740.7 USD million

Gard253.6/ 33.6%

Norwegian Hull Club198.1 / 26.2%

Codan61.0/ 8.1%

The Swedish Club60.0 / 7.9%

HDI-Gerling53.0 / 7.0%

Alandia46.9 / 6.2%

If40.3 / 5.3%

Gjensidige27.3 / 3.6%

Møretrygd10.0 / 1.3%

Tromstrygd4.7 / 0.6%

Cefor - Gross written premium 2014 - Hull Total sum hull = 777.8 USD million

Gard663.6/ 84.6%Swedish Club

106.0 / 13.5%

Norwegian Hull Club8.0 / 1.0%

other Cefor members7.0 / 0.9%

Cefor - Gross written premium 2014 - P&ITotal sum P&I = 784.6 USD million

Gard83.8/ 57.3%

Norwegian Hull Club47.3 / 32.3%

The Swedish Club9.1/ 6.2%

If2.2 / 1.5%

HDI-Gerling2.0 / 1.4%

Møretrygd1.3 / 0.9%

Codan0.5 / 0.3%

Cefor - Gross written premium 2014 - Offshore energy Total sum hull = 146.1 USD million

SHARE OF WORLD FLEET – H&M

MARKET SHARE P&I

62%

28%

7%3%

UK

Nordic

Japan

US

Calls 2013:UK: 2.25Nordic: 1.03Japan: 0.26US: 0.09Total: 3.63 (USD billion)

P&I Clubs International GroupGross Calls 2013 (Premium) – Operational location

Organisation

General Meeting

Board of Directors

Administration:Helle Hammer (Managing Director), Viggo Kristensen (Legal Counsel),

Hilde Spro (Office Manager), Astrid Seltmann (Analyst/Actuary)

8 Forums:(1) Cargo, (2) Claims, (3) Coastal & Fishing Vessels, (4) Energy & Offshore,

(5) Plan Revision, (6) Statistics, (7) Technical, (8) Underwriting

WWW.CEFOR.NO

THE CEFOR MISSION

To serve the interests of our Nordic members by promoting quality marine insurance, through

• comprehensive statistics,• competence building,

• agreed all risks conditions, and• a common public voice.

THE ASSOCIATION SHALL ENDEAVOR TO:

1. Make available to its members appropriate statistics from the NoMIS database to support the activities of the individual members and the general objectives of the Association.

2. Contribute to the provision of educational programmes, securing adequate competence development and expertise among its members.

3. Facilitate continuous evolution of competitive Nordic marine insurance conditions in collaboration with customers, brokers, legal experts, trade associations and other relevant parties.

4. Influence the industry’s framework conditions.

NORDIC MARINE INSURANCE STATISTICS (NOMIS)

• Ocean & Coastal hull claims• 1985 – 2014• 339,000 vessel years• 81,000 claims

Distribution by type of vessel, 2014

FRAMEWORK CONDITIONS

Overall objective;

- to promote legislation and industrial policies that are conducive to a sustainable and prosperous Nordic marine insurance market.

EDUCATION

• Nordic Marine Insurance Education Programme – Intermediate level

• Nordic Marine Insurance Plan Training Courses

• Seminars

• (Webinars)

INSURANCE CONDITIONS

Comprehensive all risks conditions

Agreed document with five signatory parties

Version 2016 agreed October 2015

Comprehensive Commentary

www.nordicplan.org

App version available

TYPE OF INSURANCE CONDITIONS IN THE NOMIS OCEAN HULL PORTFOLIO 2014

More information: www.cefor.no