Oslo-based P&I insurer acquires Singapore’s EF Marine

The merged entity will operate under the Hydor brand, employing 34 individuals.

Protection and indemnity insurer, Hydor, has acquired Singapore-based EF Marine and its subsidiary.

The merged entity will operate under the Hydor brand, employing a team of 34 individuals across multiple locations, including Oslo (headquarters), Rotterdam, Hamburg, Singapore, Hong Kong, and Shanghai. 

After the acquisition, Longship, Johan Gjernes, Morten Skomsøy, and Folkert Strengholt will become shareholders of the "new Hydor." 

Folkert Strengholt assumed the role of Chief Executive Officer last 4 August. 

The management team will also include Eirik Bøhm (Chief Financial Officer), Johan Gjernes (Chief Business Development), Morten Skomsøy (Chief Underwriting Officer), and Eglantine Bentz (Chief Claims Officer).

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This acquisition follows Longship Fund II's investment in Hydor in April 2022.

The company will maintain its focus on fixed premium P&I coverage for Shipowners and Charterers, offering limits up to $1b along with optional freight, demurrage, and defense insurance. 

The portfolio will encompass war cover and complementary products. 

Hydor will also extend its services to include Energy, Marine Hull and Machinery, and Marine cargo insurance, ensuring comprehensive coverage for clients' Marine and Energy ventures.