RSA Insurance has announced that it is to expand its marine offering with the launch of a new superyacht practice, led by Emily Grew, who will join as a Senior Yacht Underwriter in July.
RSA states that superyacht ownership has grown significantly in recent years, with purchases of luxury vessels (longer than 30m) increasing by more than 8% in the first nine months of 2021, compared with the same period in 2019, according to an industry publication.
Emily Grew holds over a decade and a half of experience in insurance, the majority of this as a yacht specialist. She started her career in insurance broking and has worked for AIG, Miller Insurance Services, JLT Specialty and CRS Yachts.
Grew moved to Chubb in 2019 as a Yacht Underwriter and is currently a Senior Yacht Underwriter. During her time there, she was responsible for establishing and building out the company’s London Yacht Practice.
Calvin Gray, RSA Insurance London Market Marine Director, and to whom Grew will report said, “We continue to look for opportunities in the market where we can build pockets of lead or niche expertise, which can deliver a longer-term return for us as a business.
“The Superyacht market has been through significant remediation over the past four years, and this represents a good opportunity for us to enter the market.”
He continued, “Through our market and competitor analysis, we believe that with our global capability there is an opportunity to bring a lead offering to the market and build a unique proposition with technical capability and expertise at its core.
“I’m really pleased Emily has joined us to lead the new practice. Once we decided this was an area we were going to expand into, there was only one person we wanted to build our offering. Her expertise in this area is unrivalled and she has a great reputation in the market.”
