DOCSLIB.ORG

“...Knowing Whether Two and Two Do Make Four…” with an International Client Portfolio, We Have Grown to Become the Leading Specialist P&I Brokers

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
“...Knowing Whether Two and Two Do Make Four…” with an International Client Portfolio, We Have Grown to Become the Leading Specialist P&I Brokers 2020/21 January Edition “...knowing whether two and two do make four…” With an international client portfolio, we have grown to become the leading specialist P&I brokers. Our unparalleled client-led approach is backed by a total commitment to a continuing investment in people and to the development of the Lockton Global Marine Network. The result is a unique and unrivalled service. P&I Market Review | 2020/2021 Booklet A Contents - Booklet A 1. Introduction p3 2. “The question is one of knowing p4 whether two and two do make four…” 3. Club Data p8 The American Club p10 Britannia p12 Gard p14 Japan p16 The London p18 North of England p20 Shipowners p22 Skuld p24 The Standard p26 Steamship Mutual p28 The Swedish Club p30 UK P&I Club p32 West of England p34 4. Non-International Group and p37 Fixed Premium Data P&I Market Review | 2020/2021 2 1. Introduction Welcome to our 2020 P&I Market Review! And what a year it has been - for us all. True to form, the P&I world has refused to shy away from the challenges posed this year The shift to the virtual office space during the pandemic has undeniably changed just about and provided unprecedented support to the shipping community throughout the COVID-19 every method in which we all work. Whilst we have been able to see only a handful of clients pandemic. The International Group of P&I Clubs has resisted a hardening market for several face-to-face, we are proud to have continued providing our unfaltering support to clients years and, perhaps if it were not for the pandemic, it would have held on for a few years and received your support in return. Hopefully, this Market Review supplies you with all the longer. However, almost all Clubs have conceded to announcing substantive general increases information you need to consider the upcoming P&I 2021/22 renewals and how we can assist. across the board. Whether or not these increases are needed remains a divided opinion between those who Alistair Rivers see record-level free reserves as a support mechanism to assist ship operators during these Lockton Global Head of Marine & Transportation difficult times, and others who accept the need for underlying premium rates to rise in response to a new claims cycle. One cannot directly compare the P&I market to the rapidly hardening H&M market without commoditising it; something which we ourselves would be hesitant to do given the stark difference in the nature and scope of both product and service. However, therein lies our role: to review, to analyse, to advise and to advocate for each of our clients’ individual interests, especially during such uncertain times. 3 1 | Introduction 2. “The question is one of knowing whether two and two do make four…” The 2019/20 policy year marked the beginning of a new, long anticipated claims cycle. “2020 Pool claims (claims in excess of USD 10m) are extremely high and are higher in development Whether right or wrong, the impression was that the Clubs played a waiting game by at this point when compared to 2018 and 2019. This will be the third year of higher than normal Pool announcing low general increases, or indeed none at all, testing how their finances would claims. All Clubs are facing pressure on their finances from their share of the collective Pool and this is a cope against the increasing number and cost of claims. significant cost that should not be overlooked.” (International Group Club Chief Underwriting Officer) The reliance on this strategy to retain existing and attract new business against other Clubs worked for some, but now seems to have reached breaking point. Further the hardening commercial market is impacting the Clubs’ own individual reinsurance purchasing (whether for within retention protection or for non-poolable covers) Last year, the average general increase across all Clubs “Our non-mutual extra cover facilities are under rate pressure for the second year due to increases from was 6.6%, with an achieved increase said to be close our reinsurers with the market looking to achieve 15-20% increases on good performing records with further hardening predicted later in the year. We can mitigate this by taking extra retention and will always to 3%. try to dilute any additional cost to our shipowners but the increases are substantial.” (International Group Club Head of Reinsurance) This year, the momentum of the new cycle appears to have increased; the Clubs have announced an average of 6% general increases across the International Group, and only three In previous years, Clubs have been fortunate to off-set many of these losses against the Clubs issuing a zero general increase. investment performance of