
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.

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

Dale to enter marine treaty market
Lloyd's insurer swoops on MS Amlin for senior hires

Aon expands global yacht practice
Global broker hires small yacht and pleasure craft specialist

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

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

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

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

Howden launches London market cargo trading platform
Broker binds first risk on platform, which is backed by a panel of 20 insurers

Skuld extends run of technical deficits with $30m loss
Negative investment return pushes Norwegian club into the red on both underwriting and overall outcomes

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’

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

Offshore energy and shipping warned of climate change threat
Sectors face a ‘material change’ in risk exposures, Chaucer warns
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