The Bank of New York has been appointed to provide multi-currency cash processing services for The Britannia Steam Ship Insurance Association, one of the world’s largest mutual insurance associations for ship owners.
Tony Gosden, director of Tindall Riley Marine Limited, the managers of Britannia, said, “We selected The Bank of New York because we were impressed by its commitment to serve customers in the protection and indemnity (P&I) business and cost-effective proposal, which included a highly automated multi-currency and foreign exchange system.”
“We are a key banking provider to the P&I mutual marine sector, with a proven track record and sound knowledge of this speciality insurance segment. Britannia is a major player in this arena, and this mandate will allow us to help them continue to provide the high quality service that their members expect,” said Tim Keaney, executive vice president and Head of Europe at The Bank of New York.