March 21, 2022
State-owned Bangladesh Shipping Corp. is seeking $22.4 million from its insurer for a cargo ship hit by a missile in March, government officials with knowledge of the talks said, in the first major marine insurance claim from the conflict in …
May 6, 2021
CAIRO – An Egyptian court on Tuesday ruled that the container ship which blocked the Suez Canal in March could continue to be held in the waterway, rejecting an appeal by its Japanese owner against its detention, a judicial source …
April 8, 2021
LONDON — Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic in the Suez Canal, industry sources said, with payouts expected to run into hundreds of millions of dollars. International supply …
March 30, 2021
The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at least $24 million in expenses they will be unable to recoup as their insurance policies do not cover them, industry …
June 17, 2020
Astaara, a marine insurance services business, announced it has secured a significant investment from UK marine insurer West of England P&I Club. Astaara is a new company, focused on risk management and loss prevention, which has developed a marine cyber …
August 6, 2019
Reports alleging that fuel tankers appeared to breach U.S. sanctions against Iran were cited in court filings by a bank as it sought to seize the ships, accusing the owners of loan default. The accusations, which led to the the …
February 13, 2019
Lodestar Marine, the London-based managing general underwriter, announced an agreement with Aspen Insurance to provide protection & indemnity insurance (P&I) to the owners and managers of small and specialized ships. London-based Lodestar provides $50 million of Aspen-backed P&I cover, with …
December 27, 2018
Singapore-based EF Marine announced a managing general agent (MGA) agreement with Swiss Re Corporate Solutions, effective Jan. 1, 2019. The alliance between Swiss Re Corporate Solutions and EF Marine will support small and medium-sized shipowners, charterers and multimodal operators globally …
February 14, 2018
While the balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, underwriting discipline will be tested over the February 2018 renewal period, according to a report by A.M. Best. Intense competition, exacerbated by …
February 13, 2018
Ryan Specialty Group LLC (RSG) announced it has reached a definitive agreement to acquire London-based Lodestar Marine Ltd., an MGA in the protection & indemnity (P&I) fixed premium marine market, from Tawa Associates Ltd.* Lodestar’s operations will become part of …