AHG of Lloyds boosts oil & gas capacity for local market

Focusing on building local capacity for oil and energy insurance, Globetrade Insurance Brokers Limited is consolidating on a platform that would enable local insurance practitioners interact with their counterparts from the London market.

It was against this backdrop that Globetrade Insurance Brokers is partnering London-based Alwen Hough Johnson, a firm registered at the Lloyds, to drill insurance managers in oil and gas insurance.

The seriousness of the partnership was brought to the fore when the duo organised a one-day lecture on oil and gas insurance in Lagos recently.

The training session which was at no cost to the participants was held at Reinsurance House in Lagos with no fewer than 10 insurance organisations sending participants.

The organisers of the training session who scheduled the event to run on rotational basis have now confirmed that the second leg of the high technical gathering will hold in Qatar later this year.

Sly Imarahi, managing director and chief executive officer of Globetrade Insurance Brokers who confirmed the plan for the Qatar leg of the training said that the overseas partners have virtually concluded plans for the all-important event.

Imarahi said the Qatar session will take participants through an over view of the London market regulations including premium payment warranties and non compliance in heavily regulated environment, how an insurer, broker and or re-insurer relationship can produce a win-win situation for all parties involved, understanding joint ventures within the upstream energy industry and the owner/contractor relationship as well as risk aggregation and clash.

He had gone further to remark that participants who will be drawn from insurance firms, broking and reinsurance houses as well as loss adjusting firms would be engaged in an interactive session with delegates from other markets during which they would be asked to provide their understanding of a number of acronyms.

Imarahi who practised in the reinsurance market before joining the underwriting fraternity where her rose to manage a couple of insurance firms including Destiny Insurance Company added that the Qatar training will also focus on global energy insurance and the role  cum relevance of treaty and facultative reinsurance.