Emerging Markets Create Marine Opportunities

Emerging markets in Brazil, Columbia India and East Asia are creating opportunities for Ocean Marine underwriters.

“The amount of infrastructure being built in these places is staggering. In India, they can’t keep up with the power requirements,” says Nigel Fitzgerald, marine and energy practice leader for P&C insurance group Crum & Forster.

In many of the world’s fastest-growing economies, countries are “playing catch-up,” according to Fitzgerald. That means more shipments of goods, delivered on a just-in-time basis, to keep up with construction, infrastructure necessities and other demands.

Construction companies are investing huge amounts of capital into these emerging markets, agrees Donald Harrell, senior vice president of marine for Liberty International Underwriters.

The number of projects predicted to get built over the next decade can only mean Ocean Marine writers “will feel the ripple effect,” Harrell says, as massive amounts of building materials get shipped from port to port.

Top Story

2014 has become the year of the auto recall, and the numbers are staggering

It’s been a record-setting year for automakers, but not in a good way.

Top Story

The 'Lake Effect' in action: Here's what Buffalo looks like today

Western New York State has been bombarded with snow this week, with more than 5 feet falling near Buffalo -- and an additional 2 feet is expected to fall through tomorrow.

More Resources

Comments

eNewsletter Sign Up

PropertyCasualty360 Daily eNews

Get P&C insurance news to stay ahead of the competition in one concise format - FREE. Sign Up Now!

Mobile Phone
         

Advertisement. Closing in 15 seconds.