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British Marine is internationally respected for providing fixed cost insurance for marine and intermodal transportation risks. P&I, H&M and FD&D insurances for small / medium sized ships; Personal, Professional and Intermodal liability insurance for transport professionals and operators. A member of QBE Insurance Group,
British Marine offers fixed premiums with no standard increase, backed by 'A+' rated security, and takes pride in providing prompt, high quality service.
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| News and advice from British Marine |
| 20/02/2008 - P and I Renewal | | By Robert Johnston |
21 Feb 2008 |
We are delighted to be able to report on another very strong renewal for British Marine, which continues to highlight the confidence that British Marine enjoys within the marketplace. We would highlight:
• A 97% retention ratio on our renewing portfolio.
• An effective 4.5% increase in premium rating on that same renewing portfolio.
• A further 24% increase in premium generated at the 20th February renewal date from in excess of 100 new shipowner clients to British Marine.
• Continued support from within our client base, as 20 owners increase their fleet share.
British Marine does not, and will not, apply a standard increase. We believe in rating each individual owner on their own fleet performance. The overall premium increase therefore reflects the sum of the corrections made to records requiring of adjustment, allied to any increased costs in reinsurance.
With regard to new business, we have seen continued development across all our markets. Our Northern European portfolio has shown marked growth in Denmark, Germany and France, and in the East we have seen strong support from the Indian, Indonesian and Thai markets particularly. We thank our shipowners for their continued loyal support.
2007/2008 will see another positive underwriting result for British Marine, and we look forward to the future as an ever stronger Company.
Yours sincerely,
Robert Johnston
| | Full Article | | Stability through strength | | By Robert Johnston |
21 Jan 2008 |
"In our experience, shipowners seek fairness from their underwriters. They wish to be assured that the premium they pay reflects their own performance. They would prefer to avoid the risk of premium increase by reason of the performance of others. British Marine delivers this ..."
Robert Johnston
Managing Director
British Marine
| | Full Article |
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