MARINETAKING THE RISK OUT OF WORLD TRADE

Arthur J. Gallagher Founded by Arthur Gallagher in Chicago in 1927, Arthur J. Gallagher & Co has grown to become one of the largest insurance brokerage and risk management companies in the world. With significant reach internationally, the group employs over 17,000 people and its global network provides services in more than 140 countries.

Outside the US, we use the brand name Arthur J. Gallagher.

Wherever and whenever there is risk we’re there for our clients – from individuals to small businesses to international conglomerates. Our people, our technical expertise and our global reach delivers first class coverage, risk management and placement expertise. We work seamlessly across countries and international territories. Where we do encounter difficulties and complexities we meet them head on. We remove barriers never letting them get in our way.

We just do not give up; whether it’s sourcing cover for the thatched cottage in England; cyber risks across European borders; complex coverage for the international supermarket chain; marine cargo in Australia; political risk coverage in developing economies; energy cover in extreme environments; or helping our banking partners with their comprehensive homeowner offer. We work tirelessly to provide solutions that drive value and competitive advantage for the benefit of all our clients and we nurture our people to do what they do best – promoting and protecting our clients’ interests.

Family values have been core to our culture since our company was founded and this drives the way in which we, Arthur J. Gallagher, look after our clients.

Since 1927 we have built our business for today.

For tomorrow, we continue to invest in our business.

A business without barriers.

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CONTENTS

About us 2

Welcome 4

Hull and Machinery 5

Protection & Indemnity 6

Marine Liability 7

Cargo and Stock Throughput 8

Ports and Terminals 9

Claims 9

Marine Division Management 10

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WELCOME TO ARTHUR J. GALLAGHER’S MARINE DIVISION

Arthur J. Gallagher is one of the leading marine specialists in both the London and international marketplace. Our marine division is part of Arthur J. Gallagher (Specialty); the London based trading operation of Arthur J. Gallagher. There is remarkable strength in depth in technical knowledge and experience and we enjoy excellent relationships with the organisations with which we work.

I am perhaps most proud of our client and staff retention levels. The secret is in understanding the value of partnership, both within our organisation and in the way that we interact with others. We work with our clients and markets to deliver solutions through teamwork and collaboration. Relationships are crucial to us and we build trust on the basis of delivering on our promises.

We service some of the largest marine insurance placements in the market but are equally adept at designing and placing programmes for stand-alone or niche exposures. We are a top five broker, with the punching power to deliver on high value and complex blue chip business and yet we organise ourselves in such a way as to allow for fast and flexible responses to the unique and specialist risks that the larger brokers often falter on. We are, in my estimation, unrivalled in terms of this dual offering.

Claims management and the payment of claims are the ultimate test. We have invested heavily in developing a specialist claims team, dedicated to supporting our clients. The focus is not on meeting clients’ expectations but in exceeding them. In addition, we only use markets approved by our renowned Security Committee, which fiercely regulates both existing providers and potential newcomers on the basis of a number of considerations.

The following pages will offer you some further insight into the Arthur J. Gallagher Marine Division. If you would like to know more, do please make contact with me or one of the team.

Yours sincerely

Jonathan SucklingManaging Director, Specialty Risks, Arthur J. Gallagher

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HULL AND MACHINERY

As you would expect from a key component of the Arthur J. Gallagher Marine Division, our Hull and Machinery team provides market-leading services and placement expertise.

WAR RISKS

Shipping security has become an increasingly important issue within the maritime industry, particularly over the course of the last ten years. War and Piracy now includes the Persian Gulf, the Gulf of Aden and surrounding Indian Ocean, West Africa and Indonesia. With this heightened activity comes an increased risk to shipping companies’ operations, their vessels and their crews. Cover can be arranged on a variety of conditions depending on the requirements of the client. Arthur J. Gallagher always seeks to tailor the most suitable package for the demands and needs of the operation in question.

