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Marine Insurance

Marine insurance is experiencing a period of rapid change, with a prolonged struggle to deliver underwriting profit forcing companies to reevaluate their proposition and the need to modernise. The class of business on which Lloyd’s was founded, the marine market is now navigating through a transitional period as it embraces technological reform and looks to rebuild its profit margin against a challenging operational backdrop.

Marine

West sees exodus after ditching riskiest vessels

Outlook for P&I sector remains challenging on account of record pool claims, ongoing pandemic, surging inflation and rate erosion, marine mutual warns

United Kingdom Marine

Dale to enter marine treaty market

Lloyd's insurer swoops on MS Amlin for senior hires

Marine Lloyds

Aon expands global yacht practice

Global broker hires small yacht and pleasure craft specialist

London Aon

Marsh upbeat on North-Standard merger

Reduced volatility will mean more stable technical results and thus more competitive pricing if deal goes ahead, broker says

International Marine

Gard chief rejects Scandinavian ‘super-club’ idea

Current premium levels put world’s biggest marine mutual in ‘good place’ on pricing, but pool claims, inflation and Ukraine will generate pressure at next renewal round, Rolf Thore Roppestad says

International Marine

Gard becomes first P&I club to top $1bn premium income

Strong results from fixed-price P&I, marine and energy lead to robust profit, as chief executive says pricing is now at right level after successive rate hikes

International Marine

Total shipping losses continue downwards trend

Progress reflects increased focus on safety measures over time, through training and safety programmes, improved ship design, technology and regulation, Allianz says

International Marine

Howden launches London market cargo trading platform

Broker binds first risk on platform, which is backed by a panel of 20 insurers

London Marine

Skuld extends run of technical deficits with $30m loss

Negative investment return pushes Norwegian club into the red on both underwriting and overall outcomes

International Marine

P&I consolidation 'could derail International Group and take down pool scheme'

Impending merger may kick-start process that puts power in the hands of largest owners, according to Gallagher, as North and Standard says broker is ‘out of step with the maritime world’

International Marine

North-Standard merger 'to bring significant expense ratio cut'

Members told long-term savings through eliminating duplicated costs will make up three percentage points of the gain. There will also be increased purchasing power and ability to increase retention levels could cut the cost of reinsurance

International Marine

Offshore energy and shipping warned of climate change threat

Sectors face a ‘material change’ in risk exposures, Chaucer warns

Marine Energy
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