West P&I Club has officially opened its new base in the Dubai International Financial Centre (DIFC), the first International Group (IG) Club to establish a presence in the Middle East.
Chaucer Group has appointed Mr Ivan Sit as class underwriter, marine. In his new role, he will launch Chaucer's regional marine offering via the company's Lloyd's Singapore platform.
Charles Taylor has appointed Mr Allwyn D'Souza as senior surveyor in Sydney, Australia; Mr Duan Mingxin as surveyor in Shanghai, China; Captain Harshvardhan Kumar as director - marine technical services in Australia; Mr Ong Eng Hong as marine surveyor in Singapore and Mr Steve Hawthorne as senior marine surveyor in Hong Kong.
Tysers has appointed Ms Babita Rai as CEO, Singapore and Mr William Furness-Smith as head of marine, APAC.
The International Group of Protection and Indemnity Clubs (IG) is expected to increase rates by an average of close to 5% in 2025, similar to the increase during the renewals in 2024, according to S&P Global Ratings.
Tokio Marine Kiln (TMK) has appointed Mr Alexandros Ampatzis as head of marine in APAC, effective 1 November. In his new role, he will primarily be focused on deepening TMK's presence in target markets across the region and continuing the team's rapid growth.
Rare Earth Insurance Partners Shanghai (Rare Earth Shanghai) has been launched in mainland China as an independent wholesale insurance broker.
Global marine insurance premiums in 2023 totalled $38.9bn - a 5.9% increase over 2022, according to the International Union of Marine Insurance (IUMI).
Hong Kong's Insurance Authority (IA) will carry out a review next year to strengthen Hong Kong's position as a global risk management centre, revealed Mr John Lee, the territory's Chief Executive.
The Shanghai Bureau of the National Financial Regulatory Administration has issued the "Guiding Opinions on Promoting the High-quality Development of Shanghai's Shipping Insurance Industry", setting out the goal of building the eastern Chinese port city into an international shipping Insurance centre.