New marine broker opens in Jo'burg

OAKWOOD MARINE and Aviation Brokers has opened its doors in Johannesburg.
Headed up by Keith Barrett, whose 28 years in the insurance industry include 20 in the marine field, the company believes it has a niche role to fill.
"Market research has revealed that a number of insurance brokers are not sufficiently knowledgeable about marine," says Barrett.
"We believe that a niche exists for a company like Oakwood that could work with insurance brokers with a view to protecting their PI exposure.
"We're intending to work with small brokers who are not marine specialists," said Barrett, who was previously marine and aviation manager at Swiss Re Southern Africa where he was responsible for servicing all specialist underwriters throughout sub Saharan Africa.
Previously involved in marine insurance-related training at the College of Insurance with Fred Jones of Donsby, Barrett will continue lecturing in marine insurance and related issues in the future.
Majority shareholders in the company are Chastead Investment Limited, a joint venture between Robert Shaw and Steve Murphy.
Both well known figures in marine insurance circles, Shaw has worked in the reinsurance industry (Hannover Re) for ten years while Murphy recently resigned as chief executive of the Hannover Reinsurance group after 20 years service.