their free reserves. However, no insurer should rely on such results as a sole defence against this cycle. COVID-19 has proven to be a reason why this is the case, Whilst the apparent need for more premiums may be disappointing news to the ship with many Clubs reporting losses anywhere between USD 50m and USD 100m in a matter operating community at large (our clients will take some comfort that we will be advocating of weeks due to the downturn in the worldwide stock markets – albeit with strong recoveries vigorously on their behalf), the claims performance and the threat of financial rating being made within a few months. downgrades seems to justify the need for more premium. Pool claims have deteriorated significantly, with the announcement of over 15 new claims, including the Gulf Livestock 1 tragedy off Japan, the Diamond Princess passenger COVID-19 quarantine, and the deterioration of claims from previous policy years, such as the Golden Ray. P&I Market Review | 2020/2021 4 This again caused the widening margins between the strength and performance of the And, of course, the financial results must also be balanced with the quality and flexibility of Clubs: those with defensive, low-risk portfolios were less affected than those with high-risk service received – no ship operator is likely to want either only one or the other. A strong exposures. Furthermore, those that chose to sell investments soon after the fall in a bid for financial result without the quality service required to support an operator in its time of need protection against further deterioration may not have made the same recovery as those is as unhelpful as a supportive service without adequate finances to pay those claims. that stood their ground. Much like the social and economic divide between peoples of entire nations exacerbated by the COVID-19 pandemic (which we comment on in more detail We cannot stress enough that we do not endorse or comment on the merit of these below), it seems that the same trend may arguably apply to the Clubs. practices, nor do we advocate for any one Club. But what is clear is that any result, whether it be an individual members’ record or an entire Club’s combined ratio, must be analysed, Against that background, it is now more important than ever to review results and analyse discussed, justified and reasoned. Only then can a client be fully comforted that they are the information being provided, rather than taking it at face value. The perfect example is partnered with a suitable Club / insurer. That is where we come in and what the role of a the combined ratio. The reasons for achieving a combined ratio are not harmonious across quality insurance consultant should be. the International Group; it will largely depend on the individual practices and strategy of that specific Club. The viral pandemic of COVID-19 has unquestionably changed everything for everyone – whether it be limited to the method of communicating or be a substantial change in work For example, Clubs with a flexible claims policy, rather than literally and strictly applying roles and businesses. The entire shipping industry is no exception and, one could argue, has the Rules as they are written is likely to have higher claims expenses and, therefore, a worse been more affected than many others. combined loss ratio. Or Clubs that adopt a ‘worst case scenario’ reserving practice are likely to have an adverse effect on an individual member’s renewal negotiations because the final The sector most hurt by the pandemic is undeniably the amount of their claims can only improve. On the other hand, it is likely to have a positive impact on that Club’s combined loss ratio because the basis on which renewal premium is cruise and passenger ferry business. calculated and budgeted is based on a worse-case scenario, so can only improve. Arguably, this is in contrast to a ‘most likely outcome’ reserving policy. Entire fleets have been laid up where it has been physically impossible to run services and with ever-changing air-bridges and quarantine impositions, it is difficult to estimate when services can be resumed. 5 2 | “....whether two and two do make four...” The offshore sector has faced a double hit of near historic low oil prices along with the contracts to reach a port where it is safe to travel, others potentially exposed to higher risk of general global uncertainty but thankfully, some sectors have been largely unaffected by transmission in ports where protective measures are less stringent than first thought and the the direct effects of COVID-19. Some may even have seen a benefit from, ironically for sheer anguish about boarding a vessel not knowing if, when or how to return to their families. example, the subsequent oil crisis which saw an increase in the movement of oil from the Middle East and the effective re-deployment of vessels as floating storage in response to the But it is in circumstances such as these that the advantages of the mutual system shine contango effect.
