Corporate Governance

The Club can trace its history back to 1869 when the association of ship owners, which was subsequently incorporated as The United Kingdom Mutual Steam Ship Assurance Association Limited ('UK London'), was formed.

The Club is a mutual marine insurance business providing cover for marine P&I risks. The insurance business of the Club is carried on by UK(Europe) (operating through its head office in the United Kingdom and branches in Hong Kong, Japan and Singapore), UKNV and UK London. UK(Bermuda) acts as the Club's internal reinsurer. At any one time, UK(Bermuda) holds approximately 90% of the Club's funds and arranges for investment of those funds. UK London is in run-off. The policyholders of the Club are all Members of UK(Europe).

Organisation

The Club delegate its day-to-day operation of the Club to the Thomas Miller group of companies (‘Thomas Miller’) who are responsible for implementing the policies laid down by the Directors of the respective companies.

The Directors of UK(Europe), UKNV, UK(Bermuda) and UK London play a key role in the running of the Club. The mutual nature of the governance structure imposes key responsibilities on the Directors to make important decisions with respect to the Club as well as having proper oversight and control of the Managers.

Thomas Miller is paid a management fee for its services, which is reported in the annual accounts of the Club. The Club’s relationship with Thomas Miller dates back to 1885.

Members’ Committee 

The Members’ Committee

The Members’ Committee focuses on matters related to shipping and the services offered by the Club, including industry and legislative developments, loss prevention and marine risk management, discretionary claims, proposed changes or developments in cover, and other matters reflecting the mutual interests of the Membership. The Members’ Committee is consulted by the regulatory Boards on strategic matters, such as development of the Club’s corporate rolling plan, and financial matters such as any proposals to reduce or increase premiums.

Features

  • 3x meetings a year
  • Comprises solely Directors representing entered fleet
  • Individuals serving on Members’ Committee do not have to be a regulated Director
  • Can concentrate on representational and discretionary matters, and subjects related to shipping
  • Reduce duplication of effort between Boards
  • Consultation rights for Members Committee; imposing a general increase, levying a supplementary premium, agreeing a discount on the mutual premium 

DIRECTORS ON MEMBERS’ COMMITTEE

(The Members’ Committee comprises solely of elected representatives of the Members) 

CHAIRMAN

N.G. Inglessis - Alberta Shipmanagement Ltd

DEPUTY CHAIRMEN

N.H. Schües - Reederei F. Laeisz GmbH 
P.A. Wogan - GasLog Ltd 
R. Chen - Wan Hai Lines Ltd

Members

A. Shehab - Kuwait Oil Tanker Co SAK
P. Bagh - Oldendorff Carriers GmbH & Co, KG 
H. Boudia - Hyproc Shipping Company
A. Chao - Foremost Group 
A. Frangou - Navios Maritime Holdings Inc
A.M. Gibson - Royal Caribbean Cruises Ltd
D.W. Grzebinski - Kirby Corporation 
I. Güngen - Güngen Maritime & Trading A/S 
A. Hadjipateras - Dorian LPG
N.A. Hadjiyiannis - Hellenic Tankers Co Ltd
P. Hajioannou - Safe Bulkers, Inc
G. Henderson, OBE Shell International Trading and Shipping Company Ltd
Y. Higurashi - NYK Line
E. Louis-Dreyfus Louis Dreyfus Armateurs S.A.S 
S. Messina - Gruppo Messina SpA
N. MukaeKumiai Senpaku Co., Ltd 
M. Nomikos - A.M. Nomikos Transworld Maritime Agencies SA
D. Ofer - Zodiac Maritime Limited 
S. Paliou - Diana Shipping Services SA
M. Pavić - Tankerska plovidba d.d.
M.H. Ross - Chevron Shipping LLC
N. Smedegaard DFDS A/S 
K. Takayama ENEOS Ocean Corporation 
Tao Weidong - China COSCO Shipping Corporation Limited
J. Toledo de Souza - Petrobras Transporte S/A – Transpetro
J.M. Valkier - Anthony Veder Group N.V 
S.N. VlassopoulosIonic Shipping (Management) Inc
M.R. Wade Grindrod Shipping Holdings Ltd
Wang Yongxin - China Merchants Energy Shipping Co Ltd
Y.C. Yee MISC Berhad 
R. Zein Naftomar Shipping and Trading Co Ltd 

Board of Directors

Boards & Committees

UK(Europe) Directors

  • The regulated Board of UK(Europe) is composed of at least 3 but not more than 15 Directors
  • 5x meetings a year
  • a representative, employee or Director of the Managers or the Managers' agents OR such other person as the Member and/or Director see fit

CHAIRMAN

N.G. Inglessis - Alberta Shipmanagement Ltd

DEPUTY CHAIRMEN 

N.H. Schües - Reederei F. Laeisz GmbH 
P.A. Wogan - GasLog Ltd 
R. Chen - Wan Hai Lines Ltd

DIRECTORS

R.C. Gillett
Y. Higurashi - Nippon Yusen Kaisha 
N.H.H. Smith
A.J. Taylor
N.C. De Silva

UK(Bermuda) Directors

The regulated Board of UK(Bermuda) is made up of four Directors representing entered fleets/independent Directors with specialist financial and reinsurance expertise.

CHAIRMAN & PRESIDENT

N.H. Schües - Reederei F. Laeisz GmbH

Directors

R.C. Gillett 
E.T. Richards
A. Sodergren

Under the Bye-Laws, Directors are obliged to retire upon attaining the age of 70 years or if they otherwise cease to be eligible for appointment.  Directors must retire after 3 years and may offer themselves for re-election.  As referred to in the Guidelines for selection and re-appointment of Directors (set out below), Directors normally serve on the Boards for a maximum of twelve years.

Terms of Office for Chairman and Deputy Chairmen

Each year the Members’ Committee elects a Chairman and Deputy Chairmen; there are currently three Deputy Chairmen. The Board has stipulated that the maximum term of office of the Chairman shall be five years. In 2003 the Board agreed guidelines for Deputy Chairmen to the effect that Deputy Chairmen should not normally serve a consecutive term in office in excess of six years; and the appointment of new Deputy Chairmen should if possible be staggered so that there is a degree of continuity.

The UK Club holds an annual general meeting at the same date and venue as its November Board meeting.

Among other business conducted at these meetings is the election of new Directors, re-election of existing Directors and changes to the Club cover as defined by its Rules and Bye-Laws.

Members wishing to vote at the AGM and who have not had their proxy form should contact the Secretariat at Thomas Miller P&I (Europe) Ltd.

Terms of reference

  • Terms of Reference UK Bermuda (Feb 2020) (35 KB)

    18/06/2020

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  • Terms of Reference UK Europe (Feb 2020) (36 KB)

    18/06/2020

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  • Terms of Reference UK London (Feb 2020) (36 KB)

    18/06/2020

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  • Terms of Reference MEMCO (Feb 2020) (27 KB)

    18/06/2020

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  • Terms of Reference GARCO (Feb 2020) (38 KB)

    18/06/2020

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  • Terms of Reference IVCO (Feb 2020) (27 KB)

    18/06/2020

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  • Terms of Reference NOMCO (Feb 2020) (35 KB)

    18/06/2020

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  • Terms of Reference QUALCO (Feb 2020) (35 KB)

    18/06/2020

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  • Terms of Reference STRATCO (Feb 2020) (33 KB)

    18/06/2020

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