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Board of Directors - The Steamship Mutual Underwriting Association (Bermuda) Limited |
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The Steamship Mutual Underwriting Association (Bermuda) Limited (Steamship Bermuda)
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O.H. Fritzner (Chairman)
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Les Cabannes |
| A. Abraha |
Ethiopian Shipping Lines,
Addis Ababa |
| C.J. Ahrenkiel |
Ahrenkiel Consulting Services,
Berne |
| J.L. Brean Q.C. |
Metcalf & Co.,
Halifax |
| H. Golparvar |
Islamic Republic of Iran Shipping Lines,
Tehran |
| I. Grimaldi |
Grimaldi Holdings SPA.,
Genoa |
| S. Hajara |
The Shipping Corporation of India Ltd.,
Mumbai |
| D.M. Ho |
Magsaysay Maritime Corp.,
Manila |
| D.T. Hsu |
Far EasternTextile Ltd.,
Taipei |
| H.M. Juniel |
Reederei F. Laeisz GmbH
Bremen |
| C.S. Kim |
Korea Line Corp.,
Seoul |
| J.R. Lean |
Sydney |
| J.M. Macdonald |
Conyers, Dill & Pearman,
Hamilton |
| A.L. Marchisotto |
Moran Transportation Co.,
Connecticut |
| S. Mehta |
Essar Global,
London |
| J.W. Murray |
Hapag-Lloyd,
Tampa |
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S.V. Naqvi
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Pakistan National Shipping Corp.
Karachi
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P.S. Panagopulos
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Magna Marine Inc.
Athens
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| H.F.L. Schoeller |
Columbia Shipmanagement Ltd.,
Limassol |
| B.K. Sheth |
The Great Eastern Shipping Co. Ltd.,
Mumbai |
| M. Souri |
National Iranian Tanker Co.,
Tehran |
| A. Tung |
Island Navigation Corp. International Ltd.,
Hong Kong |
| M. Verde |
Augustea Ship Management SRL.,
Naples
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| Wang Yu-gui |
China Shipowners Mutual Assurance Association,
Beijing |
| Wei Jia- fu |
China Ocean Shipping (Group) Co.,
Beijing
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The Board is also divided into four committees. All Directors serve on the Claims Committee. For details of the constitution of the remaining three Committees and their Terms of Reference please click onto the link below.
Constitution and Terms of Reference of Committees of the Board of The Steamship Mutual Underwriting Association (Bermuda) Limited
| Audit Committee |
J.R. Lean (Chairman)
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O.H. Fritzner |
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H.M. Juniel |
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S. Mehta |
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Terms of Reference:
The Committee shall:
Consist of at least three independent non-executive Directors and shall meet four times a year.
Liaise with the Managers and Auditors in monitoring the integrity of the financial statements of the Club, and provide overall direction to the Managers concerning:
- the scope of financial reporting to the Board;
- accounting policies and accounting standards;
- the clarity of the Club's financial reports and regulatory returns; and
- the appropriateness and adequacy of the Business Plan.
Review the procedures for detecting fraud and 'whistle blowing'.
Review the effectiveness and resourcing of the Internal Audit function, internal controls and risk management systems.
Approve the terms of engagement of the External Auditor and oversee the relationship, including:
- the approval of remuneration, assessment of independence and the implementation of the policy on the supply of non-audit services;
- the approval of the annual audit plan and audit scope;
- the review of the effectiveness of the External Audit and its findings.
Report to the Board on its activities.
Review its performance, constitution and terms of reference annually.
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| Administrative Committee |
O.H. Fritzner (Chairman) |
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C.J. Ahrenkiel |
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J.L. Brean, Q.C. |
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D.T. Hsu |
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C.S. Kim |
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J.R. Lean |
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J.M. Macdonald |
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S. Mehta |
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P.S. Panagopulos |
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M. Souri |
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A. Tung |
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M. Verde |
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Y.G. Wang |
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Terms of Reference:
Review business plan, forecasts and market developments.
Recommend standard increases.
Oversee outsourcing and joint venture agreements.
Plan Board meetings and organise Committees.
Direct marketing and communications.
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| Risk Committee |
A.L. Marchisotto (Chairman) |
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A. Abraha |
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H. Golparvar |
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I. Grimaldi |
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S. Hajara |
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D.M. Ho |
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H.M. Juniel |
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J.W. Murray |
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S.V. Naqvi |
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H.F.L. Schoeller |
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B.K. Sheth |
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J.F. Wei |
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Terms of Reference:
Define risk appetite and set risk budget.
Review underwriting model.
Review scope of cover and standards of entry.
Review underwriting results.
Review fixed premium business and special risks.
Monitor diversity and spread of business.
Review reinsurance programme.
Review reinsurance results.
Review counterparty exposure.
Monitor reinsurance security.
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| Claims Committee |
J.W. Murray (Chairman) |
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All Directors are Members of the Committee |
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Terms of Reference:
Review claims report.
Review omnibus and claims for special consideration.
Monitor overall claims development and statistical analysis.
Monitor legislative developments.
Monitor international conventions.
Review loss prevention initiatives.
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