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.
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
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
Rokstone launches Allianz-backed marine cargo facility
London-based facility builds on MGA's existing relationship with Allianz on North American marine business
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
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
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
Vessel Protect increases limits for hull and cargo war risk
Move comes after Howden’s recent launch of cargo facility for the Red Sea
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
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
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 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
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
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