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13 Sep 2017

You are Global Trade

Have you ever asked yourself if the marine industry plays a positive role in society? Or if doing your job makes a difference? Do you make a positive contribution? Are you proud of what you do? We work hard, and it is easy to lose sight of these questions. And yet we know from...
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22 Mar 2017

Trade Disruption exposure as NOC warns of possible force majeure declaration at two Libyan oil terminals

Libya’s National Oil Corporation (NOC) warned on Monday of a possible declaration of force majeure at the Es Sider and Ras Lanuf oil terminals, two of Libya’s largest oil ports. NOC board member Jadalla Alaokali said a legal waiver for contractual obligations would...
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10 Feb 2017

Edge Germany move to new offices

Edge Germany have moved to the centre of Hamburg. Our new address is: Amelungstraße 8-10, 20354 Hamburg, Germany   We look forward to welcoming you there!
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20 Jan 2017

WR Berkley to terminate Marine operations at Lloyds

Market sources suggest that WR Berkeley have decided to close down the Marine operations at their Lloyd’s syndicate with immediate effect. They will not be accepting any new or renewal business. Marine operations in Norway, focused on regional marine hull and cargo, are unaffected.
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03 Jan 2017

Stein Otto Hernes retires

Stein Otto Hernes has retired from his position as Executive Director and Senior Broker at Edge Norway. Stein Otto, who has also for many years been a shareholder in the company, joined Edge in 2004. He has previously been a shareholder and Director of Wergeland Insurance Brokers...
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30 Dec 2016

Harald Grepne joins Edge

We are very pleased to announce that Edge  in 2017 will have one of the Norwegian insurance market’s most knowledgeable claims experts on its team. Harald Grepne will be joining Edge Norway AS with effect from 1 January as a Senior Claims Advisor. Harald will be working out of...
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11 Nov 2016

Piracy events fall 25% to 1996 levels

IMD has released their Q3 report, which shows a significant decrease in piracy activity. There has only been 1 incident this far in 2016 in the Gulf of Aden/Somalia, and activity is now significantly in Indonesia, India and Nigeria. Insurance Marine News have published the...
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11 Nov 2016

Ferries And Cargo Ships Will Soon Be Autonomous Too

Imagine a huge freighter with not a living soul on board. These ghost ships are coming to an ocean near you. A few years ago the idea of a self-driving car seemed like science fiction. Then along came the Google car, Tesla’s autonomous vehicle, and several others, and now...
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21 Oct 2016

Britannia announce no General Increase for 2017

Britannia have followed Shipowners in announcing no general increase for 2017/2018. As announced in their press release: QUOTE Britannia waives a further USD11.5 million of deferred calls while requiring no general increase in advance calls for 2017/18 Chairman’s statement The...
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21 Oct 2016

Marine insurers warned to factor in ‘catastrophic’ losses as price war continues

In an interview with IHS Fairplay, John C. Wilkinson, yesterday gave a stark warning of the consequences of the ongoing price war in the marine markets. Wilkinson has been Munich Re’s Chief Executive for their Global Marine Partnership since 2014 and is therefore responsible for...
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04 Oct 2016

Shipowners announce no General Increase for 2017

As announced by Shipowners: For the third consecutive year, the Board has decided that no general increase will be applied to premiums for the 2017 policy year. The Club understands the challenging market conditions that Members are currently operating in and will continue to...
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23 Sep 2016

Cyber security threat worries marine insurers

IHS Fairplay has written below article on their recent Maritime Cyber-security Survey. In the words of one Lloyd’s underwriter the marine market is “in a mess” over the issue and is yet to deliver a coherent solution to the risks presented by cyber crime. Only 1.9% of the...
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21 Sep 2016

Global Marine Premiums dropped USD 3.5 billion in 2015

IUMI – the International Union of Marine Insurance – has issued a press release announcing that global marine underwriting premiums were down by 10.5% in 2015 and warns that continued uncertainty lies ahead: IUMI –– unveiling its annual statistical report on the marine...
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25 Aug 2016

New CEO for Alandia Insurance

Tony Karlström, group head of asset management at Ålandsbanken Abp, has been appointed as the new CEO of Försäkringsaktiebolaget Alandia and Försäkringsaktiebolaget Liv-Alandia. Karlström takes up the position on 1 November 2016. The present CEO Leif Nordlund will suppor...
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13 Aug 2016

Marine insurers urged to work with clients to mitigate cyber risk

The maritime industry has fallen behind when it comes to dealing with the cyber threat, the president of the International Union of Marine Insurance (IUMI), has told IHS Fairplay. Ships have in the past been regarded as single and isolated risks but now the industry is embarking...
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30 Jun 2016

New UK Insurance Act to change marine underwriting and claims handling process

The new UK Insurance Act comes into force on 17 August 2016. Marine insurers have been told the implementation of the new UK Insurance Act will require a change in their approach to claims handling. Speaking to the London markets Joint Marine Claims Committee Open Forum in...
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27 Jun 2016

S&P revises Alandia Group to Positive

On 20 June S&P issued following report: Aland-Based Insurance Group Alandia Outlook Revised To Positive On Likely Lower Investment Risk; Affirmed At ‘BBB+’ In our view, Alandia’s management and governance have improved to satisfactory, reflecting the...
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20 Jun 2016

UK Club and Britannia formally terminate their merger discussions

Since the announcement in February 2016, the Boards of the UKP&I and Britannia Clubs have held discussions regarding a potential merger of the two Clubs. While a number of potential synergies and benefits were recognised, no agreement could be reached on acceptable terms, and...
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17 Jun 2016

Ole Wikborg to head up the Norwegian Hull Club’s new London office

In announcement made yesterday by NHC’s CEO Hans Christian Seim it was advised Ole Wikborg had been appointed head of the Norwegian Hull Club’s new London office which is in process of being set up. Ole Wikborg has significant international experience as the President...
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14 Jun 2016

Alexander Graham signs up with Edge Norway (Oslo)

We are pleased to announce that Alexander Graham will be joining our Oslo office as from 15th August 2016. Alexander is 31 years old and lives in Oslo. He has a Master of Science in Business and Economics (Siviløkonom) degree from BI Norwegian Business School and has for the six...
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23 May 2016

Leviathan Facility acquired by Beazley

On 13 May Beazley announced it is acquiring subsea specialist The Leviathan Facility: “Beazley will acquire the majority of their existing book and renewal rights to the remainder: and their principal underwriters, Simon Edwards and Keith Broughton, will join Beazley’s...
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22 May 2016

Hans Christian Seim is appointed new CEO of the Norwegian Hull Club

The Board of Norwegian Hull Club (NHC) on Friday announced former COO Hans Christian Seim as the new Chief Executive Officer of Norwegian Hull Club with immediate effect. The appointment follows the surprise resignation of Faz Peermohamad on 29 April after only 4 months in the...
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22 May 2016

Skuld to acquire SMA/Gerling Norway

Skuld on Friday 20 May announced it has signed a letter of intent to purchase SMA/Gerling Norway. In a press release Skuld says; “The acquisition would give Skuld renewal rights on SMA/Gerling Norway’s hull & machinery book of business, which today covers 6,000 vessels...
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