• Conventional War Risks• Piracy• Kidnap and Ransom• Loss of Charter Hire• Charterers’ lost earnings

With a client base that extends across the full spectrum of the international shipping market, we are able to provide our customers with competitive pricing, obtained from approved insurers, in addition to a service level that means that they are not just another policy number. It is this philosophy that, in our opinion, distinguishes us from the other major brokers.

Led by market practitioners who have many years of experience in this sector and who pride themselves on providing ground-breaking risk transfer solutions for our clients, the team is held in the highest regard by both customers and markets alike.

It is because of our strong relationships with insurers and our in-depth knowledge of the markets that our team is able to secure competitive capacity for risks where others might fail.

Cover can be arranged for:• Hull and Machinery• Increased Value• Freight Interest• Mortgagees’ interest• Loss of Charter Hire• Builders’ Risks • Voyage / Tow Risks• Overside and Underwater Equipment

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PROTECTION & INDEMNITY

We are one of the largest P&I teams in the market, handling over 80 million Dwt of Owned tonnage and over 20 million Dwt of Chartered tonnage, predominantly stemming from Greece, Singapore, Korea, the US, Europe and the Middle East.

Our team comprises ten dedicated P&I personnel (excluding claims staff ) with over 100 years of combined experience in the business.

We enjoy excellent relationships with the International Group Clubs. Several of our clients are on Club Boards. In addition, we have extensive dealings with specialist fixed premium insurers.

Our key selling point is personal service and we pride ourselves on the strong relationships that we build with our clients. We believe that every client, no matter how large or small, is important and we aim to recommend tailored solutions to meet all of their needs.

Our large business portfolio enables us to fully appreciate prevailing market trends in both the shipping and insurance markets and to react to changes in those markets quickly

and efficiently. With P&I insurance, it is essential to have a long-term strategy and to adjust this strategy on an ongoing basis in response to the prevailing conditions.

As you would expect from a market-leader in this field, we also have considerable strength in associated insurances, such as Freight, Demurrage and Defence (FD&D), Charterers’ and Traders’ Liability, Maritime Lien insurance and Certificate of Financial Responsibility (COFR) Guaranties for vessels trading to the US.

Through our regular newsletter, ‘P&I Confidential’, in addition to our comprehensive mid year and annual market reviews, we aim to keep our clients fully abreast of issues in the market, throughout the year. Many of our publications can be viewed or downloaded from: http://www.ajginternational. com/media-and-insights/publications/

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MARINE LIABILITY

The Arthur J. Gallagher Marine Division provides a specialist service in handling marine liability placements for all types of maritime operations across the world. We provide the individually tailored service and comprehensive risk management solutions required to address complex third party liability issues.

Our clients benefit from the high levels of expertise we can offer as well as our strong relationships with the leading international providers of marine liability risk transfer solutions.

Cover can be arranged on a primary or excess basis for the following:• Marine General Liability• Ship Repairer’s Liability• Marina Operator’s Liability• Charterer’s Liability• Wharfinger’s and Stevedore’s Liability• United States Maritime Employer’s Liability• Marine Professional Indemnity

Our client list is varied and expanding but includes:• Shipowners• Charterers• Shipyards and smaller repair facilities• Offshore operators• Companies engaged in dredging activities• Operators with Jones Act exposures

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CARGO AND STOCK THROUGHPUT

Our marine cargo portfolio covers the key trade and cargo sectors of the world, including Europe, the US, Canada, South America, Africa including South Africa, the Middle East and Asia.

