angalis mep 2009 - Le Cluster Maritime Français

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le cluster maritime français marine insurance With a market share of more than 6% in 2007, French marine insurance companies are among the leaders in a large independent international market (turnover of 22.1 billion dollars in 2007 - source: IUMI), insuring transporters and operators in international trade against the financial consequences of incidents involving their ships (“hull”) and the goods they transport (“cargoes”). Turnover (hull) 538.3 Turnover (cargoes) 872.9 Total 1,411.2 Jobs in 2005* 1,182 Source: FFSA (2008 figures in €M) *Source: Ifremer On average, French marine insurance is 3rd in the world for all hull and cargo insurance, with a growth rate twice that of GDP. These figures exclude captive markets (Japan and partly the United States). Source: Les Échos. In 2008, the Hull and Cargoes branch recorded a significant increase of 10.5%. Contrary to previous years, the branch’s performance in 2008 was boosted by the rise in the dollar against the euro (the dollar being the currency used in many contracts, especially for hulls). On a constant exchange-rate basis, this 10.5% rise in turnover for the whole marine insurance and shipping sector falls to +8.7%. After a significant deterioration in 2007, the results for marine and transport insurance improved in 2008. The C/P (claims/premiums) ratio of the branch was 71% at the end of the first year (-5 points compared with 2007). This improvement was more marked for hulls (75%, -8 points) than for cargoes (69%, -3 points). The results for 2009 however will certainly be affected by the crisis (reduction in both the volume and value of insurable assets: decline in world trade volumes, sharp fall in commodity prices from their peaks in 2008, collapse of ocean freight rates worldwide). The activities of French marine insurance companies extend way beyond the domestic market: 80% of their turnover is derived from foreign customers and involves nearly a quarter of the tonnage of the world's merchant fleet. Contribution by category in en 2008 - Source : FFSA The French insurance market is: • internationally focused: risks underwritten abroad represent 80% of the total. • quality conscious: the fleets covered are selected with extreme care. No new policy is accepted if there is any doubt as to the quality of management. • powerful: full loss cover up to e150 M per unit. • reliable and creditworthy: - No French insurer is rated less than “A” by Standard & Poors, - The legal solvency ratios required are among the highest in the world, and are strictly monitored by the Ministry of the Economy and Finance. • creative and flexible: The French policy is the most advantageous in the world for shipowners (burden of proof on the insurer) - Shipowners can however select any policy they wish (British, Norwegian, etc.) • and the market benefits from a favourable outlook over the medium term. Despite a depressed economic environment, forecasts indicate steady growth for sea transport and insurable assets over the medium term. fact Distribution of preniums by categories Direct business done in France All cargoes 48 % The average age of the French fishing fleet is more than 24 years. 44 3rd party, transporter 15 % Yachting 12 % Hulls 25 % © meretmarine.com
ADAM ASSURANCES 45 le cluster maritime français Established in 1833, Adam Assurances S.A.S. is a marine insurer based in Bordeaux, an underwriter acting for first class insurance companies on the French market and a specialist in marine and transport insurance throughout the world. AXA Corporate Solutions Acknowledged leader in the transport insurance market • 1,954 billion consolidated revenue in 2008, e405 million of which was contributed by the marine branch (76% cargo, 24% hull) • More than 1,400 employees worldwide, including 260 engaged in marine insurance in France, Dubai, Germany, Hong Kong, Italy, Saudi Arabia, Singapore, Switzerland, the UK and USA • Underwriting capacity of e60 million, plus an AA financial rating • Lead insurer for more than 70% of its portfolio AXA Corporate Solutions is responsible for providing hull insurance for 25% of the world’s commercial fleet tonnage, and cargo coverage for a quarter of the world’s top maritime companies. AXA Corporate Solutions offers a wide range of cover for all types of transport risks: • Hull, loss of charter and IV (increased value) • War risks • Freight forwarders’ liability • Cargo, including storage AXA Corporate Solutions supports customer development through an efficient organisation comprising: • Multicultural and multilingual claims management teams, available 24/7 • A team of marine transport specialists (mostly ex-mariners) in security, risk assessment and loss prevention • An international network that covers more than 90 countries Groupama Transport The only insurance company specialising in marine and transportation insurance. Ranked N° 2 in the French Market for 2008. • Overall volume of premiums: e303,000,000, including e235,000,000 for marine insurance • Assets e123,160,000 • a staff of 275 (including 47 claim adjusters), with qualified teams employing transport industry professionals, experts in insurable techniques and professions. Activities organised around customers' professions in order to offer the best innovations and tailor-made cover (shipowners, fishing activities, port activities, inland craft, pleasure craft, cargo market, transport and logistics activities). With it’s headquarters in Le Havre, GROUPAMA TRANSPORT is close to its clients with teams located in Paris, Marseilles, Lille, Lyon, Strasbourg, Nantes, Pau, La Réunion, London, Hong Kong, Singapore, Milan, Genoa, Madrid and Riga. An insurer meeting clients' expectations, associate member of Intertanko, member of the Seine-Normandie logistics cluster of competitiveness, and engaged in numerous initiatives in sustainable development. fact CMF member - www.adam-assu-mar.com orporatesolutions.com CMF member - www.axa-corporatesolutions.com CMF member - www.groupama-transport.com Most sea pollution is not caused by oil slicks, which in fact are steadily declining in frequency and volume. And yet people still believe this popular myth! © AXA © Groupama Transport
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Page 25 and 26: La Compagnie du Vent 23 le cluster
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Page 29 and 30: © André Bocquel Grand Port Mariti
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Page 35 and 36: 51,265 servicemen and civilians (Co
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Page 67 and 68: The CMF team (photo from left to ri

angalis mep 2009 - Le Cluster Maritime Français

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