Barbican Group Holdings Ltd. has acquired Seacurus Ltd., a U.K.-based specialist marine insurance broker that's a leading provider of marine kidnap and ransom insurance.
Seacurus will continue to operate under its current brand. Details of the transaction were not been disclosed.
David Reeves, chief executive officer of Barbican, said "Seacurus is an excellent fit for Barbican and we see clear synergies between us, not only in terms of the portfolios of business, but also the culture which exists in each organisation.”
In April, Seacurus launched CrewSEACURE, an insurance product for employers of seafarers required to meet regulatory obligations under the Maritime Labour Convention 2006 and the International Guidelines on Seafarer Abandonment. The company said the product offers cover in the event of an employer’s financial default, and includes the indemnification of unpaid wages. - Chris Dupin