welcome to the swedish club news/the sw… · els ) vessels gt • number of vessels 2,587 •...
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Welcome to The Swedish ClubThe Swedish Club 2018
It all started in 1872
The Swedish Club 2018 2
It all started in 1872
• 1872 - Established in Göteborg as a Hull Mutual
• 1910 - P&I introduced
• 1971 - International with the first non-Swedish entry of the “Flowergate”
• 1984 - FD&D introduced
• 2011 - Energy introduced
Offices in:
• Gothenburg HQ 1872
• Piraeus 1980
• Hong Kong 1982
• Tokyo 1991
• Oslo 2010
• London 2015
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The Swedish Club has been a marine insurance provider since 1872. As a mutual organisation we have our members’ best interests at heart at all times
We are committed to a strategy of• Prudent pricing• Long term relationships• Effective risk management
Delivered through our core values of• Proactivity• Reliability• Commitment
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Based on the Swedish values of flexibility, openness and responsibility, The Swedish Club provides:
• Efficient case management• Prompt decision making• Fast, fair and effective claims settlements• In-house expertise and adjusting capabilities• A strategic local presence with a global reach
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Our work is based on three key priorities:
• Professional marine insurance cover• Swift claims processing handled by experts• Proactive loss prevention
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Protectionand Indemnity
Freight Demurrageand Defence
Kidnap and Ransom
Hull and Machinery
War Risks
Loss of Hire and Delay CoverEnergy and Offshore
Increased ValueInsurance and Freight Interest Insurance
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First class service and in-house expertise delivered:
• Through a team based approach - 24/7, 365 days a year
• From The Swedish Club’s headquarters in Gothenburg, and offices in Piraeus, Hong Kong, Tokyo, Oslo and London
• By expert lawyers, master mariners, naval architects, marine engineers and adjusters, all with specialist experience in their individual fields
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Loss prevention is at the heart of everything we do. It:
• Saves lives• Protects the environment• Delivers onboard efficiencies
9The Swedish Club 2018
Delivered through:
• Training – Emergency Response Training, Maritime Resource Management (MRM) and Monthly Safety Scenario
• Initiatives – The Swedish Club PEME, The Swedish Club Operations Review (SCORE), benchmarking and awareness campaigns
• Information – Member Alerts, loss prevention publications and guidance
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An essential part of your loss prevention programme, MRM fosters:• Positive and constructive attitudes• Good personal communication• Leadership excellence• Compliance with operating procedures
• Reduced accidents and incidents• Increased situational awareness• More effective management of available resources• Improved onboard communication• Less complacency• Effective implementation of standard operating
procedures
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A comprehensive incident simulation process, helping you become better at emergencies.
• Training at member’s location• Detailed incident scenario covering: progression of
events, individual responsibilities, phases of the incident, the emergency response process
• Involvement of salvors, media representatives, the port state authority, the flag state, the local coastguard etc.
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931
9.6
37,697
35.1
*including Charterer’s Liability
Number of vessels
GT (million)
Average size (GT)
Average age
1,751
9.3
43,678
74.3
P&I P&I*
Average share
Number of vessels
GT (million)
Average age
2,587
10.3
12.6 %
103.4
1,003
8.8
43.0 %
28.1
Marine & Energy H&M
Average size (GT) 39,982 28,040
Total values (USD billion) 8.2 0.8
FD&D
Loss of Hire
Basic facts as of 22 March 2018
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GT - Insurance Year Start
0
20
40
60
80
100
120
140
160
180
200
220
240
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Mill
ion
GT
H&M P&I + Charterer's P&I FD&D
Free reserves at record level
USD214million Investment assets
USD376million
USD19millionsurplusCombined ratio
104 %USD153million
Gross premium
Upgraded financial
position to BBB+
Positive Outlook*
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Highlights 2017
4 % P&I Discount
20175 % P&I Discount 2018
*S&P 2018
Result 2017 and 2016
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All amounts are stated in USD Million 2017 2016
Premiums net of reinsurance 117.5 130.5
Mutual premium discount (P&I) -3.4 -
Investment income transferred from NTA 5.1 4.7
Claims of net reinsurance -98.1 -102.9
Net operating expenses -24.8 -25.4
Underwriting result -3.8 6.8
Financial result 27.7 9.7
Investment income transferred -5.1 -4.7
Result before appropriations and tax 18.8 11.8
Free reserves 213.9 194.9
Combined ratio 104 % 98 %
Find more financial information on https://annualreport.swedishclub.com
Free Reserves 2008 - 2017 (MUSD)
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106,8
121,7
151,2141,9
151,0
168,0
186,3 183,1194,9
214,0
0
50
100
150
200
250
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Eligible Own FundsSolvency Capital Requirement
=262 %
2017
Our organisation
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Our organisation 2018
Gothenburg Piraeus Hong Kong Tokyo Oslo London
The Swedish Club Academy AB
Martin HernqvistManaging Director
Finance, Risk Mgmt. & IT
Mikael KromliDirector
Team Pireus
Hans FilipssonArea Manager / General
Manager
Strategic Business Development & Client Relations
Lars A. MalmDirector
Team Norway
Tore ForsmoArea Manager
Corporate Legal
Anders LeissnerDirector
Lars RhodinManaging Director
Information Technology
Magnus AxelssonManager
Human Resources
Britta PatrikssonDirector
Marketing Communications
Marina Smyth SamsjöManager
Team Gothenburg
Johan KahlmeterArea Manager
Team Asia
Ruizong WangArea Manager / Managing
Director
Team London
Lars NilssonArea Manager
Underwriting,Reinsurance & Risk Control
Tord NilssonDirector
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Facts and Figures
19The Swedish Club 2018
Number of Vessels – Insurance Year Start (20 Feb.)
