Barbican Group Holdings Limited (Barbican) announced that it has acquired Seacurus Ltd (Seacurus), a U.K.-based specialist marine insurance broker.
Established in 2004, Seacurus focuses specifically on revenue protection in the marine insurance market. A provider of marine kidnap and ransom insurance, the company offers a range of products designed to help companies in the shipping industry manage a wide variety of operating and financial risks.
Seacurus will continue to operate under its current brand. Details of the transaction have not been disclosed.
In April 2013 Seacurus launched CrewSEACURE, an insurance product for employers of seafarers required to meet regulatory obligations under the Maritime Labor Convention 2006 and the International Guidelines on Seafarer Abandonment. The product offers cover in the event of an employer’s financial default, and includes the indemnification of unpaid wages.