The free reserve is again moving upwards after a $9.3m loss in 2011 and a marginal 1% return on investment.<\/p>\n
What it showed was that the Swedish Club had more than clawed back last year’s loss and the free reserve was again moving upwards. So there was something to celebrate when the Swedish Club marked its 140th anniversary in Gothenburg after a difficult year.<\/p>\n
It was a year when the club was hit by the most costly claim in its history – the loss of the 3,032-teu containership Rena (built 1990) which had hull as well as protection-and-indemnity (P&I) cover, as well as two other casualties serious enough to be pooled with other International Group clubs. The Swedish Club incurred a $9.3m loss through 2011 as it was squeezed between an $11m underwriting deficit and a marginal 1% investment return. But the glimpsed bar chart at the annual general meeting suggests there was a surplus of as much as $15m through the first quarter of 2012, so last year was an untypical period when various circumstances turned against the club.<\/p>\n
Managing director Lars Rhodin characterised the loss as “acceptable in a turbulent year” . The Swedish Club’s deficit was the biggest in the International Group but not so large in monetary terms, with Rhodin noting that the free reserve had grown significantly over recent years. The club also has calendar-year accounting, unlike rivals who mostly report on a year based on the 20 February renewal of P&I cover. If the Swedish Club had February reporting it would have turned a modest profit.<\/p>\n
Worries about the performance of equity markets led to the Swedish Club selling half its stock-market investments in late summer 2011 but it returned earlier this year and now has 20% of its portfolio in equities, albeit in a way that offers capital protection at the expense of limiting the upside. The approach is that the Swedish Club is prepared to risk losing $25m if equities or bonds crashed or foreign-exchange rates moved in a particularly adverse way but aims to safeguard the balance of its portfolio.<\/p>\n
“If you don’t take risks, you have no return,” commented Rhodin. The underwriting loss meant that was a overall net combined ratio of 110%, with P&I the problem at 115% but hull and energy only marginally negative at 101%. Combined ratios are a key measure of underwriting performance with figures above 100% indicating a loss.<\/p>\n
Although the loss of the Costamare-owned Rena is set to produce a $300m claim, what happened is in many ways unremarkable. The Rena was not a particularly big or costly ship. New Zealand’s Astrolabe Reef is not a notorious hazard, with Rhodin suggesting that nine out of 10 times a ship passing close by would miss it. What was different was the remoteness of the location near the port of Tauranga, which meant all the resources to tackle the casualty had to be brought from Singapore – almost as far from the casualty as it is from Sweden. The casualty also became a “very political game” .<\/p>\n
