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| Industry | Marine insurance |
|---|---|
| Founded | 1937 |
| Headquarters | Rijksstraatweg 361, 9752 CH Haren (Groningen), Netherlands |
Number of employees | 40 |
| Website | https://www.nnpc.nl/?lang=en |
NNPC, an abbreviation of Noord Nederlandsche P&I Club, is a mutual ship insurance company and the only Dutch P&I club.[1] It is a grandfathered member of the IG (International Group of P&I Clubs), which collectively insures over 90% of the world’s tonnage.[2] NNPC is primarily focused on the Benelux and German markets.
History edit
Founding edit
NNPC was founded on 18 January 1937 under the name “Noord Nederlandsche Protectie Club”, with the purpose of insuring Dutch shipowners and captains against liability risks. Until its founding, the only option for Dutch shipowners was to join English P&I clubs. Founders Willem Schuitema, Jacob Kunst and Ebbe Hijlkema wanted to introduce a Dutch alternative. Their negotiations had already begun in the fall of 1936. Their initial goal was to attract coastal shipowners operating in the vicinity of Groningen, who at that time were insured by English P&I clubs.[3][4][5]
Second World War (1940-1945) edit
The breakout of the Second World War had massive repercussions for NNPC. An immediate concern were the hostilities in the Baltic Sea area, which was an important destination for many members and led to the cancellation of many charterparty agreements. During the occupation of the Netherlands, part of the coaster fleet was confiscated by the Germans, although a number of vessels managed to escape to England.[6] About forty coasters which had fled to England took part in various Allied operations during the war, including the rescue operation in Dunkirk and the landing in Normandy.[7] During the first years of the occupation, NNPC made attempts to address the matter of the seized ships, but as the war continued, activity all but ceased.
Post-War Reconstruction (1945-1960) edit
After the war, membership numbers bounced back. The annual report from 1946 shows that NNPC had 120 members by the end of the year, which exceeded the number of members from before the war period. By 1958, NNPC had grown to 500 members, with the club handling 573 claims per year on its members’ behalf.[8]
Downward spiral and modernization (1960-2000) edit
The sixties were a turning point for the coastal and small shipping sector, notably due to the international trend of increased scale and specialization. In 1960, the Dutch fleet of coasters consisted of 930 ships, 500 of which were registered in the province of Groningen. In 1970, these numbers had fallen to 685 and 336 respectively.[9] This downward spiral would continue for another twenty years, until new government regulations created the right conditions for investment and modernization.[10]
Growth and cooperation [2000-present][11] edit
In 2007, NNPC fully aligned its insurance conditions with the International Group Agreement (IGA), one of the pillars of the IG.[12] The biggest change was replacing the system of A and B classes of insurance with the IGA Class I for all P&I cases and Class II for FD&D (Freight, Demurrage & Defence).[13]
Since 2008, NNPC has taken out reinsurance with various parties (including Steamship Mutual, Skuld, North of England and Standard). From February 2024 onwards, after the merger of North of England and Standard P&I, all reinsurances are placed with NorthStandard P&I.
In cooperation with the inland mutual ship insurer EOC, NNPC has since 2013 provided P&I cover for the Dutch inland shipping sector.[14][15][16] This involves approximately 3,500 commercial vessels (as of 2024).
In 2016, NNPC introduced a fixed insurance option for non-mutual clients.
NNPC launched a subsidiary on 20 February 2021 called NNPC Correspondents BV.[17] It is located in Rotterdam and offers P&I correspondent services to the international shipping market.[18][19][20]
Financial results edit
- Gross premium income in 2023: 17.1 million euros (source: NNPC annual report 2023)
- NNPC has equity of 12.2 million euros (source: NNPC annual report 2023)
- The solvency ratio at the end of 2023 was 242%[21]
Partners and network edit
NNPC employs an extensive, worldwide network of correspondents, lawyers and damage experts to assist its members. Furthermore, the club works with partners such as EOC, NorthStandard and Insure Marine Underwriting (IMU).[22][23][24]
Trivia edit
- The company slogan is "Worldwide. Always Around."
- NNPC is the main sponsor of the annual Maritime Awards Gala, where awards are given to innovative companies in the shipping industry.[25]
- In 2019, NNPC sponsored the International Maritime Law Arbitration Moot, held by Erasmus University Rotterdam. During this event, law students took part in a moot maritime tribunal.[26]
- Since 2023, NNPC has offered their members and clients a digital portal providing access to their policies and claims.[27]
References edit
- ^ "Schuttevaer.nl". Schuttevaer.nl (in Dutch). Retrieved 2024-05-19.
