We do not have any priority targets in marine hull insurance on stand-alone basis. We will also refrain from participating in the mainstream and wholesale (subscription) markets. Our aim is to focus on clients, who have placed their P&I insurances with us and use our marine hull capacity to complement ‘one stop’ programs. Any marine hull enquiry will be scrutinized most carefully to meet our requirements in respect of the client relation, the risk management and the terms and conditions.
Marine hull is generally known as a market, which is producing losses to insurers. In fact it is the same with the mainstream P&I business underwritten by the International Group of P&I.
Since we have found a solution to underwrite Shipowners P&I business with good underwriting results, we believe we can also find a solution for underwriting hull policies successfully. All in house knowledge on claims handling, condition surveys and loss prevention may contribute to creating a competitive edge to the benefit of both the Shipowner and the insurer. Only long term loyalty and commitment can create viable and sustainable solutions.
The main target of a shipowner is an uninterrupted trading of his vessel. That’s how we wish to participate in managing the client relation through our knowledge of ships and shipping.
