ITIM News

THE BALTIC EXCHANGE TENNIS TOURNAMENT 2003

Despite sweltering temperatures at the Surbiton Tennis Club in West London, ITIC/Thomas Miller's first pairing of Damian Mustard and Chi Wong successfully defended the Fehr Trophy at this year's Baltic Exchange Tennis Tournament. The draw clearly worked in the pair's favour, with a first round bye and the fact that the other finalists, E.A. Gibson’s first pair, endured a marathon third-round match throughout the lunch break whilst Damian and Chi enjoyed their strawberries. Nevertheless, hard work still needed to be done in the semi-finals with a well fought win on number one court over Cargill.

ITIC/Thomas Miller's second pair again featured ITIC's Chairman, Paul Vogt, partnered this year by ITIM's General Manager, Roger Lewis. Although losing to E.A. Gibson's first pair, and eventual finalists, in the first round, superior fitness and stamina prevailed as opponents in a plate competition were either defeated or retired in the heat to the refuge of the club house.

This was an excellent event with a number of shipbrokers, owners and charterers being represented. Thanks must go to Perry Phua for again organising an excellent day's tennis. If you would like to enter next year's tournament, which always takes place the week after Wimbledon, please contact Perry Phua at pbperera@totalise.co.uk

THE ITIC INSURANCE BROKER’S GOLF DAY was held in October in fantastic warm “Indian summer” weather. The winner was Chris Ryan of Willis.

CROSSWORD COMPETITION. There was a huge response to last year’s Intermediary crossword competition. It was obviously too easy! The first name drawn out of the hat on 3rd January was Campbell Smith of Campbell Smith Enterprises Pty Ltd. Well done and we hope that you enjoyed the champagne.

GENOA BOARD MEETING

The ITIC Board met at the Jolly Hotel Marina in the port city of Genoa on 1st April 2003. Following the retirement of Mr.Peter Lampke from the Board, Mr.Christoph Döhle of Paul Günther Schiffsmakler GmbH & Co., Hamburg, was appointed as a Director of the Club and joined the Meeting.

A full agenda saw the Directors considering management fee, Rule changes, renewal of the Club’s reinsurances, free reserves of the Club, and the 1st June, 2003 renewal. They also agreed to the closure of the Club’s 2000 policy year, thus leaving only two years open.

The Board considered that the equivalent of one year’s gross premium still represented an appropriate maximum for the Club’s global free reserves, thus opening the way for the payment of another year’s continuity credit. Following a lengthy discussion it was agreed that the level of continuity credit payable to renewing Members from 1st June, 2003 should be maintained at the previous year’s levels.

The Directors also noted that the Club’s reinsurances had been extended to 2005 and a record increase in premium and new Members was forecast for 2002.

At an evening Reception the Directors took the opportunity to meet Members from all over Italy and discuss current issues.

The next Board Meeting will be held in London in October 2003 and in March 2004 the Directors will be meeting in Sydney.