By KYIV. Nov 23 (Interfax-Ukraine) – International insurance broker Oakeshott Insurance Group Ltd. (OIG), a Lloyd’s of London insurance broker, on November 9 reached an agreement with London Marine Insurance Services Ltd (LMIS) that they would start operating in Ukraine and would look after the reinsurance needs of Oakeshott’s existing Ukrainian clients, according to a press release from Oakeshott.
"Due to the internal business changes to specialize mainly in marine, cargo, energy and facultative enquiries, and following the request of our colleagues in Kyiv, we have reached an agreement with London Marine Insurance Services Ltd (LMIS) that they would start operating in Ukraine and would look after the reinsurance needs of Oakeshott’s existing Ukrainian clients," Oakeshott said in the press release.
According to the press release, Oakeshott will continue to be legally responsible under the above contracts, and asks to copy us on all correspondence until the LMIS/former Oakeshott’s Kyiv operation has completed the administration set up procedure and is fully operational. Once that has been achieved, LMIS will inform everyone accordingly and all obligations under existing contracts will be legally removed from the Oakeshott Insurance Group.
According to the announcement, Oakeshott London/Maldon/Valencia will be continuing with our specialisations: direct marine, cargo, energy and all types of facultative reinsurance from different countries.
"In Ukraine, we will be working with our direct marine partners, some of whom have been with us since the beginning of 1990s. We also intend to spend further efforts in internet-based operations," Oakeshott said the press release.
Broker Oakeshott, registered in the UK in 1993, has had a presence in Ukraine since 2000.
Earlier it was reported that on November 11, the National Bank of Ukraine entered a representative office of London Marine Insurance Services Limited into the Public Register of Insurance and Reinsurance Brokers.
