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.
Uninsured shadow fleet vessels are a growing concern for insurers
The increasing threat of collisions involving dark fleet vessels is becoming a serious issue for marine insurers, legal experts and underwriters say. Concerted action is needed
West confident on beating last year’s underwriting performance
Marine mutual happy to take things slow with hull and war books, chief executive Bowsher says
London and Skuld join lengthening list of growing P&I clubs
Multiple marine mutuals proclaim business wins following 2026 renewal season
Trio of P&I clubs clock up growth in entered tonnage
This year’s P&I renewal round takes place amid heightened geopolitical risk, regulatory complexity and continued volatility across global shipping markets
Skuld emerges as ‘big winner’ in 2026 P&I renewals
International Group results bolstered by ‘comfort blanket’ investment returns and markedly fewer pool claims
Gard portfolio surpasses 300m gross tonnes
Marine mutual announces successful P&I renewal season with ‘high retention and substantial levels of new committed tonnage’
Nordic Plan war risk policies may not protect ships against state seizure
Heroic Idun decision based on ‘legacy conception’ of international relations, leading lawyer argues
Venezuela sanctions breaches invalidate P&I cover, Skuld warns
Rules give insurer right to terminate policy where shipowners put club at risk of adverse state action
Lloyd’s Register backs claims of surge in off-spec marine fuels
Comments come after recent similar findings from VPS Veritas, but marine insurers divided over claims frequency trends
Russia crude ban would cost marine underwriters hundreds of millions of dollars
EU measures likely to shut down the trade in most cases, as legal profession mulls scope for lawful workarounds
UK P&I Club maintains $500m war risks P&I limit
2026 renewal preserves existing war risks limits alongside exclusions relating to Russia, Ukraine and Belarus
Shadow fleet vessels raise insurance coverage concerns
The recent seizures of shadow fleet vessels have both legal and geopolitical consequences with significant environmental, navigational and insurance risks
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