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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

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

International Marine

AGCS names Graham head of marine for London and Nordics

Specialist insurer hires Chaucer's head of marine global Philip Graham

Europe London

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

International Marine

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

London Marine

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

Sweden Marine

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

International Marine

Axa XL retreats on aviation war cover

Company has also started to cut back writing marine war cover, according to Reuters

International Aviation

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

International Marine

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

United Kingdom Marine

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

International Marine

Axa XL strengthens Americas marine business

Jonathan Lacorazza joins from CNA as head of hull in trio of appointments

United States Axa

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

International Marine
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