EF Marine announces strategic alliance with Swiss Re Corporate Solutions to offer Fixed Premium Protection and Indemnity (P&I) insurance to cover increasingly complex marine risks.
- EF Marine (EFM) teams up with Swiss Re Corporate Solutions to further penetrate the Fixed Premium Protection & Indemnity (P&I) sector.
- This agreement will support small to medium size companies active in the marine logistics chain by offering tailor-made solutions to manage increasingly complex marine risks.
- The alliance offers Ship Owners, Charterers and MultiModal operators access to a wide range of insurance products and outstanding service, backed by Swiss Re’s brand and financial strength.
EF Marine is pleased to announce a Managing General Agent (MGA) agreement with Swiss Re Corporate Solutions effective January 1, 2019. The alliance between Swiss Re Corporate Solutions and EF Marine will be an excellent proposition to the market, providing a partnership that will be beneficial to small and medium sized Ship Owners, Charterers and Multimodal operators globally.
Edwin Li, Managing Director at EF Marine, says: ‘We are happy to be working with Swiss Re Corporate Solutions. Our underwriters have in-depth knowledge of clients’ businesses and are supported by skilled claims professionals who are determined to provide quick solutions and 24/7 emergency response assistance. By working with Swiss Re Corporate Solutions, we can offer our clients some of the largest capacities in the market from one of the largest and financially secure (re)insurance companies in the world.”
With the strong growth in the Asia Pacific maritime industry, there is a trend of ship owners moving from classic mutual insurance model towards fixed premium P&I due to the increasingly complex marine risks. These risks include increased trade transparency, competition and regulatory pressures, which expose charterers to new liabilities that require high level of specialization and service from insurers.
“Combining EF Marine’s best-in-class P&I capabilities and expertise with our capacity and flair for innovation, will allow us to deliver tailor-made solutions to a fast evolving sector that faces new liabilities and more complex risks,” states Peter Schraa, Head of Marine Cargo, APAC. “We’re excited to partner with EF Marine to expand our product range beyond Cargo, Project Cargo and Hull and Machinery covers.”
About Swiss Re Corporate Solutions
Swiss Re Corporate Solutions provides risk transfer solutions to large and mid-sized corporations around the world. Its innovative, highly customised products and standard insurance covers help to make businesses more resilient, while its industry-leading claims service provides additional peace of mind. Swiss Re Corporate Solutions serves clients from over 50 offices worldwide and is backed by the financial strength of the Swiss Re Group.
About EF Marine
EF Marine is a fixed premium P&I specialist. Through a team of highly skilled marine professionals in Singapore (head office) and Rotterdam offering a combined P&I experience of over 150 years, EF Marine has profound knowledge of complex marine risks. With a global reach, broad range of products and deep understanding of the marine logistical supply chain EF Marine works closely together with its clients and brokers. By doing so it provides unrivalled service and real tailored solutions. The combination of EF Marine’s strengths, and the exclusive and long-term support of Swiss Re, makes EF Marine a market leader from the start.