Marine & Cargo

chinese-ships-secure-lower-insurance-rates-in-red-sea-amid-houthi-attacks-report

Chinese vessels gain access to reduced Red Sea rates amid Houthi strikes - report

February 8 2024

Chinese ships are benefiting from lower rates amid targeted Houthi attacks on Western vessels.

NorthStandard to open South Korea office in 2024

January 23 2024

The marine insurer will open a Seoul branch in spring, with Claims Director Shang Doe Shim set to move from Singapore to lead the office.

singapore-cargo-underwriting-set-to-go-way-of-hull-as-insurers-prepare-to-withdraw-red-sea-war-risk

Singapore cargo underwriters prepare to cancel Red Sea war risk cover

January 16 2024

Cargo carriers' wait-and-see approach has been pushed to the limit and are poised to go the way of hull insurers by issuing cancellation notices.

hong-kong-ia-opens-public-consultation-on-four-draft-rules-related-to-upcoming-rbc-regime

Hong Kong IA opens public consultation on draft rules related to upcoming RBC regime

January 11 2024

The IA seeks industry feedback on draft rules affecting general, marine, captives, and Lloyd's market insurers.

Officials say India is moving closer to setting up its own maritime P&I club

January 8 2024

Potential of Indian P&I club continues to gain traction as the nation aims to grow and protect its shipping industry.

MGA Ai Marine Risk launches with B.P. Marsh backing

January 8 2024

Founded by marine insurance experts Tom Fulford-Smith and Charles D'Alton, the MGA aims to build a global portfolio with a focus on the UK, Europe, APAC, and the Middle East.

China encourages foreign maritime insurers to enter domestic market

December 15 2023

China sets its sights on enhancing its marine insurance sector by 2035, aiming to rival established centres like London and Singapore, while bolstering shipping finance and legal services.

ICNZ: 87% of Cyclone Gabrielle and Auckland Anniversary flood claims settled

December 12 2023

To date 99,798 of 115,353 and NZ$2.7bn (US$1.65bn) of NZ$3.6bn have been settled.

Azure Risk announces appointment of Mai Nguyen as Senior Manager, Marine Broker

December 5 2023

Nguyen joins from Aon where she was associate director.

shipping-industrys-move-to-net-zero-raises-complex-insurance-questions

Insurance questions loom as shipping sails toward net-zero

December 5 2023

Efforts to decarbonise are creating new risks and legal uncertainties.

mas-chief-vows-singapores-climate-initiatives-will-punch-above-carbon-emissions

MAS Chief vows Singapore's climate initiatives will punch above emission's weight

December 4 2023

Ravi Menon's launched Singapore Pavilion at COP28 outlining strategies to 'galvanise' climate action and providing insight into potential risks and opportunities for insurers.

Gallagher launches brokerage in Taiwan

December 1 2023

Taipei Office will be spearheaded by Taiwan CEO, Brian Wang, who joined Gallagher in 2022 to oversee the market launch.

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