Oslo-based marine insurer Hydor completed the takeover of UK protection and indemnity and hull and machinery insurer Coastal Marine Services (CMS).
The acquisition will take Hydor’s annual insurance premium over $50m and expands its reach into the small vessel market.
“The acquisition of CMS is an important step in Hydor’s strategy to build a strong position in the segment of small commercial boats offering both P&I and H&M cover to these clients”, Hydor chief executive Folkert Strengholt said.
