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Marine reinsurance

Louise Nevill joins Marsh JLT Specialty as CEO, UK Marine & Cargo

29th October 2019

Global re/insurance broker Marsh has announced the appointment of Louise Nevill as Chief Executive Officer (CEO) of Marsh JLT Specialty’s UK Marine & Cargo business. Nevill is due to join the firm early next year, arriving from Gard (UK) Ltd, where she has led the marine underwriting team as Vice President. She ... Read the full article

North P&I enters fixed premium market

14th October 2019

UK-based marine mutual liability re/insurer North P&I Club has entered the fixed premium business for smaller vessels up to 10,000 gross tonnage. Deployed under the Sunderland Marine trading name, the products’ policies will be secured by North, with certificates, blue cards and guarantees issued by North. “Diversification is a significant feature of ... Read the full article

Marine market is still adjusting to ongoing Lloyd’s efforts: Marsh JLT Specialty

10th October 2019

The Marine market continues to adjust to the efforts of the Lloyd's of London market to improve profitability, and as dedicated marine syndicates continue to close, Marsh JLT Specialty has questioned what is at stake should pricing remain at current levels. In response to falling profits driven in part by underperforming ... Read the full article

PCS to improve granularity on marine & energy loss estimates

9th September 2019

Property Claim Services (PCS), a division of Verisk that collects and aggregates the re/insurance industry loss data, has announced that it plans to offer greater granularity for estimates reported under its Global Marine and Energy platform. From November 1, 2019, PCS will report industry loss estimates for new qualifying loss events ... Read the full article

Hiscox develops new coverage for ships seized by foreign governments

23rd July 2019

Hiscox, the specialist global insurer, has developed a new insurance product that provides coverage for ships seized by a foreign government. The product, called Malicious Vessel Seizure, will provide Loss of Hire costs and the services of Control Risks, a crisis management consultancy. The announcement follows the seizure of a British-flagged ... Read the full article

Iran tanker seizure could negatively impact premiums, says DWF

22nd July 2019

The recent seizure of a British-flagged oil tanker by Iran in the Persian Gulf could have a knock-on effect on global fuel prices and insurance premiums, according to analysts at global law firm DWF. The Stena Impero was captured by the Iranian Revolutionary Guard on Friday as it passed through a ... Read the full article

Liberty Mutual Re announces Marine & Energy hire from AXA ART

20th June 2019

Liberty Mutual Reinsurance, the reinsurance unit of Liberty Specialty Markets, has announced the appointment of Jens Voges as Senior Underwriter and Product Leader for Marine & Energy within its London Market Risk (LMR) team. Voges joins Liberty Mutual Re from AXA ART Insurance, where he has served as Senior Reinsurance Specialist ... Read the full article

Lloyd’s performance review to drive better marine energy results: analysts

18th April 2019

The intervention of the Lloyd’s Performance Management Directorate is expected to support better underwriting results for marine energy classes throughout 2019, according to analysts at Lloyd & Partners. The firm noted in its April 2019 quarterly energy newsletter that the performance review was not a one off event, with all syndicates ... Read the full article

Aon partners with software firm Skytek on marine risk accumulations

5th March 2019

Insurance and reinsurance broker Aon plc has partnered with software firm Skytek to provide real-time monitoring of re/insurers’ marine risks and to identify accumulations for enhanced underwriting and reinsurance programs. As part of the collaboration, Aon has established a new consultancy based on the Skytek system that uses real-time satellite tracking ... Read the full article

TT Club appoints Andrew Peers as Senior Underwriter

14th February 2019

TT Club, a provider of insurance and risk management services for the international transport and logistics industry, has appointed Andrew Peers as Senior Underwriting for its UK, Benelux and Nordic underwriting team. Peers joins the Club from RSA, where he has spent the last 17 years, most recently leading a team ... Read the full article

Pioneer hires Corton from Pembroke as cargo underwriter

13th February 2019

Pioneer Underwriters (Pioneer), part of Minova Insurance Holdings Ltd., has announced the hiring of Andrew Corton as a project cargo underwriter. Corton joins Pioneer as of March 1st from his most recent role with Pembroke Managing Agency where he held the role of divisional director for cargo underwriting business. At Pioneer, Corton ... Read the full article

London marine energy market “chaotic” but hardening: JLT

15th January 2019

The London marine energy re/insurance market continues to exhibit “chaotic and undisciplined” underwriting practices but finally seems to be emerging from a prolonged period of softening rates, according to analysts at JLT. The firm’s latest quarterly energy report observed that the predominately younger workforce in the London and Lloyd’s markets has ... Read the full article

Gard renews P&I reinsurance for 2019 through the International Group

14th January 2019

Gard, a shipowner-controlled protection and indemnity (P&I) marine and energy insurer, has outlined the terms of its 2019 reinsurance program, which it arranged through the International Group of P&I Clubs (IGP&I). The structure of the cover reinsured through the pool includes club retention of $10 million, general excess loss cover of ... Read the full article

International Group of P&I Clubs reduces reinsurance costs in 2019 renewal

19th December 2018

The International Group of P&I Clubs (IGP&I), a provider of protection and indemnity (P&I) insurance to the global shipping industry, has renewed its reinsurance program for the 2019/20 year with rate reductions across all of its vessel categories. The $3.1 billion reinsurance program included a number of changes to its structure ... Read the full article

RKH appoints JLT Re’s Julian Franzman as Asia Pacific marine head

29th November 2018

RKH Specialty, part of the Hyperion Insurance Group, has appointed Julian Franzman as Head of Marine Cargo, Hull and Liabilities for Asia Pacific. Franzman has over 30 years’ marine re/insurance experience and since 1997 has worked across the Asia Pacific region. He joins from JLT Re Asia Pacific, where he was Managing ... Read the full article

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