have signed an agreement to combine resources and provide ground-breaking protection and indemnity insurance cover for Japanese owned and controlled shipping companies.

Tokio Marine & Fire is the largest non-life insurance company in Japan and is one of the market leaders in marine insurance world-wide.

The Standard P&I (Bermuda) Club is one of the financially strongest of the P&I clubs in the International Group.

The Standard & Poors ratings of the two companies are respectively AAA and AA minus.