Italian insurance broker Cambiaso Risso has announced the takeover of Fender SA, a boutique marine insurance broker in which the Italian company already had a 30% stake. Fender is mostly active in the P&I market.
“The joining of the two companies marks a new and very dynamic era for the local Greek and international marine insurance field, through the combination of the vast know-how and excellent performance of Cambiaso Risso in Hull & Machinery risks, and the expertise of Fender in the Protection & Indemnity Insurance” the statement highlights. “In the new group Fender is bound to be a center of excellence for P&I and will assist the international growth in this very important sector of marine insurance”.
The enlarged entity sees the group’s hull & machinery and P&I grow to 10,000 vessels insured out of 20 different countries.