Oslo- based Marine MGA Hydor AS has actually obtained all the shares in the Singapore- and also Rotterdam- based aquatic MGA, EFMarine Pte Ltd., and also its subsidiary.
The incorporated business will certainly from hereafter be branded as Hydor, with a complete group of 34 individuals, having workplaces in Oslo (head workplace), Rotterdam, Hamburg, Singapore, Hong Kong and alsoShanghai The procurement complies with the financial investment by Longship Fund II right into Hydor in April 2022.
Morten Skoms øy, existing chief executive officer of Hydor, claimed, “The acquisition of EF Marine represents a perfect fit for Hydor with EF Marine being a company of equal size and providing complementing geographical footprint, limited common producing brokers and no overlapping accounts, all within the common space of fixed premium P&I insurance.”
Folkert Strengholt, existing chief executive officer of EF Marine, claimed, “From the moment we started our discussions with the Hydor management it was immediately clear our organizations share similar business principles, reflecting common risk understanding and appetite. The joined company will be well extremely positioned for the future, forming an even stronger partner for our mutual clients moving forward.”
The signed up with Hydor will certainly be an expert P&I and also Marine MGA with a superior earnings of $40 million. Hydor will certainly remain to concentrate on set costs P&I cover for shipowners and also charterers with restrictions approximately $1 billion, plus optional FD&D insurance policy. The business will certainly remain to supply battle cover and also secondary items to its customers. The business is additionally doing power, aquatic hull and also equipment and also aquatic freight insurance policy, allowing Hydor to be a full-service carrier to customers in aquatic and also power.
Following the procurement, the brand-new Hydor will certainly be had by Longship, Johan Gjernes, Morten Skoms øy and also Folkert Strengholt as investors. As of August 4, 2023, Folkert Strengholt will certainly be the brand-new president of Hydor creating the monitoring group along with Erik Bøhm (principal monetary policeman), Johan Gjernes (primary company advancement), Morten Skoms øy (principal underwriting policeman) and also Eglantine Bentz (primary cases policeman).