Costamare is a famously loyal Swedish Club member of more than 30 years’ standing, with a good reputation, but the nature of marine insurance is that it is “quite likely that something unlikely will happen” , adds Rhodin. “A casualty is never the result of a single mistake but a concurrence of events” he noted. Rhodin says his immediate thought on hearing of the casualty was “there is risk in shipping” .<\/p>\n
But perhaps more shocking than a containership loss was the tragic grounding and capsize of the Costa Concordia. “We underwriters always thought the cruise industry state-of-the-art in terms of navigation,” said Rhodin. “I have been asked by my children what went wrong and there is basically no other answer than people make mistakes.”<\/p>\n
BY JIM MULRENAN GOTHENBURG
20 June 2012<\/p>\n
<\/p>\n
\u745e\u5178\u4fdd\u8d54\u534f\u4f1a\u91cd\u65b0\u5f00\u59cb\u76c8\u5229<\/strong><\/span><\/p>\n \u534f\u4f1a\u7ee72011\u5e74\u906d\u53d7930\u4e07\u7f8e\u5143\u635f\u5931\u53ca1%\u7684\u6295\u8d44\u56de\u62a5\u540e\uff0c\u81ea\u7531\u50a8\u5907\u91d1\u518d\u6b21\u589e\u957f\u3002<\/p>\n \u8fd9\u8868\u660e\uff0c\u745e\u5178\u534f\u4f1a\u4e0d\u4f46\u5f25\u8865\u4e86\u53bb\u5e74\u7684\u635f\u5931\uff0c\u5e76\u4e14\u81ea\u7531\u50a8\u5907\u91d1\u518d\u6b21\u6301\u7eed\u589e\u957f\u3002\u5728\u7ecf\u5386\u8fc7\u8270\u96be\u7684\u4e00\u5e74\u540e\uff0c\u745e\u5178\u534f\u4f1a\u7684\u8fd9\u4e00\u6210\u5c31\u503c\u5f97\u5728\u54e5\u5fb7\u5821\u4e3e\u884c\u7684\u5176140\u5468\u5e74\u7eaa\u5ff5\u4f1a\u4e0a\u597d\u597d\u5e86\u8d3a\u4e00\u756a\u3002<\/p>\n 2011\u5e74\u662f\u534f\u4f1a\u5386\u53f2\u4e0a\u906d\u53d7\u5de8\u989d\u7d22\u8d54\u6253\u51fb\u6700\u4e25\u91cd\u7684\u4e00\u5e74\u2014\u2014\u5efa\u4e8e1990\u5e74\uff0c3032\u6807\u51c6\u7bb1\u7684”\u745e\u7eb3” \u53f7(Rena)\u96c6\u88c5\u7bb1\u8239\u706d\u5931\uff0c\u8be5\u8239\u5728\u745e\u5178\u534f\u4f1a\u6295\u4fdd\u4e86\u4fdd\u8d54\u9669\u4ee5\u53ca\u8239\u58f3\u9669\u3002\u53e6\u5916\u8fd8\u6709\u4e24\u8d77\u91cd\u5927\u4e8b\u6545\uff0c\u7d22\u8d54\u989d\u4e5f\u662f\u5927\u5230\u9700\u8981\u4e0e\u5176\u4ed6\u56fd\u9645\u4fdd\u8d54\u96c6\u56e2\u534f\u4f1a\u4e00\u8d77\u6765\u5206\u62c5\u30022011\u745e\u5178\u534f\u4f1a\u9762\u4e341100\u4e07\u7f8e\u5143\u627f\u4fdd\u4e8f\u635f\u548c\u767e\u5206\u4e4b\u4e00\u7684\u6295\u8d44\u56de\u62a5\uff0c\u5168\u5e74\u4e8f\u635f\u4e3a930\u4e07\u7f8e\u5143\u3002\u4f46\u4ece\u5e74\u4f1a\u4e0a\u516c\u5e03\u7684\u67f1\u72b6\u56fe\u4e2d\u53ef\u89c1\uff0c2012\u5e74\u7b2c\u4e00\u5b63\u5ea6\u534f\u4f1a\u76c8\u4f591500\u4e07\u7f8e\u5143\u3002\u7531\u6b64\u53ef\u5224\u65ad\uff0c\u662f\u5404\u79cd\u4e0d\u5229\u534f\u4f1a\u7684\u60c5\u51b5\u96c6\u4e2d\u51fa\u73b0\uff0c\u4f7f\u5f972011\u5e74\u53d8\u6210\u4e00\u6bb5\u5f02\u5e38\u7684\u65f6\u671f\u3002<\/p>\n \u5e38\u52a1\u8463\u4e8bLars