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Ocean Marine

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Ocean Marine Roger Howe, CPCU December 6th 2004 – PowerPoint PPT presentation

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Title: Ocean Marine


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 Trends USD billions
Source IUMI 2004
5
Ocean Marine Global Premium 2003
  • Geographic Split

Source IUMI 2004
6
Global LOB Split 2003 USD Premium 14.83 Bn
Source IUMI 2004
7
2003 Detail Geographic Premium Written US 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/O
ffshore Energy
8
US Premium USD Bn
Source AIMU Calendar Year Operating
Ratios Including Yachts (not included in IUMI
numbers)
9
US Premium Split by LOB 2003
Source AIMU 2003
10
Lines of Business
  • Cargo
  • Bluewater Hull
  • Brownwater Hull and PI
  • Offshore Energy
  • Marine Liabilities
  • Yachts

11
Cargo
12
Bluewater
13
Brownwater Hull and PI
14
Brownwater Hull and PI
15
Offshore Energy
16
Liabilities
  • Brief Description


17
Yachts 413 ft Octopus
18
2003 CY Results US Market Premiums vs. Combined
Ratio (USD Bn)
Source AIMU 2003 Calendar Year Operating Ratios
19
2003 CY Results US Cargo Market Premiums vs.
Combined Ratio (USD Million)
Source AIMU 2003 Calendar Year Operating Ratios
20

2003 CY Results US Ocean Hull Market Premiums
vs. Combined Ratio (USD Million)

Source AIMU 2003 Calendar Year Operating Ratios
21

2003 CY Results US All Other Hull
Market Premiums vs. Combined Ratio (USD Million)

Source AIMU 2003 Calendar Year Operating Ratios
22

2003 CY Results US PI Market Premiums vs.
Combined Ratio (USD Million)

Source AIMU 2003 Calendar Year Operating Ratios
23

2003 CY Results US Yacht Market Premiums vs.
Combined Ratio (USD Million)

Source AIMU 2003 Calendar Year Operating Ratios
24

2003 CY Results US Primary Liab Market Premiums
vs. Combined Ratio (USD Million)

Source AIMU 2003 Calendar Year Operating Ratios
25

2003 CY Results US Offshore Market Premiums vs.
Combined Ratio (USD Million)

Source AIMU 2003 Calendar Year Operating Ratios
26
Recent Loss Activity
27
Rigs in Path Of Ivan _at_ 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
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