Hydor has finished its expanditions.
Hydor has finished its expanditions. Photo: Hydor
Print Friendly, PDF & Email

Hydor, an Oslo-based fixed marine underwriter, has announced new in-house claims services and expanded facility for Hull & Machinery coverage.

Established in 2010, Hydor has established itself as an emerging global player in the fixed premium (commercial) P&I insurance ma[ds_preview]rket. The company is specialised in P&I cover for owners operating vessels up to 45,000 gt, with limits up to 1 bn $ and cover for any type of charterer, with no restrictions on vessel size or type.

»In 2016, Hydor expanded services in Hull & Machinery coverage, securing a capacity of 10 mill. $, Managing Director Morten Skomsøy said. »This was mostly an add-on to our P&I products. As our volume has increased, we have identified demand for more comprehensive services«, he adds.
Skomsøy notes that demand for integrated services for all lines of business has resulted in some new hires at the company. »Effective March 1, Hydor will manage claims in-house,« he says.

While based in Norway, the company is a global provider of marine underwriting services, with a market presence in Europe, Asia and the Americas. It formed a joint venture with the London-based P&I underwriter, the Standard Club, in 2016. The new company StandardHydor will operate exclusively in Norway, Sweden and Finland for the Standard Syndicate, an insurance provider for the Lloyds market. Hydor has also works in cooperation with First Capital Insurance, a Fairfax company based in Singapore, and Asia Capital Reinsurance (ARC), a leading regional player in the dynamic pan-Asia region, with networks that extend from the Middle East, South East Asia, China and into Japan.