Load more

Recommended publications
  • Proposal of Candidates for the Corporate
    PROPOSAL OF CANDIDATES TO THE NOMINATION COMMITTEE: Didrik Munch. Born in 1956 and lives in Bergen. Munch is CEO of Schibsted Norge AS. Munch was CEO of Bergens Tidende AS from 1997 to Mette I. Wikborg. Born in 1963 and lives in Oslo. Wikborg is Director 2008. Previous positions include Division Director of the business market General, Ownership Department, Ministry of Trade and Industry, Norway at DnB and a police lawyer. Munch is Chairman of the Board of Bergens where she has held various positions. She was earlier lecturer at the Tidende AS, Aftenposten AS, VG AS, Schibsted Vekst AS and FINN.no AS. University of Oslo, Fulbright student at Harvard University, Advisor at the He is also member of the board of Lerøy Seafood Group AS, Grieg Star AS, Ministry of Finance and Consultant at McKinsey & Company. Member of Mowinckel Management AS and Mediebedriftenes Landsforening. Munch the Nomination Committee since 2009. Nominated for re-election. is a Cand. jur in Law from the University of Bergen and a graduate of the Norwegian Police University. Nominated for election. Rune Selmar. Born in 1959 and lives in Oppegård. Selmar is managing director of ODIN Forvaltning AS. Former head of department Financial Elin Merete Myrmel-Johansen. Born in 1973 and lives in Oslo. Myrmel- institutions and SME funds, Norfund, director of Rasmussengruppen Johansen is Director of Communications in Storebrand. She has been with in Kristiansand, Norway, Managing Director of Folketrygdfondet and the Storebrand Group since 2000, starting as a Management Trainee, has been employed by Saga Securities and Danske Securities. Selmar then holding positions as Internal Brand Manager, manager for Corporate is educated from the Norwegian School of Economics and Business Responsibility, Executive Vice President for Corporate Responsibility and administration (NHH).
    [Show full text]
  • 11.1.85 Official Journal of the European Communities No C 9/11
    11.1.85 Official Journal of the European Communities No C 9/11 Notice pursuant to Article 19 (3) of Council Regulation No 17 (') concerning Case TV/ 30.373 — P & I Clubs (85/C 9/03) 1. On 18 June 1981, 17 Protection and Indemnity 5. On 12 July 1984 the Commission sent to the Clubs (mutual non-profit-making associations P & I Clubs a statement of objections in which providing certain types of marine insurance), it stated that having examined the information the names and addresses of which are listed in available, it considered that there were grounds the Annex, notified to the Commission, in for finding that certain clauses of the IGA accordance with Article 4 of Regulation No 17, infringed the provisions of Article 85 (1) and the text of an agreement they intended to put did not satisfy the conditions for exemption into effect, with a view to obtaining negative contained in Article 85 (3). clearance or alternatively an exemption under Article 85 (3) of the Treaty. 6. On 27 July 1984 the P & I Clubs notified the text of a modified IGA (IGA 1984) for which The Agreement known as the International they requested negative clearance or alter­ Group Agreement (IGA) came into force on natively an exemption under Article 85 (3) of 8 December 1981. the Treaty. That text came into force on 31 July 1984. 2. After a preliminary examination, the 7. On 2 August 1984 the Commission informed Commission considered that the Agreement the Clubs that in the absence of an agreement contained a number of clauses that could not be on all the issues in the Statement of Objections exempted under Article 85 (3).
