Norwegian Hull Club announces 7.5 % return premium in Annual Report 2018

Norwegian Hull Club has announced a proposed 7.5 % return on premium in its Annual Report 2018, which was published today (April 11 2019).

 The Club, which is a mutual marine insurance provider, delivers various benefits to its members including – when the capital position and operating results allow – the return of premium. Through this action, Norwegian Hull Club recognises its members’ continuing support and its long-term commitment to them.

The report states that the 7.5 % return premium amounts to USD 5.7 million. The proposal from the Board of Directors will be presented to the Committee and finally decided by the Annual General Meeting, in connection with adoption of the annual accounts on 4 June 2019.

In his CEO Review for 2018, Norwegian Hull Club CEO Hans Christian Seim touches upon challenges and opportunities arising from changes in both the market and the organisation alike, saying: “In a rapidly changing landscape, we work hard to stay relevant for our clients. For a company such as Norwegian Hull Club - selling competence, knowledge and experience - acquiring and retaining the right competence, knowledge and experience is vital if we are to continue to live up to our motto Expect More".

He stresses the importance of sharing knowledge “in order to create new levels of understanding”, as well as the diversification of The Club’s portfolio as key elements in the company’s strategy.

Norwegian Hull club is a mutual marine insurance company serving members and clients worldwide. The Club provides an integrated claims-leader service, as well as a diverse portfolio of covers for Hull and Machinery, Loss of Hire, Total Loss, War, Builders’/Construction Risks, plus P&I and FD&D. There is also a portfolio of Special Risks products. The integrated claims-leader service includes – but is not limited to – efficient claims handling, emergency response and loss-prevention activities.

Read the full Annual Report 2018 here.

11. Apr. 2019