Norwegian Marine Insurance Statistics

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Norwegian MarineInsurance Statistics
Underwriting Year 1990 - 2000 as of 31st December
2000
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Index 1. Introduction 2. Fleet
characteristics 2.1 Number of 2.1.1 fleets and
vessels per underwriting year 2.1.2 vessels
per type of vessel 2.1.3 vessels per
classification society 2.1.4 vessels per
flag 2.2 Total (F)DWT 2.2.1 per underwriting
year 2.2.2 per type of vessel 2.2.3 per
classification society 2.2.4 per flag 2.2.5
per size group 2.2.6 per age group 2.3 Average
age 2.3.1 per underwriting year 2.3.2 per
type of vessel, 1999 2.3.3 per classification
society 2.3.4 per flag 2.3.5 Age structure per
classification society in 1999 and 2000
Page I
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
3. Insurance/Premium report 3.1 Total sum
insured 3.1.1 per underwriting year 3.1.2 per
type of vessel 3.1.3 per size group 3.1.4 per
age group 3.1.5 per classification society, 6
largest 3.1.6 per flag, 8 largest 3.2 Total
premium 3.2.1 per underwriting year 3.2.2 per
type of vessel 3.2.3 per size group 3.2.4.
per age group 3.2.5 per classification society,
6 largest 3.2.6. per flag, 8 largest
Page II
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
4. Casualty report 4.1.1 Total claims per
underwriting year 4.1.2.a Number of claims per
type of vessel 4.1.2.b Cost of claims per type of
vessel 4.1.3.a Number of claims per age
group 4.1.3.b Cost of claims per age
group 4.1.4.a Number of claims per type of
casualty 4.1.4.b Cost of claims per type of
casualty 4.1.5 Number of claims per type of
casualty - Period 1995 - 1999 4.1.6 Cost of
claims per type of casualty - Period 1995 -
1999 5. Underwriting results and
trends 5.1.1 Underwriting results as of
31.12.2000 - Total results for all risks
registered by NoMIS 5.1.2 Underwriting results as
of 31.12.2000 - Average results per vessel per
underwriting year 5.2.0 Calculation methods for
Index key factors and Rating Development 5.2.1 Ind
ex key factors 5.2.2 Rating development 5.2.3 Adj
usted rating development 5.2.4 Average deductible
development
Page III
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Introduction The Norwegian Marine Insurance
Statistics (NoMIS) is a co-operation between four
of the members of the Central Union of Marine
Underwriters (CEFOR) for the purpose of compiling
and processing statistical information. Until
1997 the data was compiled by appointing NoMIS a
compulsory facultative reinsurer to which the
member companies ceded 0.1 of their hull and
machinery insurance. In addition to the regular
information about premiums and claims exchanged
on bordereaux, the lead insurer provided NoMIS
with a detailed breakdown of each claim. Since
1990, this improved material has been available
to the members of NoMIS, providing statistics and
analyses enabling them to enhance their
underwriting and risk assessment. In 1998 it was
decided to discontinue the facultative insurance
agreement in favour of updating the NoMIS
database electronically. The consequent necessary
amendments to the database as well as the
routines for updating were developed in 1999 and
tested by the members in cooperation with CEFOR.
In 2000 a further step was taken to restructure
the database, such that from underwriting year
1995 all business underwritten by the NoMIS
members is now updated electronically. This
enables the NoMIS members to show up to date
figures per 31. December 2000 for all
Underwriting Years. As of 31 December 2000 the
NoMIS database comprises 48,100 vessel years and
18,700 claims. This report contains statistics
based on both Norwegian and International
business for the period 1990-2000.
Page 1.1.1
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
All presentations are in USD and the figures have
been converted from the original currencies into
USD based on the rate of exchange applicable -
Premiums average monthly rate of exchange of
the month of transaction - Paid claims average
monthly rate of exchange of the month of
transaction - Outstanding claims average monthly
rate of exchange of December 1999 All premiums
are net of all rebates and commissions. All
claims are net of any deductibles
applicable. (F)DWT in this report represents the
maximum of either FDWT or DWT per vessel with
Formula deadweight tons FDWT calculated
as Length between perpendiculars Moulded
breadth Moulded depth
2.265 Total Claims Paid Claims Outstanding
Claims Loss Ratio Total Claims /
Premium Underwriting year year in which the
insurance attaches
Page 1.1.2
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Types of vessels specified BULK Bulk,
Ore CAR/RoRo/CONT. Car Carrier, Ro/Ro,
Container CHEM./PRODUCT Chemical Carriers
Product GENERAL CARGO Dry Cargo, General Cargo,
Reefers, Multi-Purpose, Pallett
Vessels LNG/LPG LNG, LPG, LNG/LPG, Other Gas
Carriers OBO Combined vessels, Bulk Container,
Obo, Probo, O/O OTHER Other special vessels,
Flo/Flo, Cable Lying Barge, Floating Crane,
Heavy Lift, Barge/Pontoon, Barge Carrier
(LASH), Tug, Fishing Factory, Fishing Vessel,
Cement Carriers, Other Cargo Carriers, Coast
Tanker, Work Boats, Coaster General Cargo,
Floating Dock, Floating Crane, Coast Guard
Vessels, Barges, Research Vessels, Sand Carriers
Coaster, Pontoons, Ferry Boat, Tug/Salvage,
Yacht, Floating Factory/Terminals, Undefined
Page 1.1.3
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Types of vessels specified contd. PASSENGER Ferri
es, Other Passenger, Passenger Catamaran, Cruise
ships, Hotel-Vessels, Car Passenger Ferries,
Hurtigruteskip, Passenger Vessels, Other Liners
Passenger/Cargo, Highspeed craft SUPPLY/OFFSHORE
Other Offshore, Drilling Vessels, Diving/General
Service Vessels, Barge/Pontoon, Stand-By,
Seismic Search Vessels, Supply (Tug,
Anchor), Tug/Icebreaker, Pipe Laying
Barge/Vessel TANK Tankers, Asphalt Carriers,
SPM Tanker, Oil Tanker
Page 1.1.4
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Page 2.1.1
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Number of vessels per type of vessel
Total 30,524
Total 6,277
Total 4,914
Page 2.1.2
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Number of vessels per Classification Society
Total 30,524
Total 6,277
Total 4,914
Page 2.1.3
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Number of vessels per Flag
Total 30,524
Total 6,277
Total 4,914
Page 2.1.4
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Page 2.2.1
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Total (F)DWT per type of vessel
Total 1,413 mill FDWT
Total 308 mill FDWT
Total 264 mill FDWT
Page 2.2.2
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Total (F)DWT per Classification Society
Total 1,413 mill FDWT
Total 308 mill FDWT
Total 264 mill FDWT
Page 2.2.3
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Total (F)DWT per Flag
Total 1,413 mill FDWT
Total 264 mill FDWT
Total 308 mill FDWT
Page 2.2.4
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Total (F)DWT per Size Group
Total 1,413 mill FDWT
Total 308 mill FDWT
Page 2.2.5
Total 264 mill FDWT
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Norwegian Marine Insurance StatisticsAs of 31st
December 2000
Total (F)DWT per Age Group
Total 1,413 mill FDWT
Total 264 mill FDWT
Total 308 mill FDWT
Page 2.2.6