    [Show full text]
  • Gard : Bunkers and Bunkering
    A selection of articles previously Bunkers and published by Gard AS Bunkering 2 © Gard AS, January 2014 3 Contents Introduction ...................................................................................................................4 Bunkers contracts .........................................................................................................5 Low-sulphur fuels explained ........................................................................................6 USCG detains vessel for failure to use low sulphur fuel oil in the North American ECA .....................................................................................7 Turkey – New requirements for fuel oil sulphur content ...........................................8 Fuel handling and treatment on board ......................................................................9 EU – de-bunkered off-spec fuel is not waste ...........................................................10 Bunker Sampling ........................................................................................................11 Bunkers and bunkering - It’s nothing to do with your golf swing .........................12 Fines for burning non-compliant fuel in EU ports....................................................15 California low sulphur fuel changes 1 January 2014 ................................................16 North American ECA requirements after 1 August 2012 ........................................17 Canada implements North American ECA requirements .......................................18
    [Show full text]
  • Gard Rules 2021 (PDF)
    RULES 2021 Gard Rules 2021 Rules 2021 Revised edition July 2021 Copyright © 2021 Gard AS Graphic production: Bransdal Grafisk Cover photo: Willyam Bradberry/Shutterstock.com CLIMAWARE® The impact on the climate during the production of this printed matter is neutralised by supporting climate projects in developing countries, resulting in a corresponding reduction in CO2. Preface Contents Gard AS is acting as the agent of both Assuranceforeningen Gard Boards of Directors 8 -gjensidig- and Gard P. & I. (Bermuda) Ltd. Gard AS has prepared, and Office organisation – Contact details 10 the two associations’ Board of Directors have approved a joint set of Catastrophe telephone numbers 12 standard terms of cover for P&I risks (“Rules”) for the 2021 policy year. Out of office hours – Contact details 13 Rules P&I and Defence cover for ships and other floating structures 25 For entries in Assuranceforeningen Gard -gjensidig-, the insurer is Contents 27 Assuranceforeningen Gard -gjensidig-. Likewise, for entries in Gard P. & I. Rules 33 (Bermuda) Ltd, the insurer is Gard P. & I. (Bermuda) Ltd. Appendices 101 P&I and Defence cover for mobile offshore units 131 The Statutes of Assuranceforeningen Gard -gjensidig- and the Bye-Laws Contents 133 of Gard P. & I. (Bermuda) Ltd. are available on request and published on Rules 137 the Gard website. Appendices 183 Index 189 The Rules for the 2021 policy year which runs from 20 February 2021 to Standard Form Letters of Indemnity 197 20 February 2022 contains some alterations to the Rules which applied for the 2020 policy year. Further details of the alterations can be found in Circular no 15/2020 Amendments to Rules 2021 which was sent to the Members in January 2021.
    [Show full text]
  • Gard Management Report 2002
    24 The Gard P&I Annual Report 1 20th February 2002 CONTENTS HIGHLIGHTS 1 COMMITTEES AND BOARD 2 Membership 2 Retirements and elections 4 Meetings 6 REVIEW OF OPERATIONS 9 Summary 9 Tonnage 10 Premiums and calls 12 Contingency reserves 14 Claims 14 Fund management 17 Accounts 18 Loss prevention 23 Other matters 27 REPORTS OF THE AUDITORS 30 ACCOUNTS 32 GARD P&I 2002 1 Highlights SUMMARY CLAIMS Increased premium income, together with an improved claims The 2001 policy year shows signs of improvement compared picture, contributes to an improved result overall compared with the 2000 policy year, which was particularly claims with last year, notwithstanding losses on investments. The full intensive. The positive run off of claims for previous policy years estimated supplementary call is being levied for the second has increased, emphasising the conservative approach taken to successive year leaving the general contingency reserve the setting of claims reserves. marginally lower. Entered tonnage reaches record levels. ENTERED TONNAGE FUNDS The steady growth in tonnage continues and at the renewal at Total funds available to pay claims stand at USD 626 million. 20th February 2002 entered tonnage reaches record levels. GENERAL CONTINGENCY RESERVE INVESTMENT RETURNS Reduces by USD 5 million. Still below the lower end of the In an increasingly difficult financial climate, investments “comfort zone” set by the Committee. But, with the reserve at produced a disappointing negative return. USD 195 million, the Association remains financially strong. GARD SERVICES AS SUPPLEMENTARY CALLS The second year of operation has produced real benefits The full forecast supplementary call of 25 per cent has been to the Association, principally from marketing synergies and ordered for the 2001 policy year.
