Our history

Growth in vessel guaranties issued by SIGCo since Inception

Since its founding in October 1996, SIGCo has grown to be the predominant COFR guarantor and market leader. A focus on customer service and adding value to COFR guaranty buyers has underpinned SIGCo’s market presence. By July 2017, SIGCo had nearly 12,000 guaranties in place from shipowners representing all sectors and geographic areas.

Growth of SIGCo Guaranties for all vessels types as a proportion of all guaranties

Across all vessel types, including both "blue water" and "brown water" risks, SIGCo issued 11,711 guaranties as of July 2017. This is more than all other guarantors combined and represents 52% of the total COFR market by number of vessels.

Proportion of the world fleet guarantied by SIGCo as of July, 2017

By 2017 the world fleet had grown to 1.25 billion Gross Tons, according to figures provided by the United Nations Conference on Trade and Development. In July 2017 SIGCo’s insured fleet, measured by Gross Tonnage was 514 million, equivalent to 41% of the total world fleet tonnage.

SIGCo market share as a percentage of all "Blue Water" guaranties issued as at July 2017

SIGCo’s core business is providing COFR guaranties to world wide shipowners engaged in ocean going trade to and from the United States – more generally referred to as "Blue Water" shipping. Analysing this blue water sector of the COFR guaranty market shows SIGCo having 69.3% of the total sector business. Clearly SIGCo’s full service package of benefits for shipowners and its reputation for service and professionalism has proven to be very attractive for shipowners trading to the USA.

Number of bonds issued over time

As well as its core COFR guaranty business, SIGCo offers an International Carrier Bond (ICB) programme for its members that ship cargoes to the USA. This programme began in 2004 and grew quickly to its current level. SIGCo now arranges approximately 900 ICBs each year through our US based surety bond partners.