Britannia granted Hong Kong licence
(Posted on 31/01/19)
Hong Kong’s insurance regulator, the Insurance Authority (IA), has granted Britannia a licence to underwrite business from its Hong Kong office.
This positive news is in line with Britannia’s strategy of ‘think global, act local’. This has seen new Exclusive Correspondents for the Association opening in Taiwan and Denmark and the recent purchase by Tindall Riley (Britannia’s Managers) of the Britannia exclusive correspondents in Japan and Singapore as well as Tindall Riley opening an office in Greece.
Britannia is also working towards activating its licence in principle, obtained in late 2018, which will allow it to underwrite business out of Singapore.
The Hong Kong branch office will continue to be managed by the very experienced 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.
“The granting of the Hong Kong branch’s licence in a short space of time is 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” said Andrew Cutler, CEO of Britannia and the Managers.
“Half of our membership is based in Asia and the vast majority trade within the region. Establishing regional hubs in Hong Kong, Japan and Singapore is key to our strategy of providing our Members with a local service that is personalised and backed by a global presence in the market,” he continued.
Britannia recently announced that there would be no General Increase to the advance calls for the 2019/2020 policy year.
The Club’s strong financial position was re-enforced in September when S&P Global Ratings, the world’s leading independent credit ratings provider, reaffirmed its ‘A’ (stable) rating, adding that the outlook for the Club remains stable over the next three years based on the its current capital buffer which exceeds S&P’s 'AAA' level requirement.
Latest News
Better safeguarding measures needed to support cadets at sea
(Posted on 07/05/25)Cadets are increasingly struggling to complete their cadetships due to a shortage of available placements... Read more
Algoma focuses on reliable service and fleet improvements
(Posted on 07/05/25)Algoma Central Corporation has reported its results for the three months ended March 31, 2025. Algoma... Read more
ClassNK releases ‘Prime Shipmanagement Guidelines’
(Posted on 01/05/25)ClassNK has released ‘Prime Shipmanagement Guidelines’ which aim to achieve sustainable... Read more
MCTC ensures quality remains at top of the table amid global tensions
(Posted on 30/04/25)In the face of unpredictable provisioning costs, port disruptions, and longer lead times MCTC has reinforced... Read more
NORDEN raises full-year guidance for 2025
(Posted on 28/04/25)On the back of the increased gains from sales of vessels and good operational performance, NORDEN, a... Read more
INTERCARGO welcomes ILO recognition of seafarers as key workers
(Posted on 28/04/25)The International Association of Dry Cargo Shipowners (INTERCARGO) has welcomed the recent decision... Read more
MMS advises why seafarers must remain vigilant about malaria
(Posted on 25/04/25)Despite its lack of publicity, malaria remains an ongoing epidemic and a perilous threat to seafarers... Read more
Veson: Bulker S&P activity falls sharply in Q1 2025
(Posted on 22/04/25)Due to market uncertainty, overall sale and purchase levels for Bulkers have fallen year on year, with... Read more
Britannia Group announces CEO succession plan
(Posted on 22/04/25)The Britannia Group, a leading P&I insurer, has announced that its Chief Executive, Andrew Cutler... Read more
INTERCARGO responds to IMO's decision on GHG reduction measures
(Posted on 15/04/25)At last week's landmark MEPC 83 meeting, the International Maritime Organization (IMO) Member States... Read more