- ^ 304. "VAST | Verzekeringsrecht, aansprakelijkheid, schade en toezicht". VAST. Retrieved 2024-05-19.
{{cite web}}:|last=has numeric name (help) - ^ https://www.nnpc.nl/wp-content/uploads/2021/12/NNPC-Historie-1-De-eerste-jaren.pdf
- ^ "75 jaar NNPC Noord Nederlandsche P&I Club / [tekst: Meike Huber, Rutger Middendorp en Aart Merkelijn ; foto's: Wim te Brake]. - 2012".
- ^ nlnnpc-mashinaki (2021-06-30). "Our history | NNPC". Retrieved 2024-05-19.
- ^ nlnnpc-mashinaki (2023-12-19). "Looking for NNPC's stolen merchant ships | NNPC". Retrieved 2024-05-19.
- ^ nlnnpc-mashinaki (2024-02-27). "Our fleet during World War II: Operations Dynamo and Neptune | NNPC". Retrieved 2024-05-19.
- ^ https://www.nnpc.nl/wp-content/uploads/2021/12/NNPC-Historie-2-Bloeitijd-van-de-kustvaart.pdf
- ^ https://www.nnpc.nl/wp-content/uploads/2021/12/NNPC-Historie-3-Zwaar-weer-voor-de-kleine-handelsvaart.pdf
- ^ https://www.nnpc.nl/wp-content/uploads/2021/12/NNPC-Historie-4-De-weg-terug.pdf
- ^ London (undefined), Jim Mulrenan (2004-07-22). "Dutch looking to go international". TradeWinds | Latest shipping and maritime news. Retrieved 2024-05-19.
- ^ "Group Agreements - The International Group of P&I Clubs". www.igpandi.org. Retrieved 2024-05-19.
- ^ https://www.nnpc.nl/wp-content/uploads/2021/12/NNPC-Historie-5-Een-nieuw-millennium.pdf
- ^ "Oranje voor P & I in zee met de NNPC". Schuttevaer.nl (in Dutch). 2014-01-24. Retrieved 2024-05-19.
- ^ nlnnpc-mashinaki (2023-11-29). "Interview: NNPC board member Margreet Huisman | NNPC". Retrieved 2024-05-19.
- ^ London (undefined), Jim Mulrenan (2014-03-14). "Dutch hull mutual merger set to boost Noord Nederlandsche club". TradeWinds | Latest shipping and maritime news. Retrieved 2024-05-19.
- ^ Weber, Roel (2021-08-10). "NNPC Correspondents | About us". NNPC Correspondents. Retrieved 2024-05-19.
- ^ RiskenBusiness (2021-02-18). "Nieuws: De Noord Nederlandsche P&I Club (NNPC) start met NNPC Correspondents BV onder leiding van Niels van der Noll". Risk & Business (in Dutch). Retrieved 2024-05-19.
{{cite web}}:|last=has generic name (help) - ^ "NNPC verzekert zich van sterk maritiem netwerk in Rotterdam". NT (in Dutch). 2021-09-29. Retrieved 2024-05-19.
- ^ "NNPC secures itself of a strong maritime network in Rotterdam - Rotterdam Maritime Capital of Europe". Rotterdam. Maritime Capital of Europe. Retrieved 2024-05-19.
- ^ https://www.nnpc.nl/wp-content/uploads/2024/04/Rapportage-aan-publiek-NNPC-2023.pdf
- ^ "Search - North". www.nepia.com. Retrieved 2024-05-19.
- ^ "Binnenvaart al tien jaar goed verzekerd door NNPC". Schuttevaer.nl (in Dutch). 2024-02-02. Retrieved 2024-05-19.
- ^ "NPPC – Noord Nederlandsche P&I Club". RMSC Directory. Retrieved 2024-05-19.
- ^ "Maritime Awards – Gala 2024" (in Dutch). Retrieved 2024-05-19.
- ^ "International Maritime Law Arbitration Moot | Erasmus School of Law | Erasmus University Rotterdam". www.eur.nl. Retrieved 2024-05-19.
- ^ nlnnpc-mashinaki (2022-07-27). "My NNPC | NNPC" (in Dutch). Retrieved 2024-05-19.