International insurance broker Oakeshott Insurance Group Ltd (OIG), broker Lloyd’s of London, and London Marine Insurance Services Ltd (LMIS) signed a cooperation agreement in Ukraine on November 9, according to a press release from Oakeshott.
“Due to internal changes in the business, intending to specialize mainly in insurance and reinsurance of marine risks, cargo and energy, Internet insurance and at the request of our colleagues in Kyiv, we reached an understanding with London Marine Insurance Services Ltd. Our Kyiv colleagues, contract reinsurers will join LMIS and take care of Oakeshott’s Ukrainian contract reinsurance clients.
According to the press service, Oakeshott will continue to be liable for contracts, and asks to put it in copies of all correspondence until LMIS is fully operational, and all obligations under previously concluded contracts are, by law, removed from Oakeshott.
According to the announcement, Oakeshott London/Valencia will develop its usual specialized operations: direct marine, cargo, energy insurance and all types of facultative reinsurance from different countries (the broker now operates in 22 countries).
“In Ukraine, we will work with our maritime clients, a number of whom have been friends with us since the early 1990s. We will also develop online sales operations,” the report says.
Broker Oakeshott, registered in the UK in 1993, has had a representative office in Ukraine since 2000
Earlier it was reported that on November 11, the National Bank of Ukraine entered a representative office of London Marine Insurance Services Limited into the State Register of Insurance and Reinsurance Brokers.
