2020 and Beyond… !
2020 and Beyond… !
Past, present and future
Dear Colleagues, Clients, Broker friends and other Business Associates
This year, I have the pleasure to give you the customary highlights of 2019 as well as our first impressions, targets and expectations for 2020.
It is undoubtedly a recognition of NMI’s value, first class reputation and brand as well as the competence of our team.
It also confirms the innovative approach of West to developing correlated business ideas through recognised field niche specialists.
A pragmatic approach and one of the many common denominators making this development a good match.
“This new partnership does not change in any way the modus operandi of NMI, which remains a totally independent niche provider.”
Since January 2020, more than 70 vessels and 5 new clients have taken the same decision but, more importantly, all existing clients continued their relationship with us and as of today we have more than 800 vessels on risk.
We are very proud of the above figures as, first and foremost, they attest of the continuing satisfaction of our existing clients with the solutions and service we thrive to deliver.
They also underline the growing acknowledgement of NMI’s selective and professional approach to provide cost and work efficient “mainstream gap” solutions and commitment to deliver first class individual service.
We are proud of being a dedicated marine niche insurer and realise the importance of being able to adapt our activity to the changing needs of first class prudent operators.
“The continuing growth we experience in all markets is a clear sign of market’s recognition of NMI…”
… as the leading driving force of development of niche marine insurance solutions… something we are very proud of and thank all our partners for.
Yiannis joined as an underwriter, is based in our Greek office with Constantinos Elmaoglou and has a solid experience in H&M underwriting.
We will soon further beef up the claims’ team with one more person and give our Claims’ Director Magnus Hammarqvist a needed help and lay the foundations for the continuity and further development.
Magnus has largely contributed in the “ad hoc” developments designed to respond to new areas of risk for clients such as scrubbers or the, then, impending Sulphur 2020 regulations.
As most brokers and operators keep telling us : things are not likely to get easier !… so he has plenty of work cut out for him this year already !
Finally, a special mention for our accounting and compliance support teams, thanks to which NMI’s first quality service is provided. The good feedback from our business associates on how swift and efficient those support functions work at NMI is vital and instrumental to providing first class service to brokers, clients and reinsurers.
Our priority has never changed: to serve top quality clients with solutions that are unique in their substance and not just on paper, sharing risks in more often than not “unchartered waters”.
Our hands-on experience and technical ability to define solutions in a simple-to-use format and deliver them in a cost-efficient way, on fixed premium basis and, last but not least, profitably, has convinced and is convincing more and more operators to entrust us and give us the privilege to serve them.
It would have been impossible to achieve this without the support from brokers, clients and reinsurers and all of us at NMI can only be thankful for that.
Of course, this adventure is still a baby and the new chapter that has just begun will bring new challenges and opportunities, something we cannot wait for !
We strongly believe that it will become more and more obvious to operators that going beyond “ticking the box” of compulsory “mainstream” covers will be the safest route to long-term profits…
…and we believe just as strongly that NMI is the ideal partner to share the voyage with.
