10th May 2022
London P&I Club brings together expert team to service growing Offshore and Specialist vessel business in Asia.
The London P&I Club has brought together an experienced team from across its Hong Kong and London offices to cater for a growing offshore and specialist vessel book. The new structure will further enhance its service to existing and prospective Members and Assureds operating offshore and other specialist craft, under the Club’s traditional Rules based cover and bespoke Additional Covers such as Specialist Operations.
The newly formed team draws on both external insurance and industry experience and internal know-how in the Hong Kong and London offices – and reflects the Club’s further expansion in the offshore sector.
Underwriting Director, Reto Toggwiler explains:
“Our new set up has been driven in part to support the needs of Members and Assureds involved with the offshore construction industry and growing renewables sector, which forms a fundamental part of China’s Belt and Road Initiative. Already benefiting from a strong position in China, the London Club’s offshore expertise makes our Hong Kong office uniquely positioned to be one of the leading insurers in this area.”
Fiona Pounds, Associate Director in the Club’s Hong Kong office adds:
“Offshore or specialist vessel operations present unique challenges and can expose the assured to additional risk. At the outset of a project, our contract review lawyers here and in London can work with the assured to identify any potential risks that fall outside of our standard P&I cover. Our Underwriters can advise on and arrange extended cover to manage the additional risk. The new Offshore and Specialist vessel team includes legal, technical, and claims professionals, all with experience in the offshore sector.”
“Whilst the Club has been offering this type of cover for some years, our new structure consolidates experience and know-how from across the two offices, helping to ensure we provide a comprehensive, expert service.”
“I am delighted to have the chance to bring my offshore background to the unique challenges of large scale state owned projects in Asia and the development of the Club in this area in general.”
Wenjie Gao, Senior Underwriter from the Hong Kong office comments:
“In the Far East, we have seen a transition from the more traditional offshore oil engineering to global maritime infrastructure projects arising from the Belt and Road Initiative and a strong focus on offshore wind power to implement the strategic goal of "carbon peaking and carbon neutrality”. The rapid development of technology and requirements of the industry means that the demands on vessel owners and the attributes of specialist vessels are becoming more and more diverse. These projects have undoubtedly brought new challenges to the operators of specialist vessels and their insurers. Each project and its contracts are different. Our Underwriting Team can provide "one-stop" comprehensive cover and support for offshore and specialist vessels.”
The London P&I Club’s specialist team comprises: https://www.londonpandi.com/documents/team-sheet/