Wind of Changes in P&I
Bay MoonCOO, The Korea P&I Club
Wind of Changes in P&I
2
Economy of Scale, The Name of the Game
Imminence of Digitalization
Shadow on the IG Cartel
Asian P&I Club Association, More realistic Benefit to Asian shipowners
Economy of Scale,The Name of the Game
Economy of Scale, The Name of the Game
4
Brokers
Marsh(No.1) + JLT(No.5)
Economy of Scale, The Name of the Game
5
Insurers
Osprey + Navigator + Hanseatic
Raets Marine + Amlin + Mitsui Sumitomo
AXA + XL + CatlinHartford + NavigatorsChina Re + Chaucer
Economy of Scale, The Name of the Game
6
Insurers
Korea P&I Club + ?
Imminence of Digitalization
Imminence of Digitalization
8
Lloyd’s Placement Platform Limited(PPL)
Is Commoditization In Marine getting close?
Shadow on the IG Cartel
Shadow on the IG Cartel
10
GIANT Shipowner Maersk gave a nudge.
- Against Release Calls in improper use
- To place own reinsurance to Maersk InsuranceAS its own captive
11
Collaboration increasing
Standard P&I + Tokio Marine
Skuld P&I + Mitsui Sumitomo
Gard, NoE, SSM, Skuld, UK, Swedish + China P&I
Standard P&I + Korea P&I
WoE, Swedish + Baoviet
LON, WoE + PICC
Shadow on the IG Cartel
Shadow on the IG Cartel
12
Diversification on going
GardMarine, Energy, Hull, LoE, Builders risks, …
NoEAquaculture, Hull, …
SkuldLloyd’s Syndicate, Hull, Energy, Cargo, …
Shadow on the IG Cartel
13
Diversification on going
StandardLloyd’s Syndicate run off, Strike Club, …
SwedishHull, Loss of Hire, …
And fixed facilities by IG
Asian P&I Club Association,More realistic Benefit to Asian shipowners
Asian P&I Club Association,More realistic Benefit to Asian shipowners
15
JPIA is a single club in IG to represent Asian shipowners
50% of world tonnage is owned or operated by Asian shipowners
Asian shipowners need a stronger channel
Thanks a lot