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Tuesday, April 23, 2019

Insurance Industries News

Richard Turner. Photo: IUMI

IUMI Appoints Richard Turner as President

Richard Turner, European Director of Global Risk Solutions at RSA Insurance Group has been elected President of the International Union of Marine Insurance (IUMI).In accordance with the Articles of Association, IUMI’s Council formally elected Richard at their annual meeting which was held today, the final day of the IUMI annual conference in Cape Town. Richard, who has been closely associated with the global marine insurance market for 35 years, will serve a four-year term as…

LNG Schneeweisschen' Photo: ©Luksa Karaman, Marinetraffic.com

Braemar Shipping Services Adds New LNGC 'LNG Schneeweisschen'

Braemar Shipping Services announced the successful delivery of the 180,000m3 Liquid Natural Gas Carrier (LNGC) called “LNG Schneeweisschen” from Daewoo Shipbuilding & Marine Engineering (DSME), South Korea, as part of the ongoing LNGC newbuilding project between Uniper Global Commodities SE (Uniper) and Braemar.The international provider of broking, financial, consultancy, technical and logistics services to the shipping, marine, energy, offshore and insurance industries said that the vessel has been built for Japan based owners…

Graeme Alexander (Photo: Pirie & Smith)

Pirie & Smith Names Alexander GM

Marine consultancy and ship surveyor Pirie & Smith has appointed Graeme Alexander as General Manager to head up the company and take responsibility for leading its activities across the globe.The appointment is in response to a 12-month period of international expansion for the Aberdeen-headquartered firm, which has seen it establish representative agencies in Thailand, India, Singapore, Dubai and Europe to provide a global network for local and international clients in the offshore, marine, fishing, renewables and insurance industries.

Concirrus, EY to Drive Change in Marine Insurance Underwriting

Insurtech Concirrus and EY announced a new agreement to accelerate the adoption of behavioral-based underwriting and risk management in marine insurance. Concirrus has created market leading artificial intelligence (AI) powered marine insurance software, and is collaborating with EY, a global leader in specialty insurance consulting, to support the evolution of one of the oldest and most traditional insurance industries. Working together will help marine insurers move from older demographic based underwriting models…

Photo: Braemar Shipping Services

Braemar Acquires NAVES

Braemar Shipping Services plc  announced the conditional acquisition of the entire issued share capital of NAVES Corporate Finance GmbH. Braemar is a leading international provider of broking, consultancy, technical and other services to the shipping, marine, energy, offshore and insurance industries. NAVES is a corporate finance advisory business focused on the maritime industry to create a new division within Braemar to be known as the Financial Division. The consideration payable…

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Braemar Adjusting agrees Strategic Partnership in S. America

Braemar Adjusting has agreed a strategic partnership with Beckett Liquidadores de Seguros S.A of Chile, to act as its local resource partner in a number of countries in South America. Braemar Adjusting provides Loss Adjusting, Risk Assessment, Legal/Expert Witness and Dispute Resolution services to the Energy, Marine, Mining and Construction insurance industries, through its strategically-located global network of offices. As a result of the arrangement, Beckett Liquidadores de Seguros S.A.

Pic: Braemar Shipping Services

Braemar Shipping Exists ICON JV

Braemar Shipping Services PLC on has terminated its involvement in the ACM ICON Shipping DMCC venture, announcing the sale of its 50% stake to its joint-venture partner Icon Chartering Ltd, says a report by Alliance News. Braemar  said it has determined the venture is no longer part of its overall strategy. Braemar Shipping Services PLC merged with ACM Shipping Group in July 2014. Prior to that, ACM had a joint venture operating from Dubai called ACM ICON Shipping DMCC, which until now was 50% owned by ACM Shipbroking, formerly ACM Shipping Group, and 50% owned by Icon Chartering.

IUMI’s Ocean Hull Committee Chairman, Mark Edmondson

Risk Profile of Hull Market Improving - IUMI

IUMI – the International Union of Marine Insurance – at its annual conference in Berlin yesterday announced that global hull premiums for 2014 totalled USD 7.6bn, a 5.8% reduction from 2013. IUMI’s Ocean Hull Committee Chairman, Mark Edmondson, commented, “Overcapacity and a flatter cycle are the new normal. Hull underwriters are facing extremely challenging market conditions driven by chronic over capacity. Rates are highly competitive and to achieve an acceptable profit insurers require a sensible and well-conceived mix of business; a thorough knowledge of risk and increasingly good fortune.

‘Mission RASI – team

RASI Endurance Challenge 2015

A group of 40 enthusiasts from the maritime and insurance community in Singapore have come together, to undertake a 24 hour endurance sea challenge, all in aid of the global maritime welfare charity, The Mission to Seafarers. Mission Row Around Singapore Island (RASI), will see two teams in ocean-going rowing boats attempt the 140km journey, taking on the seas and shipping lanes (not to mention two live military firing ranges) to complete a non-stop circumnavigation of the island of Singapore.

John Poulson: Photo credit AMA

Atlantic Marine Sets Up Marine Survey & Consultancy Arm

Atlantic Marine Associates Inc. (AMA) a member of the Eagle Ocean Group appoints John S. Poulson to head the new service. Trading as AMA Consulting Services, the new entity is led by John S. Poulson, latterly president of GL Noble Denton, New York, and a leading expert in the marine engineering, survey, loss prevention and consultancy fields. AMA Consulting Services’ principal activity is carrying out independent surveys, investigations, advisory and other consultancy work for a broad maritime clientele…

Captain Dennis Brand

Brand to Rejoin TITAN Salvage

Captain Dennis Brand will rejoin TITAN Salvage, Crowley Maritime Corporation’s Pompano, Fla.-based, marine salvage and wreck removal company, as director of global commercial operations, reporting to company Managing Director Rich Habib on January 2, 2013. As a member of the company’s senior management team, Captain Brand will help shape strategic, operational and commercial business initiatives particularly as they relate to emergency response, securing salvage and wreck removal work for TITAN around the world.

Göran Skuncke

DNK Appoints New Insurance Director

War risk insurance specialist, DNK, is pleased to announce the appointment of Göran Skuncke as Insurance Director. Skuncke will be responsible for the Association’s insurance activities, with a particular responsibility for membership service, in addition to running DNK’s underwriting and claims activities. Skuncke joins DNK from the P&I Club, Skuld. During his career at the company, he provided hands-on experience and insight into both underwriting and claims work, while contributing to the professional reputation of the company.