    [Show full text]
  • Bunkers and Bunkering April 2010
    A selection of articles previously Bunkers and published by Gard AS Bunkering 2 © Gard AS, March 2011 3 Contents Introduction .............................................................................................................................. 4 Hull and machinery incident - Consequences of using off-specification bunkers ............. 5 The importance of an efficient fuel oil treatment system .................................................... 6 U.S. Guidelines on MARPOL Annex VI ................................................................................. 8 Marpol Annex VI - New risks and challenges for owners and charterers ............................ 9 Marpol Annex VI - Solving the low sulphur issue ................................................................ 12 Warning - Fuel oil quality might be at stake ....................................................................... 15 Off-spec bunkers – Some practical cases ............................................................................ 16 Marpol Annex VI – Challenges in operating on low sulphur fuel ...................................... 18 Global lube oil and additive supply shortage ..................................................................... 18 Important changes to the new edition of the ISO 8217 Fuel Standard ............................ 19 Controlling bunker costs ....................................................................................................... 20 Liquid gold - Fuel oil and lubricating oil ............................................................................
    [Show full text]
  • 2001 CMI Yearbook .Pdf 1.97 MB
    YEARBOOK 2001 ANNUAIRE CMI YEARBOOK 2001 3 Table of contents TABLE OF CONTENTS PART I - Organization of the CMI PAGE NO. Constitution 10 Rules of Procedure 28 Guidelines for proposing the election of Titulary and Provisional Members 31 Headquarters of the CMI 32 Members of the Executive Council 32 President ad Honorem and Honorary Vice Presidents 34 Management Functions 35 Member Associations 39 Temporary Members 82 Members Honoris Causa 83 Titulary Members 83 Consultative Members 111 PART II - The Work of the CMI CMI 37th Conference Singapore 11-17 February 2001 Officers of the Conference 119 List of Attendance 120 Opening Session - Opening speech of the President of the CMI 171 - Address by Prof. David J. Attard, Director, IMLI 175 - Opening address by Prof. S. Jayakumar, Minister for Law and Minister for Foreign Affairs 177 Agenda of the Conference 181 Issues of Transport Law - Report of Committee A 182 - Resolution of the Conference 188 4 CMI YEARBOOK 2001 Table of contents Marine Insurance - Discussion Paper 189 - Report to the Plenary Session 203 - Resolution of the Conference 211 General Average - Report to the Plenary Session by the International Working Group 212 - Resolution of the Conference 213 Model National Law on Acts of Piracy and Maritime Violence - Report on the Conference Session 214 - Resolution of the Conference 223 Implementation and Interpretation of the 1976 LLMC Convention - Report of the Working Group 224 - Resolution of the Conference 230 - Report to IMO 231 Passengers Carried by Sea - Limitation against passenger
    [Show full text]
  • Cefor Annual Report 2001
    Z:DESIGN/GAZETTE cefor annual report 2001 STRUCTURE POSITION PURPOSE STABILITY Sjøassurandørernes Centralforening The Central Union of Marine Underwriters Oslo – Norway Postal address: P.O.Box 2550 Solli, N-0202 Oslo, Norway Visiting address: Hansteens gate 2 Phone: +47 23 08 65 50 Fax: +47 22 56 10 77 E-mail: [email protected] www.cefor.no Contents Withstanding change: The Kjøttvik maritime varde The Chairman’s Address..........................................................................................2 Three hundred and twenty meters above sea level on the island of Kjøttvik, Managing Director’s Report ..............................................................................4 70° 52 north, is the world’s northern- most maritime varde (Norwegian for The Norwegian Marine Insurance Market 2001 ............................6 landmark). A navigational landmark from the 19th