Standard Club and North held special general meetings today in Rome and Athens, respectively, at which members of both clubs voted ‘resoundingly’ in favour of merging
‘A lot of people have said we have shrunk, but it depends on what measure you are looking at,’ says chief executive
The outlook for the protection and indemnity insurance sector remains challenging on account of record pool claims, ongoing pandemic, surging inflation and rate erosion, insurer warns
Whether a slimmed-down IG would meet the textbook definition of oligopoly is a matter of taste, but six entities with 90% of a market between them is never a good look
Reduced volatility will mean more stable technical results and thus more competitive pricing if deal goes ahead, says Marsh
Current premium levels put world’s biggest marine mutual in ‘good place’ on pricing, but pool claims, inflation and Ukraine will generate pressure at next renewal round
‘Strong results from fixed price P&I and our marine and energy book meant that overall, the group could return a robust profit,’ says chief executive
Progress reflects increased focus on safety measures over time, through training and safety programmes, improved ship design, technology and regulation
More fires, increased incidence of general average, use of tanker and bulkers to carry boxes and owner decision to extend working lives of vessels all highlighted in annual safety study from leading underwriter
‘Behind us lies another extraordinary year. The Covid-19 crisis has had many consequences for the insurance sector and ocean industries,’ laments chief executive Ståle Hanson
Greece, Malta and Cyprus are all understood to have lobbied against a shipping ban proposed in the initial draft of the EU’s sixth round of sanctions. Negotiators argue that the final sanctions should be watertight so that non-EU states do not benefit
While Greece, Cyprus and Malta seek to have EU sanctions on the lifting of Russian crude watered down, European solidarity with Ukraine is more important than making money from shipping
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