Arch Insurance Group, a division of Arch Capital Group Ltd., has entered into a marketing and servicing agreement with Eagle Ocean Services, Inc., a member of the Eagle Ocean Group of Companies.
Working in close cooperation, Arch and Eagle Ocean will respectively underwrite and provide marketing, claims handling and other services for the insurance of bluewater hulls on a worldwide basis. The new facility will be based in New York and will offer a full range of hull and related insurance products for the global shipping industry.
Jay McGuire, managing director, Arch Insurance Group, recently joined Arch from the Navigators Management Company, Inc., to oversee the new operation.
Joe Hughes, chairman and CEO of the Eagle Ocean Group, noted, “We are delighted at having established this relationship with Arch. It is certain to be a great success. The strength of Arch Capital provision, the expertise of Jay McGuire and his team, and the global network which Eagle Ocean Companies enjoy – not least through Shipowners Claims Bureau, Inc., managers of the American P&I Club – provide a remarkable confluence of positive factors. This initiative will create a new marine insurance dynamic both here in the United States and elsewhere in the world.”
Was this article valuable?
Here are more articles you may enjoy.