century, the Kjøttvik varde Twentyfive in Twentyten… ................................................................................10 has encountered nature and man’s harshest attacks. Presentation of Cefor Members ................................................................14 Three years after the varde’s construction in 1853, the area surrounding Ocean Hull ........................................................................................................................24 Kjøttvik was hit by the worst hurricane in Norway’s history. Later in 1945 at the close of WWII, the varde narrowly escaped the bombs of retreating Norweigian Marine Insurance Statistics
    [Show full text]
  • Þjónusta Án Starfsstöðvar (Providing Services Without an Establishment)
    LISTI YFIR ERLEND VÁTRYGGINGAFÉLÖG sem hafa tilkynnt að þau munu veita þjónustu hér á landi án starfsstöðvar eða setja upp útibú. A list of registered foreign insurance companies that are authorized to provide services without an establishment or have opened a branch in Iceland. Translation: (Skaðatryggingar = Non-life) (Líftryggingar = Life) (Stóráhætta = Large risk) (Greinafl. = Classes) Félögin hafa heimild til að starfrækja útibú eða að veita þjónustu hér á landi án starfsstöðvar, sbr. 124. og 126. grein laga um vátryggingastarfsemi nr. 100/2016, í þeim greinaflokkum vátrygginga sem tilgreindir eru, en heiti greinaflokkanna er að finna í 20. og 21. gr. laganna. Útibú (Branch): Allianz Lebensversicherungs AG- Reinsburgstr. 19 D-70178 Stuttgart Germany Líftryggingar, gr. II og III. Allianz Ísland Söluumboð hf. Dr. Christian Cassebaum Dalshraun 3 220 Hafnarfjörður Allianz Versicherungs AG Königinstr. 28 D-80802 München Germany Skaðatryggingar, greinafl. 13, 16 Allianz Ísland Söluumboð hf. Dr. Christian Cassebaum Dalshraun 3 220 Hafnarfjörður Þjónusta án starfsstöðvar (Providing services without an establishment): Society of Lloyds (also trading as Lloyds of London) One Lime Street London EC3M 7HA England Skaðatryggingar, greinafl. 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, 12, 13, 14, 15, 16, 17, 18. Líftryggingar, greinafl. I. Travelers Casualty and Surety Company of Europe Limited 1 Pullman Place, Great Western Road Gloucester Gloucestershire, GL1 3EA England Skaðatryggingar, greinafl. 1, 2, 3, 4, 5, 6, 7, 8, 9, 11, 12, 13, 14, 15 og 16. FM Insurance Company Limited Southside, 105 Victoria Street London SW1E 6QT England Skaðatryggingar, greinafl. 1, 2, 4, 5, 6, 7, 8, 9, 11, 12, 13, 14, 15, 16 og 17.
    [Show full text]
  • Gard Rules 2018 Rules 2018
    Rules 2018 Gard Rules 2018 Rules 2018 Copyright © 2018 Gard AS Graphic production: Bransdal Grafisk Printed in Denmark by Rosendahls CLIMAWARE® The impact on the climate during the production of this printed matter is neutralised by supporting climate projects in developing countries, resulting in a corresponding reduction in CO2. Preface Contents Gard AS is acting as the agent of both Assuranceforeningen Gard Boards of Directors 8 -gjensidig- and Gard P. & I. (Bermuda) Ltd. Gard AS has prepared, and Office organisation – Contact details 10 the two associations’ Board of Directors have approved a joint set of Catastrophe telephone numbers 12 standard terms of cover for P&I risks (“Rules”) for the 2018 policy year. Out of office hours – Contact details 13 Rules P&I and Defence cover for ships and other floating structures 29 For entries in Assuranceforeningen Gard -gjensidig-, the insurer is Contents 31 Assuranceforeningen Gard -gjensidig-. Likewise, for entries in Gard P. & I. Rules 37 (Bermuda) Ltd, the insurer is Gard P. & I. (Bermuda) Ltd. Appendices 105 P&I cover for mobile offshore units 135 The Statutes of Assuranceforeningen Gard -gjensidig- and the Bye-Laws Contents 137 of Gard P. & I. (Bermuda) Ltd. are available on request and published on Rules 141 the Gard website. Appendices 178 Index 183 The Rules for the 2018 policy year which runs from 20 February 2018 to Standard Form Letters of Indemnity 193 20 February 2019 contains some alterations to the Rules which applied for the 2017 policy year. Further details of the alterations can be found in Circular no 8/2017 “Amendments to the Rules 2018” which was sent to the Members in January 2018.
