1. Norwegian Marine Insurance Statistics As of 31st December 2000
Page: 4.1.1

2. Norwegian Marine Insurance Statistics As of 31st December 2000
Number of Claims per Type of Vessel
Total 8,206 claims
Total 1,459 claims
Total 535 claims
Page: a

3. Norwegian Marine Insurance Statistics As of 31st December 2000
Cost of Claims per Type of Vessel
Total $1,810 mill.
Total $333 mill.
Total $117 mill.
Page: b

4. Norwegian Marine Insurance Statistics As of 31st December 2000
Number of Claims per Age Group
Total 8,206 claims
Total 535 claims
Total 1,459 claims
Page: a

5. Norwegian Marine Insurance Statistics As of 31st December 2000
Cost of Claims per Age Group
Total $1,810 mill.
Total $333 mill.
Total $117 mill.
Page: b

6. Norwegian Marine Insurance Statistics As of 31st December 2000
Number of Claims per Type of Casualty
Total 8,206 claims
Total 1,459 claims
Total 535 claims
Page: a

7. Norwegian Marine Insurance Statistics As of 31st December 2000
Cost of Claims per Type of Casualty
Total $1,810 mill.
Total $333 mill.
Total $117 mill.
Page: b

8. Norwegian Marine Insurance Statistics As of 31st December 2000
Page: 4.1.5

9. Norwegian Marine Insurance Statistics As of 31st December 2000
Page: 4.1.6

10. Norwegian Marine Insurance Statistics As of 31st December 2000
Page: 5.1.1

11. Norwegian Marine Insurance Statistics As of 31st December 2000
Page: 5.1.2

12. Norwegian Marine Insurance Statistics As of 31st December 2000
Calculation methods for Index Key Factors and Adjusted Rating Development
1) Rating Quality Index
Adjustment Factors: V = (Av.SI year x - Av. SI 1990) / 100 * 0,3
VP = Av.Prem. per vessel year - V
PAPB = VP - (Av.SI 1990 * 0,257) / 100
SPAB = PAPB * Av. (F)DWT per vessel 1990 / Av. (F)DWT per vessel year x
Adjusted values: Adjusted Premium = SPAB + (Av.SI 1990 * 0,257 / 100)
Adjusted Standard Deductible = Av.Std.Ded. * Av.(F)DWT 1990 / Av.(F)DWT year x
(Adj.Prem. + 50% (Standard Deductible < 500,000))rate
= (Adj.Prem.+0,5 * (Adj.Std.Ded < 500,000)) / (Av.SI1990) * 100
Rating Quality Index = (Adj.Prem + 50% (Std.Ded.< 500,000)) rate year x
/ (Adj.Prem. + 50% (Std.Ded.< 500,000)) rate 1990 * 100 for x = 1990 to 2000
2) Cash Index
Factor year x = Net Premium year x+1 / Net Premium year x
Net Premium in this case is the sum over all ships renewed from year x to year x+1 with a Sum Insured and a Standard
Deductible within a 90% margin in relation to the previous years Sum Insured and Standard Deductible
Cash Index (1990) = Factor 1990
Cash Index (year x) = Factor year x * Cash Index (year x-1) for x = 1991 to 1999
3) Loss Ratio Index = Loss Ratio year x / Loss Ratio for x = 1990 to 1999
(Loss Ratio = Total Claims / Net Premium)
4) Claims Cost Index = Claims Cost year x / Claims cost for x = 1990 to 1999
5) Claims Frequency Index = Claims Frequency year x / Claims Frequency for x = 1990 to 1999
(Claims Frequency = No. of claims / No. of vessel years)
Page: 5.2.0

13. Norwegian Marine Insurance Statistics As of 31st December 2000
Rating Development:
Premium = Net Premium per Vessel in % of Sum Insured year x / Net Premium per Vessel in % of Sum Insured 1990,
for x = 1990 to 2000
Premium + (50% of Standard Deductible < 500,000)
= (Net Premium per Vessel + 50% (Standard Deductible < 500,000)) in % of Sum Insured year x/
(Net Premium per Vessel + 50% (Standard Deductible < 500,000)) in % of Sum Insured 1990
Adjusted Rating Development:
Adjustment Factors: V = (Av.SI year x - Av. SI 1990) / 100 * 0,3
VP = Av.Prem. per vessel year - V
PAPB = VP - (Av.SI 1990 * 0,257) / 100
SPAB = PAPB * Av.FDWT per vessel 1990 / Av.FDWT per vessel year x
Adjusted values: Adjusted Premium = SPAB + (Av.SI 1990 * 0,257 / 100)
Adjusted Standard Deductible < 500,000
= (Average Standard Deductible < 500,000) * Av.FDWT 1990 / Av.FDWT year x
(Adj.Prem. + 50% (Standard Deductible < 500,000))rate
= (Adj.Prem + 50% (Adjusted Standard Deductible < 500,000)) / Av.SI 1990 * 100
Premium = Adjusted Premium year x / Adjusted Premium 1990, for x = 1990 to 2000
Premium + 50% (Standard Deductible < 500,000)
= (Adj.Prem + 50% (Standard Deductible < 500,000)) rate year x
/ (Adj.Prem. + 50% (Standard Deductible < 500,000)) rate 1990 * 100
Page: contd.

14. Norwegian Marine Insurance Statistics As of 31st December 2000
Page: 5.2.1

15. Norwegian Marine Insurance Statistics As of 31st December 2000
Page: 5.2.2

16. Norwegian Marine Insurance Statistics As of 31st December 2000
Page: 5.2.3

17. Norwegian Marine Insurance Statistics As of 31st December 2000
Comment:
Deductibles <=97 based on database before restructuring of underwriting years
Deductibles >= 98 based on the ”new” database
Page: 5.2.4