Danish shipping firm Maersk sets up captive insurer

Denmark-based A.P. Moller–Maersk Group has set up a captive insurer in order to manage its risks, reported The Copenhagen Post, citing Berlingske.

Maersk can now save around 600 million Danish kroner ($99.9 million) per year and reduce insurance costs by a third.

"We have a great balance, so we absorb a lot of risk on our own," Maersk's insurance and risk management head Lars Henneberg said.

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