British Marine was wholly acquired by QBE in November 2005. QBE is one of the world's leading international insurers and reinsurers, headquartered in Sydney, Australia. The Group operates in 37 countries across the globe with a presence in all key insurance markets, and we are lead underwriters within our chosen markets, setting rates and conditions. For the year ended 31 December 2015, the company underwrote gross written premium totalling £15,092 million and held shareholders' funds of £10,505 million.
Refer to the QBE Group website.
In March 2010, all British Marine assets and liabilities (including its current and past contracts of insurance and reinsurance) were transferred to QBE Insurance (Europe) Limited [QIE].
Refer to the QBE European Operations Financial strength page.
As a long-established International P&I provider, underpinned by the financial strength of a major world-wide insurance company, British Marine's corporate guarantee letters for insured claims are proven to be broadly accepted by claimants around the globe. Where a claimant will not accept the P&I insurer's corporate guarantee, a first class bank guarantee facility can be utilised.