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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

West of England blames pool scheme for COR overshoot

Marine mutual makes underwriting loss for past financial year as combined ratio rises to 104%

United Kingdom Specialty

Marine insurers underwrite Russia tanker calls after crude prices fall below cap

Shipowners more confident about doing such fixtures without risk of inaccurate attestations, P&I club lawyer says

Russian Federation Specialty

SiriusPoint appoints Fenn global marine head

Re/insurer looks to expand cargo, fine art and specie, ports and terminal, and marine liability business in London

London Specialty

QRG launches European operation

Lloyd’s broker hires veteran marine specialist Ted Zaimis as director for Greece

Europe Greece

Singapore High Court decision provides case law on Insurance Act wording

Ruling establishes meaning of ‘term defining the risk as a whole’ under section 11 of 2015 legislation

Asia Pacific Specialty

Danish shipowners endorse plan for state-backed hull war risk insurer

Fallback mechanism would kick in if commercial market collapses

Denmark Specialty

Asian piracy jumps almost 50% in first quarter

Crews should step up security rounds and heighten watchkeeping, piracy watchdog warns

Asia Pacific Specialty

Yemen sanctions breaches void P&I cover: International Group

Stringent due diligence needed, insurers warn, after three vessels blacklisted

Yemen Specialty

Aon expands marine expertise with Atlas acquisition

Global broker acquires Israeli marine and cargo specialist Atlas Insurance Agency

Israel Broker

Tankers cheaper to insure than a year ago but bulk premiums up fractionally

Baltic Investor Indices data inconclusive on claims hull pricing is falling

International Specialty

Marine MGA Amphitrite increases war capacity

Managing general agent adds $40m of Lloyd’s capacity to support growth

Lloyds Marine

Markel to buy fixed-premium provider MECO

Acquisition strengthens specialty insurer’s footprint in marine

Distribution Marine
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