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 hull pricing to remain flat: Miller
The market has found a ‘fragile equilibrium’ of profitability, but the broker warned coverage and wording around Russia and Ukraine remained an issue
AGCS names Graham head of marine for London and Nordics
Specialist insurer hires Chaucer's head of marine global Philip Graham
Confirmed P&I renewals 'only at halfway mark' with just three weeks to go
Brokers report pushback from owners with good records ready to accept higher retentions, while complications surrounding Ukraine exclusions slow documentation process
McGill adds ports and terminals to its marine line
Broker appoints Tysers' Julien Hubbard to lead new team as it looks to grow logistics and transportation book
Former Swedish Club intern returns as top executive
Thomas Nordberg pledges to strengthen financial position after S&P downgrade, and may look for alliances and partnerships with rivals
Hull portfolios 'well behind decarbonisation trajectories'
First annual disclosure report from the Poseidon Principles for Marine Insurance finds signatory portfolios 12% above where they should be to meet the IMO targets
Axa XL retreats on aviation war cover
Company has also started to cut back writing marine war cover, according to Reuters
Maersk to switch from NorthStandard to Skuld
Brokers report ‘mad’ few days of P&I renewals, with large slice of market yet to receive offers traditionally sent out by January 20
NorthStandard merger 'now unstoppable'
The chief executives of the first two P&I clubs ever to merge as equals discuss what happens next, including difficult staff choices, IT and legal structure headaches and strategy as combined entity
Pool scheme reinsurance levy set to increase for most vessel types
International Group publishes details of this year’s premiums for general excess-of-loss contract, chargeable to shipowners on top of standard P&I premiums
Axa XL strengthens Americas marine business
Jonathan Lacorazza joins from CNA as head of hull in trio of appointments
Piracy at lowest level in almost three decades: IMB
Big improvements in Gulf of Guinea and noticeable decline in Central and Southern America, but Singapore Strait remains cause for concern, according to the International Maritime Bureau
You must sign in to use this functionality
Authentication.SignIn.HeadSignInHeader
Email Article
All set! This article has been sent to my@email.address.
All fields are required. For multiple recipients, separate email addresses with a semicolon.
Please Note: Only individuals with an active subscription will be able to access the full article. All other readers will be directed to the abstract and would need to subscribe.