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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

Insurers face up to $300m in North Sea collision losses: Morningstar DBRS

Incident is likely to trigger multiple insurance policies, including those for hull and machinery, liability, marine cargo and protection and indemnity

United Kingdom Marine

EU entities on hook for non-EU subsidiaries’ Russia sanctions compliance

Shipowners and insurers face lexical challenge of defining ‘strictly necessary’ and ‘best efforts’ under 16th round of regulations

Europe Russian Federation

Allianz and Navium lead hull insurance on North Sea collision vessels

Stena Immaculate entered with Steamship and Solong with Skuld, clubs confirm

Europe London

London Club makes up tonnage lost during past five years

Stabilisation phase complete and marine mutual moving on to consolidation and rebuilding stage, new chief executive says

London International

UK Club brings Athens director back to London

Marine mutual expects expanded market share, but predicts underwriting deficit for seventh year in succession

London Greece

Optio acquires Norwegian marine MGA

Acquisition of S Insurance will complement Optio’s existing marine business

Norway Specialty

Ports and terminals sector entices new entrants

Navium, IQUW and Volt attracted to niche that is now making money, while Pen Underwriting’s BBM expands in North America

North America London

Import tariffs will mean higher cargo premiums

Correlation could substantially top one-to-one in worst cases, underwriters say

International Specialty

P&I clubs only got two-thirds of headline rate hikes, brokers claim

Tardiness in issuing renewal documentation ‘particularly egregious’ in some cases, Lockton PL Ferrari argues

International Specialty

Markel appoints Johnson as transport and logistics senior underwriter

Johnson joins from Travelers Syndicate Management where he was ports and terminals underwriter

London Specialty

Regulation tops worries for transport sector

Geopolitical disputes prompt concerns about business disruption, WTW survey finds

North America International

NorthStandard and Gard declare 10m-plus gross tonne gains in entries

Protection and indemnity clubs doing well, brokers contend

International Specialty
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