Industry Segments: Marine Page 1 / 9
- March 23 2023
Japanese shipper seeks sovereign guarantee for war-risk vessels: report
NYK Line has asked the government to consider offering support similar to a 2012 bill that benefited tanker owners transporting Iranian oil amid European Union sanctions.
- March 22 2023
Further correction to Asia marine likely to be elusive
The market is still under-priced but rate increases lag behind the European and US markets.
- March 17 2023
Axa XL strengthens Asia marine team with two senior level promotions
The insurer has named Itono Hakim as head of marine hull and aviation and Woei Chi Tan as hull practice leader for the region.
- March 9 2023
Philippines oil spill could cost Shipowners’ Club over US$100m
IAN understands that the P&I club is the sole insurer on a sunken oil tanker that was carrying 800,000 litres of toxic fuel oil.
- March 2 2023
Nexus appoints Hong Kong general manager and head of marine Asia
Oliver Miloschewsky was most recently client development director at Concirrus.
- February 28 2023
Gard promotes Louis Shepherd as Japan managing director
Shepherd replaces John Martin, who has acted as interim MA of Gard in Japan since Tadashi Sugimoto stepped down in October 2022.
- February 23 2023
Asian fleets boost P&I clubs’ renewals
After a tough start, many clubs saw close to 50% renewed gross tonnage coming from Asia.
- February 17 2023
Asia P&I club renewals go down to the wire
Rate increases, drawn-out negotiations and the lunar new year delay February 20 renewals in the region.
- February 16 2023
Elizabeth Gill joins Sedgwick as Malaysia marine general manager
Gill has over four decades experience including the handling of many major and complex claims in marine cargo.
- February 15 2023
Ping An floats first-ever ocean carbon sink insurance
Product provides US$58,000 worth of cover against specific changes in the marine environment that damage local species.
- February 13 2023
Bangladesh reinsurance policies at risk of lapsing due to dollar shortage: report
Several cedents have been unable to pay premiums over many months due to restrictions on foreign currency remittance from the country.
- February 9 2023
Aon names Stephen Rudman as Asia head of marine
Rudman, who joins from Gallagher, will be based in Singapore and reports to Paul Young, head of commercial risk solutions for Asia.
- January 27 2023
Japan’s carriers support marine war market as deadline looms
(Re)insurers could see a potential US$1bn loss in February for policies connected to stranded ships.
- January 10 2023
Capital squeeze takes the wind out of Asia marine renewals
War and sanctions have impacted January 1 placements, but far less than the capacity crunch.
- December 30 2022
Japan’s big three to offer US$60m in Russia-Ukraine marine war cover: report
Total underwriting capacity halved to US$226m despite an additional US$165.8m cover from overseas reinsurers.
- December 29 2022
P&I insurers to quit war risk cover for Russia and Ukraine from January 1
Exit by reinsurers due to huge losses and lack of retrocession is forcing P&I clubs that cover 90% of ships to stop offering war risks.
- December 28 2022
Japan’s big three told to continue marine cover in Russia: report
Insurers' plans to exit the business announced last week could affect the country's energy imports of Sakhalin-2 liquefied natural gas, which accounts for 9% of its imports.
- December 24 2022
QBE Asia P&I rebrands to British Marine
The P&I office in Singapore will be rebranded from January 1, 2023.
- December 2 2022
West of England names new head underwriters in Singapore and HK
Senior underwriters David Griffiths will take charge in the Lion City and Xuanlun Cai in the SAR.
- December 1 2022
Howden assumes full ownership of Australian subsidiary AlphaXO
The Sydney-based marine specialist, earlier known as FP Marine Risks, has been part of the global broking group since 2007.