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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.


Princess Empress clean-up costs likely to hit IOPC Funds threshold

Claims submission office opened in Philippines working with P&I provider Shipowners’ Club

Philippines Marine

Richard Turner quits Victor for job at West of England

High-profile former Iumi president jumps ship in switch to protection and indemnity

United Kingdom Marine

London marine market ‘losing on competence’

While the London market has ample capacity, other markets such as Norway are seen to have a competitive advantage in terms of technical skills

London Lloyds

Shipowners ‘forgot’ how war risk insurance works

Industry memories of Iran-Iraq conflict faded, and cancellation of standard policies and hefty additional premiums came as an unpleasant shock

Europe Ukraine War

P&I clubs debate advantages of scale

Size confers advantages, particularly in the ability to handle large claims and even out volatility, but mergers may not suit every entity in International Group, conference hears

London International

Lloyd’s 2022: Marine, aviation and transport profits fall

Underwriting profit drops 28% to £280m, despite sharp rate rises following the war in Ukraine

London Lloyds

Gard cuts combined ratio to 81%

Norway-based protection and indemnity club reports best technical performance in more than a decade

International Norway

Underwriters and P&I clubs agree guidelines on marine casualties

New guidance outlines how underwriters and P&I clubs should communicate with each other and what information needs to be shared in the handling of shipping casualties

London Lloyds

Axa XL shakes up Americas marine insurance team

Carrier appoints Brett Musser as head of marine liabilities and Ken Mueller as head of inland marine

North America Axa

Steamship Mutual ‘not particularly interested’ in hull market or merger

Club doing well providing traditional P&I and associated covers, outgoing chief executive says

United Kingdom Marine

P&I chiefs differ over merits of hull and machinery move

Scandinavian clubs have blurred the line between the International Group and the Lloyd’s market. But should British clubs follow their lead?

International Gard

Bermuda orders wind-up of British Steamship P&I Association unit

Protection and indemnity provider wound up by the Supreme Court of Bermuda following 'extensive and longstanding breaches' of the Insurance Act

Bermuda Marine
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