Welcome to The Swedish Club The Swedish Club 2019 Updated May 2019 1
It all started in 1872 The Swedish Club 2019 Updated May 2019 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 The Swedish Club 2019 Updated May 2019 3
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 The Swedish Club 2019 Updated May 2019 4
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 The Swedish Club 2019 Updated May 2019 5
Our work is based on three key priorities: • Professional marine insurance cover • Swift claims processing handled by experts • Proactive loss prevention The Swedish Club 2019 Updated May 2019 6
Protection and Indemnity Hull and Machinery Freight Demurrage Increased Value and Defence Insurance and Freight Interest Insurance Loss of Hire and Delay Cover Energy and Offshore Kidnap and Ransom War Risks The Swedish Club 2019 Updated May 2019 7
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 The Swedish Club 2019 Updated May 2019 8
Loss prevention is at the heart of everything we do. It: • Saves lives • Protects the environment • Delivers onboard efficiencies The Swedish Club 2019 Updated May 2019 9
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 The Swedish Club 2019 Updated May 2019 10
• 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 The Swedish Club 2019 Updated May 2019 11
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. The Swedish Club 2019 Updated May 2019 12
Facts and Figures The Swedish Club 2019 Updated May 2019 13
GT - Insurance Year Start Basic facts as of 10 April 2019 260 H&M P&I + Charterer's P&I FD&D P&I P&I* FD&D 240 1,911 220 Number of vessels 1,039 Average age 10,1 9.8 200 75,3 GT (million) 39.7 180 Average size (GT) 39,839 36,200 160 Million GT 140 120 Marine & Energy H&M Loss of Hire 100 2,842 893 Number of vessels 80 10,4 10,5 Average age 60 110.3 29.5 GT (million) 40 13,5 % 38,3 % Average share 20 38,826 33,051 Average size (GT) 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 8.8 0.7 Total values (USD billion) * including Charterer’s Liability The Swedish Club 2019 Updated May 2019 14
Highlights 2018 USD345 Upgraded 5 % P&I financial position Discount million USD204 to A- with stable 2018 Increased Investment assets million outlook* demand for Free reserves Emergency 99% Trade- Response Stable Training enabling Combined ratio Underwriting USD143 Loss performance million Prevention Gross premium income 2018 *S&P 2019 The Swedish Club 2019 Updated May 2019 15
Financial highlights 2018 All amounts are stated in USD Million 2018 Calls and premiums 146.1 Reinsurance premiums -34.9 Net claims incurred -86.6 Investment result -5.9 Operating result* -5.2 Loss ratio 78% Expense ratio 21% Combined ratio 99% Free reserves at year end 203.8 *Before decided P&I discount. Find more financial information on https://annualreport.swedishclub.com The Swedish Club 2019 Updated May 2019 16
Free Reserves 2008 - 2018 (MUSD) 250 214,0 204,0 Basic Own Funds 194,9 200 186,3 183,1 Solvency Capital 168,0 151,2 141,9 151,0 Requirement 150 = 121,7 106,8 100 237 % 50 2018 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 The Swedish Club 2019 Updated May 2019 17
Number of Vessels – Insurance Year Start (20 Feb.) H&M P&I + Charterer's P&I FD&D 7000 6000 5000 Number of Vessels 4000 3000 2000 1000 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 The Swedish Club 2019 Updated May 2019 18
GT – Insurance Year Start (20 Feb.) H&M P&I + Charterer's P&I FD&D 260 240 220 200 180 160 Million GT 140 120 100 80 60 40 20 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 The Swedish Club 2019 Updated May 2019 19
Vessel Type: Distribution of Fleet The Swedish Club Fleet IG Group Fleet 4% 14% 35% Bulker 37% 19% Tanker 39% Container Other 31% 20% Source: Tysers P&I Report 2018 The Swedish Club 2019 Updated May 2019 20
P&I: Basic Facts per 10 April 2019 GT per market Figures exclude Charterer’s P&I • Number of vessels 1,911 • Average age N Europe 9.9 18% • GT (Million) 75,3 Asia 54% Figures include Charterers’ P&I 2 250 80 2 000 70 Number of Vessels 1 750 GT (Million) 60 S Europe 1 500 50 26% 1 250 40 1 000 30 750 20 500 Mid East 10 250 2% 0 0 GT Vessels The Swedish Club 2019 Updated May 2019 21
FD&D: Basic Facts per 10 April 2019 GT per market • Number of vessels: 1,039 • Average age: 9.8 Asia 35% • GT (Million): N Europe 39.7 31% 1200 45 40 1000 35 Number of Vessels GT (Million) 800 30 25 600 20 Mid East 400 15 4% 10 S Europe 200 5 30% 0 0 Vessels GT The Swedish Club 2019 Updated May 2019 22
H&M: Basic Facts per 10 April 2019 • Number of vessels: 2,842 • Average age: 10.4 • GT (Million): 110.3 Asia • Average share (GT): 20% 13,5% N Europe 3 500 140 Mid East 50% Number of Vessels 3 000 120 1% 2 500 100 GT (Million) 2 000 80 1 500 60 S Europe 1 000 40 29% 500 20 0 0 Vessels GT The Swedish Club 2019 Updated May 2019 23
Asset Mix as per 20 February 2018 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% Equities Bonds Cash & other types of investments Source: Arthur J Gallagher, Marine P&I Pre-Renewal Review 2018 The Swedish Club 2019 Updated May 2019 24
Results 1997 – H1 2018 40 30 20 USD million 10 0 -10 -20 -30 1997 2000 2003 2006 2009 2012 2015 H1 2018 The Swedish Club 2019 Updated May 2019 25
Free Reserves 2008-2018 300 250 213,8 210 194,2 200 186,3 183,1 168 151,2 151 141,9 150 121,7 106,8 100 50 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 H1 2018 The Swedish Club 2019 Updated May 2019 26
Combined Ratio Seven Year Averages 140% 120% 123% 121% 112% 100% 109% 106% 107% 105% 105% 104% 104% 100% 99% 98% 94% 80% 60% 40% 20% 0% Source: Arthur J Gallagher, Marine P&I Pre- Renewal Review September 2018 and TSC’s accounts The Swedish Club 2019 Updated May 2019 27
23 Jan 2019 The Swedish Club 2019 Updated May 2019 2
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