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