Norwegian Marine Insurance Statistics Underwriting Year as of 31st December 2001

Norwegian Marine Insurance Statistics As of 31st December 2001 Index 1.Introduction 2.Fleet characteristics 2.1Number of 2.1.1… fleets and vessels per underwriting year … vessels per type of vessel 2.1.3… vessels per classification society 2.1.4… vessels per flag 2.2Total (F)DWT 2.2.1… per underwriting year 2.2.2… per type of vessel 2.2.3… per classification society 2.2.4… per flag 2.2.5… per size group 2.2.6… per age group 2.3Average age 2.3.1… per underwriting year 2.3.2… per type of vessel, … per classification society 2.3.4… per flag 2.3.5Age structure per classification society in 2000 and 2001 Page: I

Norwegian Marine Insurance Statistics As of 31st December Insurance/Premium report 3.1Total sum insured 3.1.1… per underwriting year 3.1.2… per type of vessel 3.1.3… per size group 3.1.4… per age group 3.1.5… per classification society, 6 largest 3.1.6… per flag, 8 largest 3.2Total premium 3.2.1… per underwriting year 3.2.2… per type of vessel 3.2.3… per size group … per age group 3.2.5… per classification society, 6 largest … per flag, 8 largest Page: II

Norwegian Marine Insurance Statistics As of 31st December Casualty report 4.1.1Total claims per underwriting year aNumber of claims per type of vessel bCost of claims per type of vessel aNumber of claims per age group bCost of claims per age group aNumber of claims per type of casualty bCost of claims per type of casualty 4.1.5Number of claims per type of casualty - Period Cost of claims per type of casualty - Period Underwriting results and trends 5.1.1Underwriting results as of Total results for all risks registered by NoMIS 5.1.2Underwriting results as of Average results per vessel per underwriting year 5.2.0Calculation methods for Index key factors and Rating Development 5.2.1Index key factors 5.2.2Rating development 5.2.3Adjusted rating development 5.2.4Average deductible development Page: III

Norwegian Marine Insurance Statistics As of 31st December 2001 Introduction The Norwegian Marine Insurance Statistics (NoMIS) is a co-operation between four of the members of the Central Union of Marine Underwriters (CEFOR) for the purpose of compiling and processing statistical information. Until 1997 the data was compiled by appointing NoMIS a compulsory facultative reinsurer to which the member companies ceded 0.1% of their hull and machinery insurance. In addition to the regular information about premiums and claims exchanged on bordereaux, the lead insurer provided NoMIS with a detailed breakdown of each claim. Since 1990, this improved material has been available to the members of NoMIS, providing statistics and analyses enabling them to enhance their underwriting and risk assessment. In 1998 it was decided to discontinue the facultative insurance agreement in favour of updating the NoMIS database electronically. The consequent necessary amendments to the database as well as the routines for updating were developed in 1999 and tested by the members in cooperation with CEFOR. In 2000 a further step was taken to restructure the database, such that from underwriting year 1995 all business underwritten by the NoMIS members is now updated electronically. This enables the NoMIS’ members to show up to date figures at any time for all Underwriting Years. As of 31 December 2001 the NoMIS database comprises 53,167 vessel years and 20,113 claims. This report contains statistics based on both Norwegian and International business for the period Page: 1.1.1

Norwegian Marine Insurance Statistics As of 31st December 2001 All presentations are in USD and the figures have been converted from the original currencies into USD based on the rate of exchange applicable: - Premiums: average monthly rate of exchange of the month of transaction - Paid claims:average monthly rate of exchange of the month of transaction - Outstanding claims:average monthly rate of exchange of December 2001 All premiums are net of all rebates and commissions. All claims are net of any deductibles applicable. (F)DWT in this report represents the maximum of either FDWT or DWT per vessel with Formula deadweight tons FDWT calculated as: Length between perpendiculars * Moulded breadth * Moulded depth Total Claims = Paid Claims + Outstanding Claims Loss Ratio = Total Claims / Premium Underwriting year = year in which the insurance attaches Page: 1.1.2

Norwegian Marine Insurance Statistics As of 31st December 2001 Types of vessels specified BULKBulk, Ore CAR/RoRo/CONT.Car Carrier, Ro/Ro, Container CHEM./PRODUCTChemical Carriers Product GENERAL CARGODry Cargo, General Cargo, Reefers, Multi-Purpose, Pallett Vessels LNG/LPGLNG, LPG, LNG/LPG, Other Gas Carriers OBOCombined vessels, Bulk Container, Obo, Probo, O/O OTHEROther special vessels, Flo/Flo, Cable Lying Barge, Floating Crane, Heavy Lift, Barge/Pontoon, Barge Carrier (LASH), Tug, Fishing Factory, Fishing Vessel, Cement Carriers, Other Cargo Carriers, Coast Tanker, Work Boats, Coaster General Cargo, Floating Dock, Floating Crane, Coast Guard Vessels, Barges, Research Vessels, Sand Carriers Coaster, Pontoons, Ferry Boat, Tug/Salvage, Yacht, Floating Factory/Terminals, Undefined Page: 1.1.3

Norwegian Marine Insurance Statistics As of 31st December 2001 Types of vessels specified contd. PASSENGERFerries, Other Passenger, Passenger Catamaran, Cruise ships, Hotel-Vessels, Car Passenger Ferries, Hurtigruteskip, Passenger Vessels, Other Liners Passenger/Cargo, Highspeed craft SUPPLY/OFFSHOREOther Offshore, Drilling Vessels, Diving/General Service Vessels, Barge/Pontoon, Stand-By, Seismic Search Vessels, Supply (Tug, Anchor), Tug/Icebreaker, Pipe Laying Barge/Vessel TANKTankers, Asphalt Carriers, SPM Tanker, Oil Tanker Page: 1.1.4

Norwegian Marine Insurance Statistics As of 31st December 2001 Page: 2.1.1

Norwegian Marine Insurance Statistics As of 31st December 2001 Number of vessels per type of vessel Total 30,792 Total 5,242 Page: Total 5,193

Norwegian Marine Insurance Statistics As of 31st December 2001 Number of vessels per Classification Society Total 30,792 Total 5,242 Page: Total 5,193

Norwegian Marine Insurance Statistics As of 31st December 2001 Number of vessels per Flag Total 5,242Total 5,193 Page: Total 30,792

Norwegian Marine Insurance Statistics As of 31st December 2001 Page: 2.2.1

Norwegian Marine Insurance Statistics As of 31st December 2001 Total (F)DWT per type of vessel Total 290 mill FDWTTotal 277 mill FDWT Page: Total 1,494 mill FDWT

Norwegian Marine Insurance Statistics As of 31st December 2001 Total (F)DWT per Classification Society Total 290 mill FDWTTotal 277 mill FDWT Page: Total 1,494 mill FDWT

Norwegian Marine Insurance Statistics As of 31st December 2001 Total (F)DWT per Flag Total 290 mill FDWT Total 1,494 mill FDWT Total 277 mill FDWT Page: 2.2.4

Norwegian Marine Insurance Statistics As of 31st December 2001 Total (F)DWT per Size Group Page: Total 1,494 mill FDWT Total 277 mill FDWT Total 290 mill FDWT

Norwegian Marine Insurance Statistics As of 31st December 2001 Total (F)DWT per Age Group Total 1,494 mill FDWT Total 277 mill FDWT Page: Total 290 mill FDWT