The new CEO of the Norwegian Hull Club has written to the insurer’s members and clients laying out his plans to grow the business and develop new offerings.
Faz Peermohamed, who officially took responsibility for the 15-year old marine insurer on 1st January, informed members that he intends to conduct a review of the club’s products and services with the aim of identifying opportunities for change and growth.
Mr Peermohamed said: “My first task is to review the club’s overall position with the aim of maximising our potential and identifying new opportunities.
“My goal is twofold: to nurture that which our members value about the club while developing new competitive solutions to help them manage their businesses in today’s changing market. It is my aim to grow the club’s core business in a measured and sustainable way in order to offer a wider range of products to protect maritime organisations against a growing array of risks, while at the same time maintaining a financially robust organisation with top quality service.”
Addressing the changing nature of the marine industry, Mr Peermohamed said: “Shipping is a complex and dynamic industry – a reality impressed upon me by my own career as a ship’s master and maritime lawyer. Owners face increasing regulatory and legislative burdens while dealing with world events such as ever-changing market conditions, the Mediterranean refugee crisis, the struggle to find new access to financing, the ongoing issue of sanctions, and a whole range of other such challenges.
“In the face of these pressures, the Norwegian Hull Club’s mission is to make our members’ and clients’ lives easier, not harder.”
Faz Peermohamed, formerly global head of shipping with leading international law firm Ince & Co, succeeds John Wiik as CEO of the Norwegian Hull Club.
Norwegian Hull Club ranks as one of the world’s largest pure marine underwriters and insures more than 10,000 unique vessels and units (as of March 2015). Close to 5,000 of these are on claims led by the club. It employs over 120 people in Bergen, Oslo and Kristiansand.