- Britannia P&I has been granted a license by Hong Kong’s Insurance Authority to underwrite business from its Hong Kong office.
- The license has been granted to support the local marine insurance sector.
- Hong Kong office will continue to be managed by the existing team of experts.
- The company aims to provide local personalized service backed by a global presence in the market.
According to Insurance Business Asia, the world’s oldest P&I club Britannia P&I has been granted a license by Hong Kong’s Insurance Authority (IA) to underwrite business from its Hong Kong office.
Testament of hard work
According to Ship Management International, The company has assured that the Hong Kong office will continue to be managed by the existing team led by Tim Fuller as the Chief Executive, Richard Inman as Head of Underwriting, Gordon McGilvray as Head of Claims, and Monica Kwok as Head of Finance.
Andrew Cutler, CEO of Britannia commented that the granting of the Hong Kong branch’s license in a short space of time is a testament to the hard work of all involved in Hong Kong and London, along with the determination of the Hong Kong IA to support the local marine insurance sector.
Personalized service with a global presence
Half of their clientele is based in Asia and the vast majority trade within the region. Establishing regional hubs in Hong Kong, Japan, and Singapore is a key to their business strategy of providing members with a local service that is personalized and backed by a global presence in the market.
The awarding of license in Hong Kong comes close on the heels of Britannia implementing a strategy called “Think Global, Act Local” campaign. As a part of that strategy, Britannia is also currently working towards activating its license in principle which will allow it to underwrite business out of Singapore.
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Source: Insurance Business