We offer a dedicated and focused client service and deliver on that promise, providing protection to a broad spectrum of manufacturers, distributors, wholesalers, importers and exporters. Our areas of expertise include:• Agricultural• Food & beverages• Manufactured goods• Electronics• Industrial equipment• Oil & petroleum products• Pharmaceuticals• Commodity business• Frozen & chilled goods• Construction & project cargoes

including Delayed Start Up (DSU)• Containerised consumer products

We have extensive experience of handling stock throughput insurance, which covers raw materials from the time the goods leave the supplier’s premises, either in the country of origin of the client or from overseas, work in progress (i.e. whilst under manufacture but subject to the process clause), storage of stock and the subsequent transit of finished goods to local and/or overseas buyers. Storage at distribution warehouses, either in the country of manufacture or at the country of destination, can also be covered.

ContainersWe are market leaders in providing customized solutions for container owners, lessors, managers and operators. Our team has gained unmatched experience in working with or within the container leasing industry over many years.

We can offer the following cover:• Damage Protection Policy (DPP)• Physical loss and damage to containers and

related equipment (including missing units)• Storage and repair risks• Insurance for container lessors’ customer

default, including physical loss and damage, recovery, repatriation and loss of revenue coverages

• Credit insurance for loss of predefault accounts receivable

• Political risks insurance covering confiscation, nationalization, expropriation, deprivation and embargoes

Other areas of expertise include:• Global policies• Trade disruption insurance• Stand alone stock (Primary / Excess /

Layered)• War on land & political violence

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PORTS AND TERMINALS

We are recognised as a market leader in arranging the insurance of ports and terminals by clients, underwriters and our broker peers.

As each client is unique, we provide individual solutions to meet their insurance needs.We are committed to building long-term partnerships with clients and their underwriters, and offer first-class service to each and every one of them. The cover we aim to provide is the broadest available at the most competitive price, whilst only utilising the most financially-secure insurers

Clients include:• Port Authorities• Terminal Operators• Stevedores• Ship Agents• Warehouse and Depot Operators• Road Transport Operators• Freight Forwarders, NVOCCs,

Logistics Operators

Cover available includes:• Liability for loss of or damage to cargo

in client care, custody or control• Third Party Liability for property damage,

injury, death or disease• Professional Indemnity for negligent acts

or omissions of staff, breach of warranty• Liability to Authorities including

regulatory breaches• Physical loss or damage to owned or leased

handling equipment• Port property• Business Interruption including blockage

of ports and channels

CLAIMS

Arthur J. Gallagher’s Marine Division has historically placed great emphasis on building a dedicated and professional claims service to respond to the ever-increasing needs of the shipping industry.

Our experience covers all aspects of Hull and Machinery, Protection and Indemnity and related liability claims, Cargo and Stock Throughput and Ports and Terminal business throughout the world.

A fast and efficient claims service cannot be achieved without good working relationships with our clients and their underwriting partners, a principle which we are determined to uphold.

It is our aim to provide our clients with clear and concise advice aimed at reducing difficulties and delays that can arise in the handling of claims settlements.

Your dedicated handlers are available 24 hours a day and seven days a week to offer assistance and advice, handling claims from first notification through to final settlement.

We look to work with insurers and insureds to produce a bespoke claims-handling procedure. The overriding aim is to devise and deliver the most efficient and effective claims-handling procedure with a view to minimising liabilities to claimants whilst ensuring swift and full recovery from providers.

In the past twelve months, we have handled almost 750 new files and collected over $35 million from insurers on behalf of our clients.

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Jonathan Suckling, Managing Director, Specialty Risks, Arthur J. GallagherJonathan’s career started with Sedgwick Limited in 1984, where he gained extensive experience in Hull and Machinery and P&I classes. He joined Swire Fraser Ltd in 1994 with the remit of establishing a Marine division, ultimately assuming the role of joint Managing Director. Following a series of mergers, culminating in the merger of E.W. Blanch with Benfield Grieg in 2001, he left to form the Marine Division of Arthur J. Gallagher, where he holds the position of Managing Director.

