Tough Times Loom for Offshore Energy Insurance -IUMI
Speaking at this yearâs IUMI conference in Berlin, Simon Williams, Chairman of IUMIâs offshore energy committee reported continuous growth in the sector with 2015 capacity reaching around $7 billion, though he cautioned that $5.5 billion was more realistic. Williams explained that the first six months of 2015 had already recorded the largest number of losses since 2011 and that this could well impact significantly on 2014 profits. âOur sector has already racked-up more than $2 billion in a series of losses, including incidents in Mexico, the Falklands and Brazil. 2014 underwriting year still has a way to go,â he said. The rapid drop in oil prices was fueling market pessimismâŚ
North P&I CLUB Hosts Sanctions, Drugs & Guns Seminar
Over 100 representatives from the German shipping community attended a seminar entitled âSanctions, Drugs and Gunsâ in Hamburg, Germany last week (15 September 2011), which was hosted by the âAâ rated 150 million GT North P&I club. Simon Williams, Northâs associate director and joint regional head for Germany, told delegates that pirate attacks, political sanctions and drug trafficking were becoming critical issues for the global shipping industry and its insurers. âIt is thus vital that we debate these issues as fully and openly as possible in the search for practical solutions,â he said. The event at Le Royal Méridien hotel in Hamburg focused specifically on dealing with political sanctionsâŚ
North P&I Club Promotes 19 Employees
North P&I Club recently executed a round of staff promotions across it various operating departments that take effect tomorrow. Joint managing director Paul Jennings says, "We congratulate all 19 staff members on their excellent and well-deserved achievements. The most prestigious promotion is for Alan Lo, who becomes a director of clubâs wholly owned management company, North Insurance Management Limited (NIML). Lo has managed Northâs Hong Kong office since 1997 and became general manager Asia-Pacific when the clubâs Singapore office opened in 2007.
North of England Makes Appointments
North of England P&I Association appointed two new members to its management team led by managing director Rodney Eccleston. Senior claims executive Iain Beange and underwriter Stephen Rebair have both been promoted to managers of the 'A' rated 65 million GT club's wholly owned management company, North Insurance Management Limited. Beange, 45, joined North of England in 1995 after 16 years at sea, predominantly on dry bulk tonnage, followed by two years with London maritime law firm Clyde and Co. He holds a British Master Mariners' Certificate and an LLB Honors degree from the University of Northumbria. From 2000 to 2004 Beange worked in the Association's Hong Kong office, working closely with the growing Far East membership.
