The expansion, Ang said, puts SMMI
in a better position to aggressively strengthen its export business, particularly with the full implementation of the ASEAN Economic Community in 2015, which will allow for the free flow of goods, without duties, between ASEAN neighbors.
has a strong business profile as a specialist insurer of fishing vessels, coastal vessels and aquaculture risks.
This unique opportunity will draw upon longevity of service and dedication to customers, both of which are strong attributes for North and SMMI
In addition to in-depth social media training members of SMMI
will have access to special perks and discounts from leading technology vendors throughout various industries.
Best's opinion, SMMI
maintains a strong business profile in its specialist markets.
According to Shirke, "The merger combines North s international portfolio of high quality, larger tonnage with SMMI
s wide spread of high-volume, small-tonnage risks and aquaculture expertise.
North's joint managing director Alan Wilson said: "As a result of the business similarities between North and SMMI
and their complementary global activities, we have now agreed in principle to investigate the practicalities of a merger.
Best believes that despite weakening, SMMI
will maintain excellent risk-adjusted capitalisation in 2008.
It has always felt a little bit uncomfortable to be seen as the leading face of the company, when I know that it is the collective effort of a committed and dedicated team of professionals I work with that has transformed SMMI
into the niche global insurer it is today.
Best believes that SMMI
will maintain excellent risk-adjusted capitalisation in 2007 and 2008 despite challenges it is likely to face writing its specialist marine account (expected to constitute over 80% of gross premium income for the period).
Best anticipates strong earnings from SMMI
in 2006, although further ahead, softening in the marine market is likely to affect performance.
Geoffrey Parkinson, chief executive of SMMI
, said: "We have had a really positive start to 2012, and this is something we hope to build upon through the second half of the year.