Norwegian insurance company, Hydor AS, has acquired Singapore- and Rotterdam-based counterpart EF Marine and its subsidiary. The combined firm will be branded as Hydor, with a total team of 34 people and a head office in Oslo. The new company will also have offices in Rotterdam, Hamburg, Singapore, Hong Kong and Shanghai.
The acquisition follows the investment by Longship Fund II into Hydor in April 2022. It represents the next step into the company’s further growth.
The joined Hydor will be a P&I and Marine MGA specialist with a premium income of $40 million. The company will continue to focus on fixed premium P&I cover for shipowners and charterers with limits up to $1 billion, plus optional FD&D insurance.
The company is also doing energy, marine hull, machinery and marine cargo insurance. Thereby enabling Hydor to be a full-service provider to its clients.