Marine
Ince & Co opens office in Beijing
Ince & Co expands Greater China capability with new office in Beijing.
Lancashire reports hike in profit to $102.6m
Lancashire has reported a 35.5% increase in gross written premium to $514.8m in the first half of the year, compared with $379.8m in the same period in 2011, reporting growth across three of its four main classes of business.
Talanx subsidiary HDI-Gerling Industrie opens in Bahrain
Talanx subsidiary HDI-Gerling Industrie Versicherung AG is opening a branch in Bahrain.
Iranian crude finds Asian buyers despite insurance sanctions
Iran is still shipping oil to China, and Japan looks likely to resume imports in August, as Iran continues to circumvent Western sanctions on ship insurance, Reuters reported.
Beazley offers single piracy and war product
Beazley is offering owners of ships sailing in troubled waters the option to buy one policy covering war risks and piracy.
Helvetia bidding for Groupama's French marine portfolio
Swiss Insurance Group Helvetia Group has confirmed it has entered into exclusive negotiations with Groupama to acquire its French marine insurance portfolio.
Willis creates new marine division in Singapore
Broker Willis has extended its risk management consultancy operations in Asia with the formation of a marine technical services division in Singapore, and has recruited Sau Weng Tang to spearhead the expansion.
South Korea halts Iranian crude imports over sanctions
South Korea will stop importing Iranian oil from 1 July owing to the European Union's insurance ban on vessels carrying the product.
Indian ships allowed to import Iranian crude on CIF basis
India is likely to join Japan in circumventing insurance sanctions to continue importing Iranian crude oil.
Mutual insurer Standard Club exposes Russian weapons consignment
The Standard Club has helped to uncover a ship reportedly carrying refurbished attack helicopters from Russia to Syria.
Iranian firms ready to fill oil cover void, says regulator
Iranian insurance companies are ready to offer cover to allow foreign tankers to continue shipping oil after a European Union ban comes into effect next month, the semi-official Fars news agency reported on Tuesday.
Oil markets blasé as sanctions force Iran's Asian buyers to cease imports
Iran's Asian oil buyers look set to halt imports when EU sanctions come in on 1 July, with potential repercussions for the global oil market.
EU stands firm on Iran shipping sanctions
The European Union has no intention of delaying the implementation of sanctions against ships carrying Iranian oil, and Europe could cope with any extra loss of Iranian crude exports stemming from these measures, EU Energy Commissioner Gunther Oettinger…
Indian shippers to stop handling Iranian oil if government can't agree cover
Indian state-owned refiners look set to halt oil imports of 173 000 barrels a day from Iran, unless the government permits them to use insurance and freight arranged by Tehran.
Japan approves insurance for tankers carring Iranian oil
Japan's cabinet has approved a bill to provide sovereign insurance to tanker operators that import Iranian oil before European Union sanctions come into force.
S&P upgrades Skuld to 'A' with 'stable' outlook
Maritime insurer Skuld has had its Standard & Poor's rating upgraded to 'A' with 'stable' outlook, based on strong underwriting and capitalisation.
Japan to allow sovereign guarantees for tankers
Japan's cabinet plans to approve a bill giving sovereign guarantees for the nation’s oil tankers, circumventing sanctions aimed at stalling Iran's nuclear programme, according to Bloomberg.
RSA targets 'consistency' across global network with GSL restructure
RSA's reorganisation of global speciality lines aims to bring consistency across the group's global network, according to Paul Donaldson, director of global broker relationships and sales.
Chaucer set to launch new marine package
Chaucer Syndicate 1084 has launched a new marine package underwritten by Coastal Marine Services, a UK marine insurance underwriting agency.
RSA reorganises speciality business
RSA has consolidated its global speciality business in a bid to link brokers and customers seeking global expertise and capacity.
RSA puts specialty into three divisions
RSA has reorganised its speciality businesses around the world into three key divisions to join up brokers and customers seeking global expertise and capacity.
Hardy gets tough on property treaty with 19.1% rate rises
Hardy Underwriting has reported that gross written premiums for its syndicate have decreased by 21.5% year on year, primarily as a result of discontinuing certain underperforming lines of business and a reduction in catastrophe risk appetite.
Marine: A stormy start to 2012 and choppy waters ahead
With the Costa Concordia disaster in January, the marine market has had a tough start to the year. What impact has this had on the state of play in an already difficult sector?
EU considering impact on trade of Iranian oil insurance ban
Britain and France are studying a proposed European Union ban on insuring tankers carrying Iranian oil to see how severe an impact it would have on trade with non-EU countries, Reuters reported.