The Managers are pleased to provide advance notice of the succession arrangements that are intended (subject to the necessary regulatory approvals) following the planned retirements of three senior members of the management team with effect from 20 February 2023.

The Poseidon Principles for Marine Insurance establish a common global framework for aligning marine insurance portfolios with society’s goals. Through their actionable methodology, the Principles enable insurers to quantitatively assess the carbon footprint of their underwriting portfolios and track progress against targets. Signatory insurers commit to publicly disclosing their climate alignment scores, thus promoting accountability and incentivizing the maritime industry’s transition to a more sustainable future.
 

Thomas Miller Insurance Germany (TMIG) has entered into an agreement to sell its German-based claims recovery business of ZASS International GmbH to BARBUSS. BARBUSS is a global team operating in 14 countries that improves results for clients in the (re)insurance and international trade industries, focusing on effective management of claims recoveries. The acquisition of ZASS` business bolsters its strong presence in Germany and will help expand its operations in European insurance claims recovery. The sale will not have any effect on existing operations in the region for Thomas Miller. Hamburg remains a key focal point of Thomas Miller’s strategic operations in Europe.

Redkik, a global software company with the mission to simplify and improve the cargo insurance industry with technology, today announced a strategic partnership with Howden Insurance Brokers AB, a leading provider of insurance brokerage and risk consulting. The partnership aims to transform insurance provision for the logistics and transportation industry with a quick, straightforward and compliant digital solution.

Ukraine, a major producer of grain, oilseeds and steel products, will guarantee insurance payments to cargo vessels damaged in hostilities on its stretch of the Danube, according to the government decision published on Friday.

Following a challenging year across the industry, The Swedish Club reported strong renewals for 2022, in line with targets and achieving a volume growth (year on year) of 5% for P&I and 18% for H&M.

Members are advised that the US Coast Guard has recently reported another fire in a misdeclared container of scrapped lithium-ion batteries. On 4 March 2022, LA / Long Beach Coast Guard received a report of a shipping container on fire at the San Pedro Bay port complex at LA/Long Beach. The box was due to be loaded on a vessel sailing for China and was waiting on the quay. After a grueling fire-fighting operation which involved 40 fire firefighters from the LA fire department it was noted that the container was misdeclared and whilst the bills of lading indicated that the container was carrying ‘synthetic resins’ a non-hazardous material, the container in reality held used lithium-ion batteries, which are hazardous materials with a high propensity for fire.

After 27 years’ service as Chief Executive Officer of Shipowners Claims Bureau, Inc. (SCB), the Managers of the American P&I Club, Joe Hughes will stand down from that role on August 1, 2022. Dorothea Ioannou, currently Deputy Chief Operating Officer of SCB, will succeed Mr. Hughes as CEO from that date, making history as the first woman to ascend to the top executive position of an International Group P&I club in the 167 year history of the marine mutuals.

Combination would establish a global marine insurer positioned to thrive in the face of current and emerging challenges and opportunities posed by digitalisation, recruitment, regulation and sustainability.

London’s marine insurance market has widened the area of waters around the Black Sea and Sea of Azov that it deems high risk as Russia’s invasion of Ukraine intensifies and perils to merchant shipping grow.