March 1977 - Maritime Reporter and Engineering News

MOAC Forms Marine Pool With Irish And French

Marine Office of America Corporation (MOAC) has formed the "European American Marine Pool" to be made up of The Insurance Corporation of Ireland (ICI) and La Preservatrice A.I.R.D., a French multiple line insurer.

According to MOAC's president John A.

Potts, the Pool is designed to assist these and other European insurers to expand their marine underwriting business in the United States.

"The Pool, to be managed by MOAC, will provide a greater capacity of marine reinsurance and insurance in the United States, while serving to expand the international operations of the Irish and French insurers," Mr. Potts said.

Both companies have been licensed and admitted to the State of New York, and will write conventional wet marine business exclusively. At present, the Pool's capacity is $2 million per risk.

ICI, the leading underwriter of marine and aviation insurance in the Republic of Ireland, has been conducting reinsurance business for many years with MOAC on marine and aviation risks in Ireland and other countries of Europe. La Preservatrice, based in Paris, ranks second in marine insurance underwriting in France.

MOAC is the marine insurance subsidiary of The Continental Corporation.

Other stories from March 1977 issue


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