0
1000
2000
3000
4000
5000
6000
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Nu
mb
ero
fV
esse
ls
H&M P&I + Charterer's P&I FD&D
The Swedish Club 2018 20
GT – Insurance Year Start (20 Feb.)
0
20
40
60
80
100
120
140
160
180
200
220
240
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018
Milli
on
GT
H&M P&I + Charterer's P&I FD&D
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Vessel Type: Distribution of Fleet
Source: Tysers P&I Report 2017
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35%
31%
19%
14%
IG Group Fleet
Bulker
Tanker
Container
Other
37%
20%
39%
4%
The Swedish Club Fleet
N Europe18%
S Europe26%
Mid East8%
Asia48%
P&I: Basic Facts per 22 March 2018
• Number of vessels 1,751
• Average age 9.3
• GT (Million) 74.3
Figures include Charterer’s P&I
0
10
20
30
40
50
60
70
80
90
100
0
250
500
750
1 000
1 250
1 500
1 750
2 000
2 250
GT
(M
illio
n)
Nu
mb
er
of
Ve
ss
els
Vessels GT
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GT per market Figures exclude Charterer’s P&I
FD&D: Basic Facts per 22 March 2018
• Number of vessels 931
• Average age 9.6
• GT (Million) 35.1N Europe
23%
S Europe17%
Mid East5%
Asia55%
GT per market
0
5
10
15
20
25
30
35
40
45
0
200
400
600
800
1000
1200
GT (
Millio
n)
Nu
mb
er
of
Ve
sse
ls
Vessels GT
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N Europe57%
S Europe22%
Mid East3%
Asia18%
H&M: Basic facts per 22 March 2018
Vessels per market
0
20
40
60
80
100
120
140
0
500
1 000
1 500
2 000
2 500
3 000
3 500
GT
(M
illi
on
)
Nu
mb
er
of
Ve
ss
els
Vessels GT
• Number of vessels 2,587
• Average age 10.3
• GT (Million) 103.4
• Average share (GT) 12.6%
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Asset mix as per 20 February 2017
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Source: Arthur J Gallagher, Marine P&I Pre-Renewal Review 2017
0%
20%
40%
60%
80%
100%
Cash and other assets
Bonds
Equities
Result 2006 – 2017
11
-2
7
15
30
-9
9
1718
-3
11,8
19
-15
-10
-5
0
5
10
15
20
25
30
35
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
US
D m
illi
on
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102,0 99,7106,8
121,7
151,2141,9
151,0
168,0
186,3 183,1
194,9
213,9
0
50
100
150
200
250
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017
Free Reserves 2006-2017 (MUSD)
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Combined ratio seven year averages
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95% 96% 99% 100% 100% 101%105% 105% 105% 106% 107% 110%
121%125%
0%
20%
40%
60%
80%
100%
120%
140%
Source: Arthur J Gallagher, Marine P&I Pre-Renewal Review October 2017 and TSC’s accounts
Board of Directors
Board of Directors present at the AGM June 2017
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Board of Directors
Baran Sualp, IdilCerBa Group of Companies
Turkey
Bodouroglou, MichaelAllseas Marine S.A.
Greece
Claesson, PeterStena ABSweden
Correa, Jude Seaspan Ship ManagementVancouver, Canada
Coustas, JohnDeputy Chairman
Danaos Shipping Co. Ltd.
Greece
Dragazis, DemetriLatsco (London) Ltd.United Kingdom
Grool, RobVroon B.V.The Netherlands
Grönberg, GustafStar Cruises Management Ltd.Malaysia
Hashim, KhalidDeputy ChairmanPrecious Shipping Public Co LtdThailand
Höglund, LarsFuretank Rederi ABSweden
Källsson, AndersErik Thun ABSweden
Lemos, AndonisEnesel S.A. Greece
Li, ZhenSinotrans Shipping Ltd.People’s Republic of China
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Board of Directors
Lim, Sim KeatIMC Industrial GroupSingapore
Lu, JianWinning ShippingSingapore
Manos, DiamantisCostamare Shipping Co. SAGreece
Simonsson, LennartChairmanSweden
Tanthuwanit, SumateRegional Container Lines Co. Ltd.Thailand
Vinnen, MichaelF.A. Vinnen & CoGermany
Weng, YiChina Shipping (Group) CompanyPeoples’ Republic of China
Rhodin, LarsManaging DirectorThe Swedish ClubSweden
Osvald, JakobRepresentative of the employeesThe Swedish ClubSweden
Rydén, ElisabethRepresentative of the employeesThe Swedish ClubSweden
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