Rhodin\u628a\u4e8f\u635f\u63cf\u8ff0\u6210”\u5728\u52a8\u8361\u4e4b\u5e74\u91cc\uff0c\u53ef\u4ee5\u63a5\u53d7” \u3002\u745e\u5178\u534f\u4f1a\u662f\u56fd\u9645\u4fdd\u8d54\u96c6\u56e2\u534f\u4f1a\u4e2d\u4e8f\u635f\u6700\u5927\u7684\u4e00\u5bb6\uff0c\u4f46\u8d27\u5e01\u5f62\u5f0f\u7684\u4e8f\u635f\u5e76\u6ca1\u6709\u90a3\u4e48\u5927\uff0cRhodin\u8868\u793a\u81ea\u7531\u50a8\u5907\u91d1\u589e\u957f\u663e\u8457\u8d85\u8fc7\u8fc7\u53bb\u51e0\u5e74\u3002\u745e\u5178\u534f\u4f1a\u4e5f\u662f\u6309\u65e5\u5386\u5e74\u4f5c\u4e3a\u8d22\u52a1\u7ed3\u7b97\u70b9\uff0c\u4e0d\u540c\u4e8e\u5176\u4ed6\u591a\u6570\u7ade\u4e89\u5bf9\u624b\uff0c\u4ee52\u670820\u65e5\u4f5c\u4e3a\u4fdd\u8d54\u9669\u7eed\u4fdd\u65e5\uff0c\u5e76\u5728\u6b64\u57fa\u7840\u4e0a\u62a5\u544a\u5176\u8d22\u52a1\u72b6\u51b5\u3002\u5982\u679c\u745e\u5178\u534f\u4f1a\u4ee5\u622a\u6b622\u6708\u4efd\u7684\u8d22\u52a1\u6570\u5b57\u6765\u62a5\u544a\uff0c\u90a3\u4e48\u5176\u8d22\u52a1\u4e1a\u7ee9\u5c31\u5c0f\u6709\u76c8\u4f59\u3002<\/p>\n \u7531\u4e8e\u62c5\u5fc3\u4ea7\u6743\u6295\u8d44\u5e02\u573a\u884c\u60c5\uff0c\u745e\u5178\u534f\u4f1a\u57282011\u5e74\u590f\u672b\u5356\u51fa\u5176\u4e00\u534a\u7684\u80a1\u5e02\u6295\u8d44\uff0c\u4f46\u4e8e\u4eca\u5e74\u65e9\u4e9b\u65f6\u5019\u6536\u56de\u3002\u534f\u4f1a\u76ee\u524d\u7684\u6295\u8d44\u7ec4\u5408\u4e2d\uff0c\u80a1\u7968\u5360\u4e8620%\uff0c\u5c3d\u7ba1\u53ef\u4ee5\u66f4\u597d\u7684\u63a7\u5236\u8d44\u91d1\u98ce\u9669\uff0c\u4f46\u4e5f\u9650\u5236\u4e86\u56de\u62a5\u7387\u3002\u5982\u679c\u80a1\u7968\u3001\u503a\u5238\u3001\u5916\u6c47\u5229\u7387\u53d8\u5f97\u7279\u522b\u4e0d\u5229\uff0c\u534f\u4f1a\u505a\u597d\u9762\u5bf9\u4e8f\u635f2500\u4e07\u7f8e\u5143\u98ce\u9669\u7684\u51c6\u5907\uff0c\u8fd9\u6837\u505a\u7684\u76ee\u7684\u5728\u4e8e\u786e\u4fdd\u8bc1\u5238\u6295\u8d44\u7ec4\u5408\u7684\u5e73\u8861\u3002<\/p>\n Rhodin\u8bc4\u8bba\u8bf4\uff0c”\u4e0d\u5165\u864e\u7a74\uff0c\u7109\u5f97\u864e\u5b50” \u3002\u627f\u4fdd\u4e8f\u635f\u5177\u4f53\u60c5\u51b5\u662f\uff1a\u603b\u4f53\u51c0\u7efc\u5408\u8d54\u4ed8\u7387\u4e3a110%\uff0c\u4fdd\u8d54\u9669\u7efc\u5408\u8d54\u4ed8\u7387\u4e3a115%\uff0c\u4f46\u8239\u58f3\u9669\u548c\u80fd\u6e90\u9669\u7684\u7efc\u5408\u8d54\u4ed8\u7387\u8f83\u597d\uff0c\u4e3a101%\u3002\u7efc\u5408\u8d54\u4ed8\u7387\u662f\u8861\u91cf\u627f\u4fdd\u4e1a\u7ee9\u7684\u91cd\u8981\u6307\u6807\uff0c\u6570\u503c\u5927\u4e8e100%\u5373\u610f\u5473\u7740\u4e8f\u635f\u3002<\/p>\n \u5c3d\u7ba1\u8fc8\u822a\u8fd0(Costamare)\u65d7\u4e0b”\u745e\u7eb3” \u53f7\u8f6e\u7684\u706d\u5931\u4ea7\u751f3\u4ebf\u7f8e\u5143\u7684\u7d22\u8d54\uff0c\u4f46\u662f\u5728\u5f88\u591a\u65b9\u9762\uff0c\u8be5\u4e8b\u6545\u5e76\u4e0d\u5f15\u4eba\u6ce8\u610f\uff0c\u56e0\u4e3a”\u745e\u7eb3” \u53f7\u8f6e\u5e76\u4e0d\u662f\u8239\u578b\u7279\u522b\u5927\u6216\u7279\u522b\u6602\u8d35\u7684\u8239\u8236\u3002\u65b0\u897f\u5170\u963f\u65af\u7279\u7f57\u83b1\u5e03\u6697\u7901\u4e5f\u5e76\u975e\u4ee5\u5371\u9669\u8457\u79f0\uff0c\u5728Rhodin\u770b\u6765\uff0c\u4ece\u8fd9\u91cc\u9644\u8fd1\u7ecf\u8fc7\u7684\u8239\u53ea\u767e\u5206\u4e4b\u4e5d\u5341\u4e0d\u4f1a\u78b0\u4e0a\u8fd9\u5757\u7901\u77f3\u3002\u8fd9\u8d77\u4e8b\u6545\u7684\u7279\u522b\u4e4b\u5904\u5728\u4e8e\uff0c\u8be5\u504f\u50fb\u4f4d\u7f6e\u9760\u8fd1\u9676\u5170\u52a0\u6e2f\uff0c\u4e5f\u5c31\u662f\u8bf4\uff0c\u6240\u6709\u5904\u7406\u4e8b\u6545\u7684\u8d44\u6e90\u9700\u4ece\u65b0\u52a0\u5761\u8fd0\u6765\u2014\u2014\u65b0\u52a0\u5761\u79bb\u4e8b\u6545\u53d1\u751f\u5730\u7684\u8ddd\u79bb\u51e0\u4e4e\u7b49\u4e8e\u5176\u4e0e\u745e\u5178\u4e4b\u95f4\u7684\u8ddd\u79bb\u3002\u7531\u6b64\uff0c\u8fd9\u8d77\u4e8b\u6545\u4e5f\u5c31\u6f14\u53d8\u6210\u4e86\u4e00\u4e2a”\u975e\u5e38\u5177\u6709\u653f\u6cbb\u8272\u5f69\u7684\u6e38\u620f” \u3002<\/p>\n