    [Show full text]
  • ASSURANCEFORENINGEN GARD -Gjensidig
    ASSURANCEFORENINGEN GARD -gjensidig- Annual report and accounts for the year to 20 February 2015 Assuranceforeningen Gard - gjensidig- Table of content The Board of Directors and the Supervisory Committee 2 Report of the Supervisory Committee 3 Report of the Board of Directors 4 Income statement 9 Balance sheet 10 Cash flow analysis 12 Comments and notes to the accounts 13 Auditor’s report 63 Assuranceforeningen Gard - gjensidig- The Board of Directors and the Supervisory Committee The Board of Directors Trond Eilertsen, Chairman, Oslo Tadeusz Niszczota, Deputy Chairman, Polish Steamship Co., Szczecin Ian Beveridge, Bernhard Shulte, Hamburg Morten W. Høegh, Leif Höegh (UK) Ltd., London Jane Sy, Stolt Tankers B.V., Rotterdam Rolf Thore Roppestad, Managing Director, Arendal The Supervisory Committee Stephen Knudtzon, Chairman, Oslo Helge Aamodt, Bergshav Management AS, Grimstad Claus Mørch, Anders Wilhelmsen & Co AS, Oslo Arne Falkanger Thorsen, Oslo 2 3 Assuranceforeningen Gard - gjensidig- Report of the Board of Directors INTRODUCTION The Board of Directors hereby submits the report and accounts of Assuranceforeningen Gard - gjensidig - (the “Association” or the “C ub”) for the 2014 financia year, covering the 12 month period to 20 February 2015. This is the Association’s 10, th year of business. In the opinion of the Board of Directors this report and accounts for the year to 20 February 2015 gives a true and fair vie. of the Association’s assets, iabi ities, financia position and resu t. Statutory minimum re0uirements .ith regard to technica reserves and so vency margins, are comp ied .ith. Further, the Association has at the ast years’ rene.a s achieved the budgeted genera premium increases.
    [Show full text]
  • Updated Alien Insurer Contact Information.Xlsx
    Quarterly Listing of Alien Insurers - Contact Information Allianz Global Corporate & Specialty SE Königinstrasse 28 Munich Germany D-80802 US Legal Rep: Alison La Field Allianz Global Corporate & Specialty 1465 N. McDowell Blvd., Suite 100 Petaluma, CA 94954 415.899.4755 [email protected] Company Contact: Eva Mueller Job Title: Technical Accounting +49 89 3800 6996 [email protected] Ally International Insurance Company Ltd Victoria Hall 11 Victoria Street Hamilton HM11 Bermuda US Legal Rep: Pete Mellos 500 Woodward Avenue 14th Floor Detroit, MI 48226 313-656-5660 [email protected] Company Contact: Mike Brown Job Title: Director, Ally Insurance 248-263-6954 [email protected] American International Group UK Limited The AIG Building 58 Fenchurch Street London EC3M 4AB United Kingdom US Legal Rep: Joe DeMauro 80 Pine Street, 6th Floor New York, NY 10005 (212) 458-8006 [email protected] Company Contact: James Bushell Job Title: Senior Consultant [email protected] AmTrust International Underwriters DAC 40 Westland Row Dublin 2 Ireland US Legal Rep: Barry W. Moses 5800 Lombardo Center Cleveland, OH 44113 (216) 328-6216 [email protected] Company Contact: Michelle Lukungu Job Title: Director of Bureau & Financial Reporting (216)-328-6174 [email protected] Arch Insurance (UK) Limited 5th Floor, Plantation Place South 60 Great Tower Street London EC3R 5AZ United Kingdom US Legal Rep: John Emmanuel Locke Lord LLP 200 Vesey Street, 20th Floor New York, NY 10281 212-912-2879 [email protected] Company Contact: James Gibson Job Title: Compliance Manager +44 (0)20 7621 4500 [email protected] Argo Re, Ltd.
    [Show full text]