Who We Are

Who We Are

About Lochain Patrick – Our People
Our People

What We Do

About Lochain Patrick – Our People
About Us

Our Markets

Areas of Expertise

Claims Handling

About Lochain Patrick – Our People
HW Kaufman Group
50%

Energy

Global Energy Trends
Since 2000, energy consumption globally has increased by almost 50%. Spurred by the sustained economic growth and rising demand, China has been the world’s largest energy consumer since 2009.
Source: https://www.enerdata.net/publications/reports-presentations/world-energy-trends.html
Chinese & India energy consumption posted its highest growth since 2012, mainly driven by power generation, strong industrial demand and increasing transport fuel consumption encouraged by a growing vehicle fleet.

Energy Mix Outlook
Source: Wood Mackenzie Energy Markets Service H2 2018

Global Oil Demand
Source: Wood Mackenzie

About Lochain Patrick – Our People
Energy Takeaways
The Energy Transition is a mega-trend, but its pace of adoption is dependent upon pace of technology development and adoption
Oil demand growth continues in the medium term, as passenger cars represent only around a quarter of oil demand.
Oil remains the largest fuel till 2040– with gas eclipsing coal by the 2030.
OPEC needs to extend its production restraint for a year or so to balance the oil market before slowing US tight oil supply growth re-establishes the greater role of OPEC.
Meaningful and Significant CAPEX will be allocated to Renewable energy and will be diverted once the ROE improves.

So how can Lochain Patrick support the growth of our Producing Broker ?

About Lochain Patrick – Our People
Expertise in Energy Packages -
Upstream -
Control of Well and Operator’s Extra Expense, including Redrilling, Restoration and Removal of Debris
Physical loss or damage to all assets, including platforms and FPSO’s
Oilfield services and contractors equipment
Drilling contractor fleet (Onshore and Offshore Drilling Rigs)
Third party and contractual liability, including pollution
Construction of offshore assets and infrastructure and related onshore facilities
Business interruption and loss of profits, including delay in start-up and loss of hire
Decommissioning operations
Terrorism and political violence
Cyber exposures

Expertise in Energy Packages -
Midstream -
Physical Loss or Damage
Onshore Property including:
Pipelines
Terminals
LNG Plants
Tank Farms
Third Party and Contractual Liability, including Pollution
Terrorism and Political Violence
Business interruption and Loss of Profits
Cyber Exposures

Expertise in Energy Packages -
Renewable Energy –
Focus on delivering solutions for:
Solar
Wind – Offshore and Onshore
Construction:
Advanced loss of profits/delay in start-up
Construction all risks/erection all risks
Liability
Marine cargo and associated delay in start-up
Terrorism/political violence
Cyber risks
Operational :
Property damage
Business interruption
Liability
Terrorism/political violence
Cyber risk

Market Update
Upstream
Estimated Capacity ~USD 9bn but market following selective & centralised leadership
Pressure to raise rates but due to abundant capacity and benign loss levels market is witnessing ‘flat’-ish renewals.
Insurers are augmenting their portfolios with midstream business won from the downstream market.
Onshore OEE / Rig losses in 2018 & 2019 and few attritional losses which has made a dent in the upstream book.
Premium income pool still depleted, Upstream premium income has fallen by USD 2bn in last nine years.
Couple of losses totalling up to USD 1bn and market conditions could change.
Offshore construction is the exception to the rule
Losses far outweigh the relatively small premium income pool.
Subsea drive underwriting losses.
Some market leaders are sensing an opportunity as rates rise significantly.
(3 times)
Limited markets and capacity for Offshore construction ( 60% )

Market Update
Downstream
Market conditions are increasingly challenging.
Estimated Capacity USD 6bn down by 0.5bn but market following selective leadership as the loss record remains poor.
Management pressure on underwriters to raise rates and reduce line size.
40%+ rate rises from 2018.
Carriers are moving toward greater verticalisation of placement.
Business Interruption – increased focus for underwriters.

Definition of Upstream, Midstream and Downstream

Why Lochain Patrick Insurance Brokers…?
Expertise
Market contacts
360 degree approach with flexibility.
Focus on Producing broker
Broking and Technical support.

The Energy Team…
With OVER 100 years of COMBINED experience in the team for managing Energy Risks
Richard Court – Broker
Richard has spent over 25 years specialising in oil and gas risks both on the direct and reinsurance side of the account.
After running the Facultative Reinsurance offshore energy team at one of the Alpha broking houses for over 4 years, Richard now runs the Reinsurance Division of Lochain Patrick, again specialising in Oil and Gas Risks.
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Riten Shah – Broker
Riten accomplished his Masters in International Business and Finance. He started his career in 2005 and has got retail and Wholesale experience in MMC Broking Firm. He then joined Canopius as an Energy Underwriter in 2013 where he focused on underwriting Global Energy accounts until 2018.
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Nik Hutty – Technician
Nik obtained his Degree in Astrophysics from the University of Kent in 2014, and then joined Lochain Patrick Insurance Brokers straight from University. He has been involved in every aspect of Marine and Energy Insurance over the past 5 years, servicing and finding solutions for clients requirements.
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Andrew Woodgate – Technician
Andrew Spent the first 19 years of his career in various Marine Hull and Energy underwriting positions in the London Market. Overall 35 years of experience in Insurance and Oil and Gas Industry.
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Terry Humphreys – Claims Director
Terry is our Director of Claims, having joined Lochain Patrick in 2018. He has over 30 years’ experience in the London Marine Insurance Market as a broker / negotiator, and has significant experience in all aspects of Marine and Energy Claims, including Hull & Machinery and Marine Insurance Liabilities.
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Justin Murphy – Claims Manager
Justin is a Marine claims specialist with over 30 years’ experience in servicing international clients across all classes of Marine and Energy insurance. Justin joined LPIB in 2019 as Claims Manager and adds a wealth of knowledge and expertise to this key part of our business.
[e-mail]

…and Beyond!
Roy Bearman – War and Terrorism Broker
After initial 9 years underwriting within Lloyd’s and Company Markets Roy joined Lochain Patrick Insurance Brokers at its formation in 1987.
Stephen Horsfield – Liability Broker
Stephen joined Lochain Patrick Insurance Brokers at the beginning of 2015 bringing with him 31 years’ experience as a Lloyd’s broker. He focus on broking Energy and Marine Liabilities and Cargo risks.
Jack Carruthers – Broker
Jack joined Lochain Patrick Insurance Brokers in 2005. He joined the Marine broking team in 2008 forming relationships with both clients and underwriters. Jack is involved in a wide variety of Marine Insurance including H&M, Energy, War Risks and Kidnap & Ransom.
Wayne Snedden - Head of Cargo
Wayne joined LPIB in 2018 bringing with him 18 years of experience in Cargo. He is currently responsible to expand Cargo book .