British firm leads bidding for Panama Canal insurance contract

Five firms presented the Panama Canal Authority with bids for a contract to provide an insurance corridor on three contracts in the program to increase the canal's capacity.

Thursday, July 17, 2008

Willis Ltd., of the United Kingdom, presented the lowest bid, US$695,000, followed by Marsh USA with US$825,525. The other bids were received from Jardine Lloyd Thompson of the UK, Arthur Gallagher & Co. of the US, and AON Global of Mexico.
Under the rules of the tender, the canal authority has to accept the lowest bid, but it has 30 days in which to ensure that the bid meets all the technical requirements.

More on this topic

Canal Expansion: $100 Million in Insurance

August 2009

The company Willis Limited has been hired as broker to place this insurance in the international market.

The Panama Canal Authority informed that "Civil liability for the Canal expansion project will be covered with a maximum $100 million insurance".

Insurance for civil liability and construction risks for the third set of locks will be hired directly by the Panama Canal Authority.

Willis of England gains Panama Canal insurance contract

July 2008

The Panama Canal Authority has signed a 695,000-dollar contract with Willis Limited of England for brokering the insurance arrangements for the broadening of the aquatic waterway.

The winning firm offered the lowest price in the bid carried out last week, in which five companies competed, the canal authority reported.

 close (x)

Receive more news about Business and Investment

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones

Software for banks, brokerage firms and financial institutions

Colombian company with more than 30 years in the market develops and offers IT solutions for Central American companies in the financial and banking sector.
Solutions for managing investment portfolios, investment...

Stock Indexes

(Jan 16)
Dow Jones
S&P 500


(Jan 17)
Brent Crude Oil
Coffee "C"