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Marine reinsurance

Headwinds curb positive marine rating movement: Willis Re

5th July 2018

Abundant capital across the marine space and continued pressures from both attritional losses and 2017’s hurricane trio Harvey, Irma and Maria is curbing pressure for upwards rating movement, according to Willis Re in its latest 1st View report. Additionally, regional catastrophe loss experience and specialism-specific performance have influenced renewal terms in ... Read the full article

Lockton appoints Jerry Ridge as Global Head of Marine & Energy Reinsurance

2nd July 2018

Insurance broker Lockton has announced the appointment of Jerry Ridge as Global Head of Marine and Energy Reinsurance. Ridge brings 37 years’ reinsurance industry experience to his new role at Lockton, which will see him manage the company’s fast-growing international Marine and Energy business group. Most recently, Ridge served as Chairman of ... Read the full article

AmTrust exits marine underwriting at Lloyd’s after strategic review

25th June 2018

Insurer AmTrust is exiting its marine lines of underwriting business in order to focus on more profitable areas of its book, following a strategic review. With the Lloyd's marine book known to be under pressure and one of the lines of business that the market itself has been analysing in its ... Read the full article

International Group announces new reinsurance broking arrangements

13th June 2018

The International Group of Protection & Indemnity Clubs has restructured the broking arrangements for its General Excess Loss and Hydra reinsurance programmes following the completion of its previous tender process in June 2018. London-headquartered Miller Insurance Services has been appointed flag broker for both programmes with Aon Benfield set to serve ... Read the full article

Willis praises revolutionary Insurwave blockchain platform

5th June 2018

Insurance and reinsurance broker Willis Towers Watson has described the recently launched Insurwave, a blockchain platform to support marine hull insurance, as a "game changer", urging carriers and brokers to adopt the technology. In May 2018, EY, Guardtime, A.P. Møller-Maersk, Microsoft, Willis Towers Watson, XL Catlin, MS Amlin and ACORD announced that members of ... Read the full article

Markel expands marine team with new Senior Yacht Underwriter

1st May 2018

Markel International has expanded its marine team with the appointment of Debbie O’Sullivan as Senior Yacht Underwriter. O’Sullivan will join existing Senior Yacht Underwriter Mark Wimbridge and Assistant Yacht Underwriter Chris Lytton to form a team of three that handles Markel's global demand for large yacht risks. She will operate out of ... Read the full article

Markel adds new Assistant Marine Underwriter to Singapore office

19th April 2018

Specialist insurer and reinsurer Markel International has expanded the Marine Underwriting team in its Singapore office with the appointment of Wanshi Lin as Assistant Marine Underwriter. Lin will work closely with Marine Underwriter Gustaf Kristiansson to build Markel’s marine hull, liability, and cargo business in the Asia-Pacific region, and will report ... Read the full article

EY partners with InsurTech company Concirrus on AI-driven marine solutions

13th April 2018

EY has announced that it will collaborate with InsurTech company Concirrus to support the adoption of behavioural-based underwriting and risk management in marine insurance, using artificial intelligence (AI) powered software. The partnership is intended to help modernise the marine sector’s traditional demographic based underwriting models, which rely on data like the ... Read the full article

R&Q’s Accredited commences program underwriting partnership with American Team Managers

11th April 2018

R&Q Investment Holdings Ltd (R&Q) subsidiary, Accredited Surety & Casualty Company Inc (Accredited) has announced a new program underwriting partnership with American Team Managers (ATM), effective April 1st, 2018. Under the new partnership, Accredited will act as the insurer on behalf of ATM, an independently owned insurance MGA focused on providing cargo ... Read the full article

Validus Specialty and Eagle Ocean America collaborate on U.S vessel cover

23rd March 2018

Validus Specialty Underwriting Services has announced that its Marine & Upstream Energy re/insurance team will collaborate with Eagle Ocean America to provide a new range of U.S vessel operator cover. The partnership will allow Eagle Ocean America, which is a full-service insurance facility operated by Eagle Ocean Agencies, to offer new ... Read the full article

AFL Insurance Brokers appoints Alex Mott to lead new marine division

15th March 2018

Independent Lloyd’s broker AFL Insurance Brokers (AFL) has appointed Alex Mott to head up its newly launched commercial Marine division, as Director of Marine. Mott previously managed the Ed / CGNB Marine broking team as Head Broker. His career as a Lloyd’s broker and broking team manager has seen him specialise ... Read the full article

North P&I Club names Simon Main as new Technical Director

14th March 2018

The North of England Protecting and Indemnity Association (North P&I) has announced the appointment of Simon Main as Technical Director in support of the development of the North P&I and Sunderland Marine (SMI) businesses. Main’s appointment represents an important development in North P&I's plans for growth and diversification at a time ... Read the full article

Swiss Re backs innovative coral reef insurance solution

12th March 2018

Global reinsurance giant Swiss Re has supported the development of an innovative new parametric insurance solution designed to help the conservation of the Mesoamerican Reef, which includes protecting the coral reef and beach sand against the impacts of major hurricanes. The new insurance solution was announced at the 2018 World Ocean Summit ... Read the full article

LMA Marine Committee elects new members

9th March 2018

A recent ballot of Lloyd’s managing agents has elected three new members to Lloyd’s Market Association’s (LMA) Marine Committee, in addition to re-electing seven others. The committee will now welcome James McDonald, who serves as Global Head of Marine and Energy at Talbot, Richard Tomlin, who is currently Atrium’s Class Underwriter ... Read the full article

Skuld reveals 9.4% growth in 2018 P&I renewals

26th February 2018

Marine insurer Skuld has revealed a 9.4% net increase in mutual P&I gross tonnage from 2017 to 2018 following January renewals which completed on 20th February. Skuld's continued growth in the January renewals brings its mutual P&I tonnage to 92 million gross tonnes (GT), and includes committed tonnage for delivery throughout 2018. Ståle Hansen, ... Read the full article

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