Hong Kong Grants Licence to Steamship Mutual

Protection and indemnity club Steamship Mutual P&I Club has been given a licence in Hong Kong by Hong Kong Insurance Authority , its third in the Far East after Singapore and Tokyo.

"Hong Kong Insurance Authority has formally authorised the Club to establish a Branch in Hong Kong from 17 August 2018," said a press statement.

Steamship Mutual is the first P&I Club to gain authorisation from the independent statutory authority, which commenced operation in 2017.

The Club has maintained a presence in Hong Kong for almost 30 years, and formal authorisation provides a solid platform to deliver the full range of P&I services to Members and brokers, especially underwriting and claims services predominantly for Owners and charterers based in Hong Kong, China and Taiwan.

Rohan Bray, who has been with the Club for 24 years on the claims side, the last 20 of those in Hong Kong, assumes the role of CEO of the Branch and Head of the office. Eric Wu, Head of Underwriting, has worked in P&I for the past 13 years, nine of those with Steamship, following a decade as an average adjuster.

Head of Claims Nina Jermyn has been with the Club for 16 years in both the Hong Kong and London offices. Of a staff totalling 11, claims handling service is provided by seven, including three qualified solicitors to enhance the Branch’s Freight, Demurrage & Defence (FDD) capability.

Authorisation of the Hong Kong Branch follows the recent establishment of licensed branches in Singapore and Tokyo, boosting Steamship Mutual’s physical presence in the Far East, a region in which the Club has been a major player for many years.

Gary Rynsard, Execuitve Chairman, said: "The Club is very pleased to have obtained authorisation from the Hong Kong Insurance Authority, enabling us to provide a complete range of services from the Hong Kong office, especially to Members in the Greater China area. Steamship Mutual has always prided itself on providing excellent service and as part of the effort to improve we’ve recently been opening offices around the world. Obtaining this licence in Hong Kong is yet another step in enhancing service to our Members and making the Club a more attractive option for shipowners.”