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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

Markel remains committed to Black Sea and Red Sea hull and cargo war markets

Lloyd’s insurer will stay course even where rivals pull out after reinsurance jitters, its director of marine says

London Lloyds

Re/insurers indicate manageable Baltimore bridge losses

The Francis Scott Key Bridge incident likely to be the largest marine loss in history, but re/insurers are guiding to losses from the Baltimore bridge collapse being within expectations

North America Reinsurance

Rokstone launches Allianz-backed marine cargo facility

London-based facility builds on MGA's existing relationship with Allianz on North American marine business

London Allianz

IGI 'excited' by reinsurance opportunities: Jabsheh

Waleed Jabsheh says International General Insurance hopes to get ‘sliver’ of Lloyd’s business as new box opens for business

Bermuda Lloyds

Baltimore bridge incident may top pool scheme coverage limit, Gallagher warns

Bridge collapse shaping up as most expensive marine loss ever, easily exceeding Costa Concordia and Ever Given, broker says

United States Marine

RenRe eyes specialty growth opportunities after Baltimore bridge collapse

Bermuda-based carrier says collapse of Francis Scott Key Bridge will contribute to ‘further dislocation’ in specialty reinsurance market

RenaissanceRe Bermuda

Vessel Protect increases limits for hull and cargo war risk

Move comes after Howden’s recent launch of cargo facility for the Red Sea

Yemen Ukraine

Tankers clock up steepest rise in marine insurance costs

Data from Baltic Investor Indices points to broadly steady market for past four quarters, but limited increases for some vessel types

International Specialty

Shipowners’ Club holds steady at 2024 renewal

Breakeven underwriting result and ‘excellent’ investment return means marine mutual is in ‘very good health’, insists chief executive, Simon Peacock

International London

The insurance industry should keep an eye on Red Sea attacks

While the Houthi attacks in the Red Sea are being managed there is a real risk to the global supply chain

Middle East and Africa Legal focus

Middle East tensions fail to move dial on war risk rates

MSC Aries hijack and Iranian missile onslaught see little impact on Red Sea premiums and small hardening on Gulf trips

Middle East and Africa Iran

Dual acquires Swiss Re’s Genoa-based marine team

Managing general agent expands its European marine business, adding to operations in Italy and the Netherland 

Europe Swiss Re
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