1 / 33

Ocean Marine

Ocean Marine. Roger Howe, CPCU December 6 th 2004. Agenda. Ocean Marine Overview Lines of Business Results Recent Loss Activity Outlook. Historical Perspective. Marine Insurance is the Oldest Form of Insurance 916 BC – Rhodians initiated the concept of General Average

belden
Download Presentation

Ocean Marine

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Ocean Marine Roger Howe, CPCU December 6th 2004

  2. Agenda • Ocean Marine Overview • Lines of Business • Results • Recent Loss Activity • Outlook

  3. Historical Perspective • Marine Insurance is the Oldest Form of Insurance • 916 BC – Rhodians initiated the concept of General Average • Bottomry Bonds • 1688 – Lloyds • First American Insurance Corporation • 1792 Insurance Company of North America

  4. Global Premium & Growth TrendsUSD billions Source – IUMI 2004

  5. Ocean Marine Global Premium2003 • Geographic Split Source – IUMI 2004

  6. Global LOB Split2003USD Premium 14.83 Bn Source IUMI 2004

  7. 2003 Detail Geographic Premium WrittenUS$ Bn • Top Five Premium writers (by country) • 1) United Kingdom – 2.426B • 2) Japan – 2.083B • 3) United States - 1.558B • 4) Germany – 1.536B • 5) France - 1.129B Source: IUMI 2004 Lines – Hull/Cargo/Liabilities/Offshore Energy

  8. US PremiumUSD Bn Source: AIMU Calendar Year Operating Ratios Including Yachts (not included in IUMI numbers)

  9. US Premium Split by LOB2003 Source: AIMU 2003

  10. Lines of Business • Cargo • Bluewater Hull • Brownwater Hull and P&I • Offshore Energy • Marine Liabilities • Yachts

  11. Cargo

  12. Bluewater

  13. Brownwater Hull and P&I

  14. Brownwater Hull and P&I

  15. Offshore Energy

  16. Liabilities • Brief Description

  17. Yachts413 ft – “Octopus”

  18. 2003 CY Results – US MarketPremiums vs. Combined Ratio(USD Bn) Source: AIMU 2003 Calendar Year Operating Ratios

  19. 2003 CY Results – US Cargo MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios

  20. 2003 CY Results – US Ocean Hull MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios

  21. 2003 CY Results – US All Other Hull MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios

  22. 2003 CY Results – US P&I MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios

  23. 2003 CY Results – US Yacht MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios

  24. 2003 CY Results – US Primary Liab MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios

  25. 2003 CY Results – US Offshore MarketPremiums vs. Combined Ratio(USD Million) Source: AIMU 2003 Calendar Year Operating Ratios

  26. Recent Loss Activity

  27. Rigs in Path Of Ivan @ 9/15/04

  28. Structures at 9/15/04

  29. Ivan - Ensco 64

  30. Ivan - Murphy Medusa Spar

  31. Petronius VK786

  32. Recent Loss Activity

  33. Outlook • Current Market • Profitable in many classes • Offshore and Yachts presented CAT losses in 2004 • Quantitative Analysis • Actuarial • Cat Modeling

More Related