The captain and first officer of a dry bulk carrier, which triggered the biggest environmental disaster in Mauritius, have been sentenced to 20 months in prison in the Indian Ocean island nation. Sunil Kumar Nandeshwar, the captain, and Subodha Tilakaratna, …
Africa Specialty Risks (ASR), a reinsurance managing general agent focused on the African corporate and specialty market, announced it has launched a fully capitalized and licensed reinsurer based in Mauritius. Alongside the reinsurer license, ASR has also been granted a …
TOKYO — Japan’s Nagashiki Shipping said on Friday [Dec. 18] the grounding of one of its large bulk carriers that caused an ecological disaster in Mauritius was due to a lack of safety awareness and a failure to follow rules …
A Japanese bulk carrier that ran aground on a reef in Mauritius last month threatening a marine ecological disaster around the Indian Ocean island has broken apart, authorities said on Saturday. The condition of the MV Wakashio was worsening early …
A Japanese bulk carrier struck a coral reef off the Indian Ocean island nation of Mauritius on July 25, spilling about 1,000 tonnes of fuel oil and triggering a state of “environmental emergency.” Scientists say the spill is the country’s …
Mauritius is seeking compensation from the owners of the cargo carrier that run aground and spilled oil off its coast, causing the island nation’s worst ever ecological disaster. More than half of about 1,000 tons of fuel that leaked from …
The oil cleanup from a leaking cargo ship that ran aground off the coast of Mauritius continues while the government and insurance firms begin probing liability for the accident. The incident has befouled the white-sand beaches of the Mauritian coast …
A.M. Best Co. has downgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘A-‘ (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of The Fuji Fire & Marine Insurance Company, Limited. Best has also placed the …
Standard & Poor’s Ratings Services announced that it has assigned its “BBB” long-term counterparty credit and insurer financial strength ratings to Munich Mauritius Reinsurance Co. Ltd. (Munich Re Mauritius) with a stable outlook. “Munich Re Mauritius is a Mauritius-based composite …
Willis Group Holdings has agreed to acquire the business and assets of Reinsurance Consultants and Intermediaries Ltd. (RCI), the reinsurance division of South African insurance broker Glenrand M.I.B. Limited (JSE:GMIB). As part of the transaction, Willis will also acquire GMIB’s …
