Industry Segments: Marine Page 13 / 17
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- December 2 2021
Indonesia’s Tugu ‘dominates’ energy, aviation and marine: AM Best
The company has "high reinsurance usage" to support the underwriting of large commercial risks.
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- December 2 2021
GIC Re takes premium hit amid ‘bottom-line’ focus
The reinsurer tells IAN classes with higher claims are being avoided as health and marine business drops.
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- November 2 2021
Standard Club appoints HK-based commercial director
Ireland MD and former head of Asia Robert Drummond to lead commercial development in the region.
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- October 22 2021
P&I clubs facing pressure to increase fixed limits
Mutual protection and indemnity clubs such as London, Japan, UK, Standard and North are all facing rising costs.
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- October 12 2021
Plenty of capacity to meet record LNG prices
Insurance market can meet rising limits despite a price surge of almost 900% this year.
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- September 20 2021
Cosco Shipping’s captive to see steady premium growth: AM Best
The captive benefits from low distribution costs for group-related business and a favourable reinsurance environment.
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- August 24 2021
Korea P&I Club’s balance sheet improves but risks remain
Rating agency report says the association bounced back to profitability in 2020 after some "unprecedented" claims in 2019.
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- August 19 2021
Asia’s marine (re)insurers face ESG challenge
Retrofitting vessels to meet more stringent fuel standards creates new risk management challenges.
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- August 10 2021
Lloyd’s China eyes broker and product expansion
A new marine liability product is expected later this year.
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- August 5 2021
Bigger ships, more frequent and severe transit delays
As vessels increase in size and the maritime transport system grows more complex, the potential for value-destroying delays increases.
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- July 30 2021
Global supply chain woes to keep pressure on cargo premiums
Delays are becoming more costly but can’t be insured at affordable prices.
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- July 20 2021
Typhoons threaten agriculture in three China provinces
Ministry of Agriculture urges insurers to settle any claims promptly amid uncertainty over landfall.
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- July 15 2021
APAC marine, aviation, transit premiums to hit US$14.5bn by 2025
GlobalData report says several insurers have withdrawn from the market after "years of unsustainable losses".
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- July 14 2021
X-Press Pearl’s owners pay initial US$3.6m claim
Sri Lanka's government is looking for US$40m to compensate for environmental damage.
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- July 6 2021
Ever Given to set sail as parties agree claim payout
Payout set to be far less than the original demand of US$900m.
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- June 21 2021
Asia marine market braces for X-Press Pearl ‘total loss’
The focus is now on wreck removal and containing the environmental damage.
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- June 7 2021
Ever Given compensation being reassessed by Egypt authority
The Suez Canal Authority has revised its initial US$900m demand.
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- May 27 2021
X-Press Pearl fire to see ‘significant’ cargo, salvage claims
Insurers face claims in the tens of millions of US dollars.
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- May 14 2021
Thailand’s marine losses higher despite Asia trade slowdown
Overall losses for hull and cargo combined increased 10.3% in 2020.
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- May 11 2021
Q&A: Canopius’ Mark Newman on environmental risk and ILS
The APAC chief executive also discussed the impact of Covid-19 on the Lloyd’s market in Asia.
