Discipline pivotal for marine lines in 2026: Liberty’s Hicks
LSM’s Christopher Hicks says there are concerns some of the new capacity entering the marine sector lacks the ‘benefit of the data that big, long-established insurers have’
It is important to consider the longevity of capital entering the market, Christopher Hicks, head of marine, UK and Mena, at Liberty Specialty Markets argues
Market discipline will be pivotal for marine lines as capacity continues to enter the market, a senior market figure has told the Insurance Day Podcast.
Christopher Hicks, head of marine for the UK and the Middle East and north Africa region at Liberty Specialty Markets, said capital is coming into the market from a number of different players including both traditional carriers and “new-new” capacity from managing general agents.
A growing number of “fast-follow” facilities were also bringing capacity into the market and while some of this capital was long term, some of it would also be “very short term” and “very disruptive” for the market, Hick said.
Speaking on the latest edition of the Insurance Day Podcast, Hicks said it was important to consider the longevity of capital entering the market.
He added there were concerns some of this new capacity lacked the “benefit of the data that big, long-established insurers have”.
He continued: “The benefit of that means you are pricing and making that more sustainable. That kind of thing does worry me – not just the impact on my business but from the impact on the wider market and on clients and the impact of volatility on pricing, which can be unsettling for everyone.”
Hicks also discussed the impact of geopolitical uncertainty on the marine markets, how the industry is embracing transition risk and gave his outlook on the challenges and opportunities for 2026.
