Investments led to wider operating deficit, but Fitch maintained rating due to reduction in underwriting deficit, strong capital, and continued support from its parent company.
Japan P&I retains its 'BBB' financial strength and long-term issuer credit ratings from S&P Global Ratings, however potential losses from last week's Fremantle Highway vessel were not mentioned...
The Fremantle Highway roll-on roll-off vehicle carrier experienced a devastating fire off the Dutch coast while transporting 2,857 vehicles, including electric vehicles - leading to the death of at least...
Fires involving Li-ion batteries are more dangerous and can lead to huge losses - and the insurance and shipping sectors are grappling how to deal with the issue.
Reuters reports that insurers are looking to increase premiums or revoke coverage for ships sailing to Ukraine following Russia's disengagement from a U.N.-supported grain trade agreement.
Specialty (re)insurance coverage, involving 13 underwriters, has enabled a salvage operation for The FSO Safer which holds 1.14 million barrels of light crude and has been deteriorating since 2015.
