FP Marine Risks to open branch office in Sydney

May 2008

SYDNEY and HONG KONG, 7 May 2008 - FP Marine Risks, independent marine insurance brokers headquartered in Hong Kong, today announced the opening of a new branch office in Sydney, Australia.

This is the company’s second office in Australia and the sixth internationally, and further bolsters FP Marine Risks’ presence in the Asia Pacific region.

Heading up the new office is Tim Cutler, an experienced marine insurance professional with a broad background in claims, broking and underwriting.

Tim will work closely with the company’s clients throughout the region, building on the successful start that the Melbourne office has already made there.

Group Executive Director, Philip Bilney, says: “Sydney is a strategically important insurance centre in Australia and the Sydney office will play an integral role in strengthening our existing relationships. We are particularly excited by the opportunity this gives us to accelerate the introduction of new products and initiatives throughout the region.”

Peter Sandall, General Manager for Australia and New Zealand, adds: “The new office will supplement FP Marine Risks’ service and resources in Australia and New Zealand, and I look forward to working closely with Tim in raising the company’s profile and service capabilities across the market.”