Latitude Brokers Ltd., previously the Marine Division of Cooper Gay Asia, has been launched as a separate entity. The change follows the receipt of regulatory approval in July 2014 by the Hong Kong Confederation of Insurance Brokers.
The newly incorporated and independently branded company is now conducting business in the Asia Pacific region. It remains, however, a part of Cooper Gay Swett & Crawford (CGSC), joining Hamburg and Antwerp based Junge & Co, as part of the Group’s dedicated specialist Marine practice.
Vanessa Toucas, one of the four founding partners of the company, commented: “We are all very excited about Latitude. We have put together a strong team and it’s a team that cares passionately about the marine sector, the Asian market and, above all, about our clients. With the backing of CGSC we have access to a global network which supports our dedication to offering our clients comprehensive, competitive risk solutions and services. It’s great to finally be underway.”
The bulletin noted that Toucas, Charles D’Alton, Andrew Booker and Tom Fulford-Smith, “formed Latitude with the backing of Cooper Gay Asia in March this year. The company will work with clients across the marine and offshore sectors, including vessel operators, commodity traders and offshore contractors and the myriad of specialists that form the global supply chain industry.”
D’Alton commented: “We all come to Latitude with different backgrounds and experiences from within the marine and offshore industries. It’s a great opportunity to provide our clients with a fresh perspective that may not always lead to the traditional solution.
“With the P&I market preparing to announce their General Increases for 2015 and IUMI meeting in September in Hong Kong amid the continued downward pressure on freight rates and therefore operating costs, we are looking forward to seeing how the marine insurance market will be responding to the needs of their Asia Pacific client base.”
Source: Cooper Gay Swett & Crawford (CGSC)
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