Industry Segments: Marine Page 2 / 17
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- October 28 2024
Tokio Marine Kiln taps Starr’s Alexandros Ampatzis as head of marine, APAC
Ampatzis will primarily focus on deepening the carrier's presence in target markets across the region and continuing the team’s rapid growth, reporting to TMK’s regional underwriting director Jamie Tang.
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- October 28 2024
NZ’s Maritime Mutual clarifies its coverage of dark-fleet tanker involved in fire ceases on violation of sanctions
The Lloyd's backed P&I club that is believed to be the insurer to tanker that caught fire off Malaysian coast in July, said in a statement said that no payment is made to any party to a claim it would breach international sanctions.
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- October 25 2024
Dali owner, operator reach US$100m settlement over Baltimore bridge collapse
Singapore-based Grace Ocean and Synergy Marine, the owner and operator of the cargo ship that struck the Francis Scott Key Bridge in the US earlier this year, have agreed to pay the amount to the US federal government.
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- October 24 2024
Rare Earth launches wholesale insurance broker in mainland China
To be led by Wang Wei and Mark Gu, the +8 Partners company will also bring overseas insurance business into China, which will be traded in the Shanghai International Reinsurance Centre.
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- October 22 2024
Geopolitics, container fires, energy transition shaping marine insurance dynamics: IUMI’s Lars Lange
With the shipping business very clearly shifting to Asia, the industry group is looking to grow its presence in the region.
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- October 16 2024
Hong Kong to foster marine insurance amid effort to consolidate global risk management centre status
The SAR government will encourage leading marine insurers to establish presence in the city and develop marine insurance talents, chief executive John Lee says in policy address.
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- October 14 2024
India likely to provide initial funding to set up P&I entity: report
An inter-ministerial consultation process was initiated this year to create the marine insurance entity, with participation from the industry.
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- October 11 2024
Samsung Fire’s stable underwriting, low COR to help maintain market leadership: AM Best
The rating agency has affirmed the insurer's financial strength rating of A++ (superior).
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- October 9 2024
Markel expands India team with three underwriters in Mumbai
Srabasti Dhali has joined from Tata AIG as senior underwriter, specie; Aniket Mehta has been named marine cargo senior underwriter, while Ankur Saxena started as casualty underwriter.
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- October 1 2024
MGA incubator Rhodian takes Allianz team to launch marine specialist in Australia
The MGA Marinex Underwriting is backed by Canopius and will offer cargo, carriers, commercial hull and marine liability products.
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- September 27 2024
New routes create new risks for insurers as Red Sea remains US$3tn threat
As longer transit time, delays, increased emissions and piracy threats plague attempts to circumvent the region, it could be transformational for the Belt and Road initiative as cargo moves to rail and air.
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- September 26 2024
West P&I promotes Cai Xuanlun to CEO for Hong Kong office
Cai replaces Robert Macnamara, who was the chief executive for the IG P&I Club in the city for 28 years, and will start in the role in December this year.
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- September 25 2024
WTW appoints Sao Mai Nguyen as associate director for cargo, Asia
Nguyen will join the regional Asia cargo team within WTW's global marine business, according to an announcement by Oliver Scarr, head of cargo for Asia.
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- September 24 2024
Climate change, green transition and geopolitics reshaping marine insurance
The growing importance of Asia underlined the 150th annual International Union of Marine Insurance conference where geopolitical tensions, extreme weather risks, and energy transition dominated discussions.
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- September 23 2024
Starr’s Rachel Miao joins Aon as Asia director, marine, cargo & logistics
For her new role, Miao, who was most recently head of marine for China at Starr Insurance, will relocate to Hong Kong from Shanghai.
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- September 19 2024
Global marine insurers bet on Asia amid growing geopolitical concerns
The International Union of Marine Insurance sees the region accounting for almost a third of the premium as an opportunity to grow its membership as war risks, sanctions and embargoes are affecting global shipping.
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- September 18 2024
Russian insurers provide cover for 60% of Moscow’s oil exports to India: report
Signals a growing role by Russian carriers such as Ingosstrakh to facilitate oil shipments to India, its biggest buyer, despite western sanctions.
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- September 18 2024
Crawford launches dedicated logistics, transportation & freight division in Singapore
The service will address complex claims arising from the logistics and freight sector, requiring adjusters familiar with marine and transportation industries.
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- September 18 2024
Analytics: APAC 2023 marine premiums up 7.5% as global trade recovery drives cargo insurance growth
While the upswing in trade is expected to help premium growth and and the overall claims impact remained stable, uncertainty posed by geopolitical tensions and regional economic outlook could impact the sector.
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- September 13 2024
Opinion: Taiwan specialty market on edge as US presidential election rolls closer
Following the the recent presidential election debate and the sparring over regional policy, attention is once again focused on the island nation due to the potential risk of disruption posed to its semiconductor sector and supply chains.