Rhodin \u8865\u5145\u9053\uff0c\u8fc8\u822a\u8fd0(Costamare)\u662f\u745e\u5178\u534f\u4f1a\u8457\u540d\u7684\u5fe0\u5b9e\u4f1a\u5458\uff0c\u4e0e\u745e\u5178\u534f\u4f1a\u6709\u8d85\u8fc730\u5e74\u7684\u5408\u4f5c\uff0c\u4fe1\u8a89\u826f\u597d\u3002\u4f46\u662f\u6d77\u4e0a\u4fdd\u9669\u7684\u6027\u8d28\u6b63\u662f”\u603b\u662f\u90a3\u4e9b\u4e0d\u592a\u53ef\u80fd\u53d1\u751f\u7684\u4e8b\u60c5\u4f1a\u53d1\u751f” \u3002Rhodin\u8fd8\u8868\u793a\uff0c”\u4e8b\u6545\u4ece\u6765\u4e0d\u662f\u7531\u4e8e\u5355\u4e00\u9519\u8bef\u5bfc\u81f4\u7684\uff0c\u800c\u662f\u591a\u4e2a\u4e8b\u4ef6\u540c\u65f6\u53d1\u751f\u5408\u529b\u7684\u7ed3\u679c\u3002” \u4ed6\u8bf4\uff0c\u542c\u5230\u8be5\u4e8b\u6545\u540e\u7684\u7b2c\u4e00\u53cd\u5e94\u662f”\u822a\u8fd0\u679c\u7136\u6709\u98ce\u9669” \u3002<\/p>\n \u4f46\u662f\uff0c\u4e5f\u8bb8\u6bd4\u8d77\u96c6\u88c5\u7bb1\u8239”\u745e\u7eb3” \u53f7\u8f6e\u706d\u5931\u66f4\u4e3a\u4ee4\u4eba\u9707\u60ca\u7684\u662f”\u6b4c\u8bd7\u8fbe\u534f\u548c” \u53f7(Costa Concordia)\u90ae\u8f6e\u7684\u6401\u6d45\u548c\u503e\u8986\uff0c\u90a3\u771f\u662f\u4e00\u573a\u60b2\u5267\u3002Rhodin\u66fe\u7ecf\u8bf4\u8fc7\uff1a”\u6211\u4eec\u4fdd\u9669\u4eba\u59cb\u7ec8\u8ba4\u4e3a\uff0c\u90ae\u8f6e\u5728\u822a\u884c\u5b89\u5168\u65b9\u9762\u662f\u9876\u7ea7\u7684\u3002\u6211\u7684\u5b69\u5b50\u4eec\u66fe\u95ee\u6211\u4e3a\u4ec0\u4e48\u4f1a\u53d1\u751f\u8fd9\u4e9b\u4e8b\u6545\uff1f\u6211\u80fd\u600e\u6837\u56de\u7b54\u5462\uff1f\u53ea\u80fd\u8bf4\u4eba\u7c7b\u662f\u4f1a\u72af\u9519\u8bef\u7684\uff01”<\/p>\n JIM MULRENAN \u54e5\u5fb7\u5821 The free reserve is again moving upwards after a $9.3m loss in 2011 and a marginal 1% return on investment. What it showed was that the Swedish Club had more than clawed back last year’s loss and the free reserve was again moving upwards. So there was something to celebrate when the Swedish Club marked […]<\/p>","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[125],"class_list":["post-10379","post","type-post","status-publish","format-standard","hentry","category-circulars","tag-english"],"_links":{"self":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10379","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/comments?post=10379"}],"version-history":[{"count":1,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10379\/revisions"}],"predecessor-version":[{"id":20247,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/posts\/10379\/revisions\/20247"}],"wp:attachment":[{"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/media?parent=10379"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/categories?post=10379"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/andrewliu.com.hk\/zh\/wp-json\/wp\/v2\/tags?post=10379"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
2012\u5e746\u670820\u65e5<\/p>\n
<\/strong><\/span><\/p>","protected":false},"excerpt":{"rendered":"