Bangladesh Files $22.4M Insurance Claim After Missile Hits Ship in Ukraine March 21, 2022 By Ruma Paul and Jonathan Saul State-owned Bangladesh Shipping Corp. is seeking $22.4 million from its insurer for a cargo ship hit by a missile in...
Insurer Disappointed After Egyptian Court Upholds Detention of Tanker Ever Given May 6, 2021 By Yusri Mohamed CAIRO – An Egyptian court on Tuesday ruled that the container ship which blocked the Suez Canal in March could...
Reinsurers Will Bear Most of Costs of Container-Ship Grounding in Suez Canal April 8, 2021 By Jonathan Saul and Carolyn Cohn LONDON — Reinsurers are set to foot most of the bill for the grounding of the ship that halted traffic...
Insurance Unlikely to Cover All Shipowners’ Expenses Incurred in Suez Closure Chaos March 30, 2021 By Jonathan Saul and Carolyn Cohn The owners and charterers of ships unable to sail through the the Suez Canal for nearly a week face at...
New Marine Cyber Specialist Astaara Gets Investment from West of England P&I Club June 17, 2020 Astaara, a marine insurance services business, announced it has secured a significant investment from UK marine insurer West of England...
German Bank Seeks to Seize Ships for Breach of Iran Sanctions August 6, 2019 By Saket Sundria, Serene Cheong and Dan Murtaugh Reports alleging that fuel tankers appeared to breach U.S. sanctions against Iran were cited in court filings by a bank...
MGU Lodestar Marine and Aspen Insurance Form Agreement to Provide P&I Cover February 13, 2019 Lodestar Marine, the London-based managing general underwriter, announced an agreement with Aspen Insurance to provide protection & indemnity insurance (P&I)...
Singapore’s EF Marine Forms Capacity Deal with Swiss Re Corporate to Offer Fixed Premium P&I Cover December 27, 2018 Singapore-based EF Marine announced a managing general agent (MGA) agreement with Swiss Re Corporate Solutions, effective Jan. 1, 2019. The...
Marine P&I Clubs Face Intense Pricing Pressures in February Renewals: A.M. Best February 14, 2018 While the balance sheets of clubs operating in the marine protection and indemnity (P&I) sector are generally strong, underwriting discipline...
Ryan Specialty Group Agrees to Buy UK P&I MGA Lodestar Marine from Tawa February 13, 2018 Ryan Specialty Group LLC (RSG) announced it has reached a definitive agreement to acquire London-based Lodestar Marine Ltd., an MGA...