Malcom Godfrey, Executive Director, Protection & IndemnityMalcolm has worked in the P & I Market for over 30 years, beginning in 1978 with the West of England P&I Club. By 1983, he had set up his own company, Godfrey Merritt &Company, a P&I specialist broker. In 1993, he joined forces with Ian Robertson to form Godfrey, Merritt, Robertson & Co., where he held the position of Chairman. Malcolm moved to the Heath Lambert Group in 1995, as Managing Director of the Marine department. In 2005, the P & I business was acquired by Arthur J. Gallagher, where Malcolm assumed his current role of Executive Director in the Marine Division.

Andrew James, Executive Director, Hull and Machinery / LiabilityAndrew’s career started at Lowndes Lambert in 1994. Where he obtained a general knowledge in all aspects of marine insurance, including Protection & Indemnity, General Liabilities, Hull and Machinery and ancillaries, including Disbursements, War, Loss of Hire/Trade Disruption. In addition Mortgagees Interest, Political Risks, Professional Indemnity, and Construction risks. In November 2004 he joined Arthur J Gallagher to help expand their Hull and P&I portfolio. In 2011 Andrew was promoted to Executive Director responsible for the Hull and Machinery and Liability teams.

Peter Wilmot, Executive Director, CargoPeter has over 25 years of experience in the London Marine Insurance Market, having worked in all classes of marine and trade-related business, including cargo, hull, liabilities, P&I, reinsurance and political risks. He started his career with Robert Fleming Marine Insurance where he held a number of senior positions before moving to Glenrand to establish a Marine Division. In 2001, he joined the Willis Group as an Executive Director of International Trade and Logistics, as well as becoming the territorial head of the Rest of the World Team, covering Asia, Australasia, Africa and the Middle East. Peter joined the Marine team at Arthur J. Gallagher in 2008 and now heads up our Cargo team.

Malcom Peckett, Divisional Director, Ports and TerminalsMalcolm started his career in the Marine department of L. Hammond & Co. in 1970. Following Lowndes Lambert Group’s purchase of this company in 1971, he began working with the managing director on all major Marine accounts. In 1979, following the formation of John Plumer & Partners Ltd (which was headed up by the former Chairman and Managing Director of Lowndes Lambert Group), Malcolm was asked to form and manage a marine division as a Director of the company. Upon John Plumer & Partners’ merger with Arthur J. Gallagher in 1986, Malcolm assumed responsibility for producing Ports and Terminal business across all geographic territories.

Tim Sullivan, Divisional Director, Office ManagerTim joined Willis Faber Dumas in 1990, working in the direct marine team and handling international accounts for Hull and Machinery, P&I and Cargo risks. In 1995, he joined Swire Fraser Limited as Office Manager for the Marine Division, before leaving with Jonathan Suckling in 2001 to join Arthur J. Gallagher in the newly-formed Marine Division.

Matthew McCabe, Executive Director, Head of ClaimsMatthew joined Leslie & Godwin in 1992 and gained his first experience working in the Marine Claims Division as Cargo Technician and then as Broker for Hull and Machinery, P&I and Liability claims. Following the merger of Leslie & Godwin and Nicholson Chamberlain Colls in 1995 and the subsequent purchase of that group by Aon in 1997, he moved to Swire Blanch Ltd in 1998 as a Claims Broker handling Hull and Machinery, P&I and Liability claims for marine clients worldwide In 2001, Matthew moved from the merged group of Benfield to the Marine Division of Arthur J. Gallagher.

MANAGEMENT TEAM

Arthur J. Gallagher

Walbrook OfficeThe Walbrook Building25 WalbrookLondonEC4N 8AW

Tel: +44 (0) 20 7204 6000Fax: +44 (0) 20 7204 6001

www.ajginternational.com

Arthur J. Gallagher (Specialty) is a trading name of Arthur J. Gallagher (UK) Limited which is authorised and regulated by the Financial Conduct Authority. Registered Office: The Walbrook Building, 25 Walbrook, London EC4N 8AW. Registered in England and Wales. Company Number: 1193013. www.ajginternational.com