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.

Featured Video

Most Recent Videos

Video Library ››

Top Story

10 states with the highest and lowest homeowners' insurance rates

The average cost of homeowners' insurance varies widely across the U.S. How do the rates in your state compare?

Top Story

20 best car insurance companies of 2016 ranked by consumers

What are the best auto insurance companies? Insure.com’s customers rank 20 of the biggest insurers.

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.