Maersk closes major deal
Norwegian maritime insurance company Gard has taken over the insurance of more than 800 Maersk vessels from the UK company XL Catlin, TradeWinds writes. The insurance company has offered Maersk better conditions than the former English partner of many years.
"We had a good and long negotiation with XL Catlin, but we could not come to a compromise, so we decided to go our separate ways in a friendly manner," says Maersk Insurance Director Lars Henneberg to TradeWinds.
"Gard was able to offer better terms and be better positioned to handle business relationships," he adds.
Maersk does still have business ties with XL Catlin, who are in charge of the insurance of Maersk’s terminals.
Out of the 800 vessels, 350 of them are containerships including the ultra large vessels.
Source: TradeWinds / Maritime Danmark