Allianz Commercial forms insurance partnership to expand marine cover in Asia

The initial focus will be on Hull and Machinery cover for coastal and inland tonnage.

Allianz Commercial and Coastal Marine Asia Underwriting have formed a partnership to expand marine hull insurance offerings across Asia-Pacific. 

The agreement was signed by Allianz Global Corporate & Specialty SE’s Hong Kong branch and Coastal Marine Asia Underwriting.

The partnership combines Allianz Commercial’s regional distribution network with Coastal Marine’s expertise in coastal and brownwater vessels. 

The firms said the collaboration aims to broaden access to marine hull cover and strengthen risk management support for operators in the region.

The initial focus will be on Hull and Machinery cover for coastal and inland tonnage in Indonesia, Singapore, Malaysia, Thailand and Hong Kong. 

Both companies plan to expand product offerings as the partnership develops.

The partnership will be overseen by Coastal Marine Chief Underwriting Officer Simon Stonehouse and Hong Kong General Manager Clement Chow, both of whom bring extensive regional and industry experience.