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.
US inland marine post strong profits in 2025
Sector outperforms wider P&C market with 76.2% combined ratio
Banyan Risk launches inland marine and marine property line
Bermuda-based MGA continues product expansion strategy with Accredited-backed line
Baltimore claims 'may bust pool scheme upper limit’
Payouts could top the $3.35bn upper limit on the International Group pool scheme, Lockton warns
Blanket exclusion for Saudi-linked tonnage under new Red Sea charterers’ buyback
International Group P&I clubs buyback cover for Red Sea voyages after reinsurers withdrew support for ancillary war risk products
Risks reshaping P&I insurance on the road to 2027
There are six main risks currently impacting decision-making in the protection & indemnity sector
Reinsurers impose second round of war risk cancellations on P&I clubs
Marine mutuals set to put buybacks in place by Sunday
Significant test following the Insurance Act 2015 goes insurers’ way
Decision is one of the most significant recent judgments concerning the duty of fair presentation since the Insurance Act 2015 came into law
War risk is not for the faint-hearted
Simon Lockwood, the head of shipowners at Willis Marine GB, describes the warning signs of inexperience among war insurers
Gulf conflict costs marine insurers $2bn to date
Marine insurers have incurred an estimated $1.5bn-$2bn in claims from about 70 casualties linked to the Middle East Gulf conflict, according to IUMI director general Lars Lange
Blenheim launches marine new-build delivery failure product
White Bear-owned managing general agent expands marine specialty risks portfolio
UK Club makes Korea move
Jeong-Sook Kim takes responsibility for market in the Asian country
IUMI nominates Dalton as next president
Munich Re’s head of marine underwriting is the sole candidate to succeed Frédéric Denèfle as IUMI president
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