• 2012 Nordic Marine Insurance Statistics Reports

    The year of the titans

    After three relatively good years, 2012 brought hull underwriters back to heavy losses. However, this time, the high claims costs can be explained by a handful of total losses of high-value vessels and not an unexpected increase in the frequency of claims. The NoMIS statistics suggest that underwriters may have to recalibrate their perception of risk. 

    The 2012 reports again give good insight into recent hull claims trends. While the 2012 Cefor Annual Report outlines and explains the general trends as well as gives information on the NoMIS portfolio, the more detailed powerpoint reports on ocean and coastal hull proviede statistics and trends per vessel type, age group, size group and for other subportfolios as well as hull exposure curves.


    The 2012 Cefor Annual Report

    Underlying data for 2012 Cefor Annual Report 
    (revised nov. 2013: Contents overview and insured values by age group added)

    Press release

    The 2012 NoMIS Ocean Hull Report

    The 2012 NoMIS Coastal Hull Report

  • Cefor Hull Claims Trends Update as of 30 June 2012

    Strong major claims impact 1st half 2012

    While the average repair cost and claim frequency staid stable in the first half of 2012, major losses had an unprecedented impact on the overall figures. In addition to Costa Concordia, five more losses in excess of 30 MUSD were reported, as opposed to only two in the whole year 2011 and 2010 respectively. 
    Excluding total losses, both the average claim cost and freqency staid stable since 2009. When interpreting the figures, please note that all figures reflect 100% of the vessels, but that only a minor share of the Costa Concordia accident was covered in the Nordic market.   

    Download all claims trends with text explanations here:
    Cefor Hull Claims Trends Update as of 30 June 2012

  • 2012 Nordic Coastal and Fishing vessel stats

    New extended fishing vessels statistics

    After the successful integration of the Nordic coastal small craft portfolio into the NoMIS database in recent years, in the first quarter 2012 we could add even another coastal portfolio, such that the number of coastal vessels registered in the NoMIS database increased to about 10,000 vessels per year, with about half of these being fishing vessels. Check the new and extended coastal statistics with special focus on claims trends of the fishing vessel fleet.

    Nordic coastal and fishing vessel stats