Reinsurance News
marine insurance
Pen Underwriting expands yacht hull capacity to support broader range of risks
2nd June 2026
Pen Underwriting, a specialist managing general agent (MGA) operating across multiple insurance classes and territories, has increased the yacht hull insurance capacity available through its marine division, raising limits by 50% to USD/EUR 15 million with immediate effect. The enhanced capacity is being delivered through Vessel Protect, Pen Underwriting’s specialist yacht ... Read the full article
Navium Marine and Overhaul introduce Helix Consortium for AI data server cargo cover
2nd June 2026
Navium Marine, a marine specialist managing general agent operating through The Fidelis Partnership’s (TFP) Pine Walk platform, has worked with Overhaul, a global provider of cargo risk management solutions, to develop an insurance offering focused on real-time monitoring of AI infrastructure cargo. The arrangement is supported within the Lloyd’s of London ... Read the full article
Strait of Hormuz disruption adds pressure to marine and specialty markets, says Howden Re
28th May 2026
Howden Re, the reinsurance arm of broking group Howden, has released analysis on the Strait of Hormuz situation, stating that while global reinsurance capacity remains solid, conditions are tightening across marine, energy and political violence lines as geopolitical instability in the region continues. The firm notes that these developments are influencing ... Read the full article
Shipowners urged to reassess war risk cover as claims expand beyond high-risk zones: The London P&I Club
17th April 2026
The London P&I Club, a provider of marine liability insurance, has advised shipowners and brokers to place greater emphasis on the scope of their war risk cover, rather than focusing primarily on price, as claims increasingly arise from incidents outside traditional high-risk zones. According to Ben McKeith, Senior Underwriter at the ... Read the full article
Beazley plans new Marine War insurance consortium to expand market capacity
16th April 2026
Beazley, a large specialist insurer, has announced plans to establish a new Marine War insurance consortium aimed at increasing available coverage within the market. The initiative is expected to provide up to $1 billion in Lloyd’s capacity, split evenly between Hull War and Cargo War risks. This offering is intended to ... Read the full article
Two-week Middle East ceasefire insufficient to shift risk pricing: Rudman, Aon
10th April 2026
Stephen Rudman, Head of Marine for Asia at global insurance and reinsurance broking group Aon, has said that a two-week ceasefire in the Middle East conflict is insufficient to materially alter risk pricing or an underwriting stance. On April 8, the United States, Iran and Israel agreed to a two-week ceasefire, ... Read the full article
Janus Assurance Re launches new marine cyber insurance programme
10th April 2026
Janus Assurance Re, a specialty insurer offering reinsurance solutions, has launched its Marine Cyber Insurance programme, a specialty risk transfer solution for shipowners, vessel managers, charterers, terminal operators, and maritime logistics firms. According to the insurer, the launch responds to converging governance signals across the maritime sector. Additionally, the programme aims to ... Read the full article
Optio strengthens marine capabilities with Gardian Marine acquisition
31st March 2026
Optio Group, the independent specialty MGA, has reached an agreement to acquire Gardian Marine Limited for an undisclosed amount, pending regulatory approval. Gardian Marine, headquartered in London and founded by Guy Tyler and Edward Morgan, provides specialist cover across marine builders’ risks, ship repairers’ liability, voyage and towage, along with a ... Read the full article
Safe Harbor Marinas selects Chubb as preferred insurance provider
27th March 2026
Chubb, a global property and casualty insurer, and Safe Harbor Marinas, the global leader in waterfront lifestyle, have entered into an exclusive partnership, with Chubb named the preferred insurance provider for Safe Harbor members. Safe Harbor is a U.S.‑based company and is the largest owner and operator of marinas in the ... Read the full article
Chaucer and Ceto partner to launch new marine MGA
24th March 2026
Global specialty re/insurance group Chaucer, and Ceto AI, a technology company specialising in predictive analytics for the maritime industry, have launched a new marine managing general agent (MGA), operating as a Lloyd’s coverholder. Under the agreement, Ceto is authorised to bind marine hull on behalf of Chaucer’s Lloyd’s syndicate, with additional ... Read the full article
Berkley Insurance Asia announces key leadership moves within its Marine team
23rd March 2026
Berkley Insurance Asia has announced the appointment of Kenneth Cheong as Head of Marine, Asia, taking over the role from Lee Ju-Ann, effective 1 April 2026. As part of the leadership developments within Berkley Insurance Asia Marine team, Lee Ju-Ann will be taking on a newly created Senior advisory and Talent ... Read the full article
QBE and Aurora launch fully automated underwriting for complex marine risks
20th March 2026
QBE, in partnership with Aurora, has introduced an integrated algorithmic underwriting system that functions entirely within the insurer’s existing governance, risk appetite, and operational procedures. Developed with QBE Ventures, this solution enables fully automated lead underwriting of complex specialty risks, a first in the industry. The technology is now operational for QBE’s ... Read the full article
Withdrawal of Persian Gulf war risk cover viewed as credit negative for exposed US marine insurers: Fitch
13th March 2026
Fitch Ratings, the international credit rating agency, said the withdrawal of hull war risk marine insurance coverage in the Persian Gulf is expected to be credit negative for US property and casualty insurers with significant exposure to Gulf shipping routes. Fitch notes that the move is likely to have broadly neutral ... Read the full article
Marine war risk market ‘operating as expected’ amid Middle East hostilities: IUA
11th March 2026
Chris Jones, Chief Executive of the International Underwriting Association (IUA), said members are continuing to provide cover for clients affected by the current hostilities involving Iran across several lines of business, adding that the marine war risk market is operating as expected, given the heightened threats to shipping. According to Jones, ... Read the full article
Gulf shipping tensions prompt war risk reassessment by marine insurers: IUMI
6th March 2026
War risk insurance for vessels transiting the Persian Gulf and Red Sea remains available, although insurers are reassessing their appetite for exposure as tensions in the Middle East disrupt shipping routes and threaten supply chains, according to the International Union of Marine Insurance (IUMI). The marine insurance body said war cover ... Read the full article
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