Britannia P&I, which claims to be the world’s oldest P&I club, has been granted a license by Hong Kong’s Insurance Authority (IA) to underwrite business from its Hong Kong office.
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, according to Ship Management International.
“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.
“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.”
According to Ship Management, the granting of a license in Hong Kong comes as Britannia implements a strategy called ‘think global, act local.’ As 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.
