Norwegian Marine Insurance Statistics

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Norwegian MarineInsurance Statistics
Underwriting Year 1990 - 2002 as of 31st December
2002
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
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 2.1.5 vessels per size group 2.1.6
vessels per age group 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, 2001 2.3.3 per
classification society 2.3.4 per flag 2.3.5
per size group 2.3.6 Age structure per
classification society, 2001
Page I
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
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 2002
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 1996 - 2001 4.1.6 Cost of
claims per type of casualty - Period 1996 -
2001 5. Underwriting results and
trends 5.1.1 Underwriting results as of
31.12.2002 - Total results for all risks
registered by NoMIS 5.1.2 Underwriting results as
of 31.12.2002 - 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 2002
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 at any time for all Underwriting
Years. As of 31 December 2002 the NoMIS database
comprises 56,685 vessel years and 21,343 claims.
This report contains statistics based on both
Norwegian and International business for the
period 1990-2002.
Page 1.1.1
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
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 2002 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 2002
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 2002
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 2002

• Comments
• Strong growth 1994 to 1995 does NOT reflect a
  real portfolio extension, but is due to
  restructuring of the
• NoMIS database in order to include more members
  vessels from 1995
• Decline in portfolio from 1997 to 2001 is real
  and due to members concentrating on target
  business
• Decline from 2001 to 2002 is mainly due to a
  NoMIS member stopping underwriting.

Page 2.1.1
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Number of vessels per type of vessel
Total 30,616
Total 3,742
Total 5,463
Page 2.1.2
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Number of vessels per Classification Society
Total 30,616
Total 5,463
Total 3,742
Page 2.1.3
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Number of vessels per Flag
Total 30,616
Total 5,463
Total 3,742
Page 2.1.4
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Number of vessels per Size Group
Total 30,616
Total 5,463
Total 3,742
Page 2.1.5
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Number of vessels per Age Group
Total 30,616
Total 5,463
Total 3,742
Page 2.1.6
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Page 2.2.1
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Total (F)DWT per type of vessel
Total 1,514 mill FDWT
Total 235 mill FDWT
Total 295 mill FDWT
Page 2.2.2
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Total (F)DWT per Classification Society
Total 1,514 mill FDWT
Total 235 mill FDWT
Total 295 mill FDWT
Page 2.2.3
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Total (F)DWT per Flag
Total 1,514 mill FDWT
Total 295 mill FDWT
Total 235 mill FDWT
Page 2.2.4
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Total (F)DWT per Size Group
Total 1,514 mill FDWT
Total 295 mill FDWT
Total 235 mill FDWT
Page 2.2.5
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Norwegian Marine Insurance StatisticsAs of 31st
December 2002
Total (F)DWT per Age Group
Total 1,514 mill FDWT
Total 295 mill FDWT
Total 235 mill FDWT
Page 2.2.6