Shanghai
29 June 2017
Reporter: Becky Butcher
China Shipping Energy Transportation enters into insurance agreement
Cosco Shipping Energy Transportation, the energy-shipping unit of China Cosco Shipping Corporation, has entered into an insurance services framework agreement with Cosco Shipping Insurance.

Under the agreement, Cosco Shipping Insurance will provide vessel-related insurance services to the group from 1 July 2017 to 31 December 2018 and can be renewed within three months of its expiration.

The deal comes after China Cosco Shipping set up its own captive insurance unit in February, located in Shanghai, after parting from long-term business partner The London P&I Club.

Cosco Shipping Energy Transportation and its subsidiaries predominantly focus on oil shipment along the coast of China and international shipment, and transportation of liquefied natural gas imported by China, and vessel chartering.

More Industry news
The latest news from Captive Insurance Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
North Carolina captive industry sees ‘rapid growth’
19 July 2017 | Raleigh | Reporter: Becky Butcher
The North Carolina captive insurance industry experienced rapid growth in 2016, according to the state’s Department of Insurance
NSU to launch new surety captive
17 July 2017 | Philadelphia | Reporter: Stephanie Palmer
National Surety Underwriters has raised $11.5 million in funding for the capitalisation of a new special-purpose surety reinsurance captive, the National Fidelity Reinsurance Company
Risk Strategies snaps up employee benefits duo
13 July 2017 | Boston | Reporter: Becky Butcher
Risk Strategies Company has welcomed Kate Genovese and Pauline Sobelman to its employee benefits practice group
Severe US weather outbreaks cause £3bn in losses
13 July 2017 | Chicago | Reporter: Becky Butcher
Worldwide economic and insured losses during June were largely driven by several major severe weather outbreaks in the US, according to Aon Benfield’s Impact Forecasting
ILS continues to drive innovation
11 July 2017 | Zurich | Reporter: Becky Butcher
The insurance-linked securities (ILS) market will continue to drive innovation and efficiency in risk financing for the benefit of protecting buyers and investors, according to Christoph Buerer of Twelve Capital
CBL acquires stake in Allied Risk Holdings
10 July 2017 | Dublin | Reporter: Becky Butcher
CBL Corporation has acquired a 40 percent stake in Allied Risk Holdings, a captive insurance management firm in Dublin, for €1.38 million
Owen-Dunn expands captive footprint
06 July 2017 | California | Reporter: Becky Butcher
Sacramento-based Owen-Dunn Insurance Services has expanded its captive insurance offering, after seeing growing demand from mid-size business owners