Reinsurance News
Marine reinsurance
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
SafeWaters grows marine offer with range of Aspen-backed products
16th February 2018
SafeWaters Underwriting Managers has expanded its marine offering to include Aspen Insurance-backed cargo, hull, machinery and marine liabilities cover. Jorge Pecci, President and Chief Executive Officer (CEO) of SafeWaters, said; “with the support of Pat Hickey and his team at Aspen, we are bringing the capacity and strong security of one ... Read the full article
Ryan Specialty acquires Lodestar Marine P&I MGA from Tawa
13th February 2018
Chicago-based Ryan Specialty Group LLC (RSG) has announced that it's agreed to acquire Lodestar Marine Ltd. from Tawa Associates Ltd. for an undisclosed fee. Lodestar is a London domiciled managing general agent (MGA) focused on the protection & indemnity (P&I) fixed premium marine sector, and under the transaction will become part ... Read the full article
XL Catlin promotes Mike MacColl to Global Practice Leader for Hull
6th February 2018
XL Catlin has promoted Mike MacColl from Head of Hull for the UK to the position of Global Practice Leader for Hull with immediate effect. Commenting, Rob McAdams, Chief Underwriting Officer for Global Marine at XL Catlin, said; “Mike has proven to be a hugely valuable member of the UK Marine ... Read the full article
Marine insurer Gard appoints Patrick Michael as New York office Managing Director
25th January 2018
Gard, a shipowner-controlled P&I marine and energy insurer, has named Patrick Michael Leahy as Managing Director of its New York office with effect from 1 August, 2018. He is set to replace Sandra Gluck who will be retiring. Michael re-joined Gard in March 2016 as a Senior Claims Executive in New York, having ... Read the full article
Willis Towers Watson names Patrick Murphy as Global Head of Cargo & Specie
10th January 2018
Willis Towers Watson has named Patrick Murphy, who joins from a role as Global Marine Practice Leader at Integro, as Global Head of Cargo and Specie within its Marine Corporate Risk and Broking Division. Murphy will lead client management, technical, placement and risk management specialists, supporting Willis Towers Watson marine clients in risk ... Read the full article
Beazley appoints underwriter within new U.S. marine platform
5th January 2018
Beazley has announced the appointment of John Moy has U.S. marine underwriter within its recently launched U.S. marine platform, reporting to Head of U.S. marine at Beazley, Steve Vivian. In his new role Moy will be responsible for underwriting and building the firm's U.S. hull, protection and indemnity (P&I) and ... Read the full article
Pioneer announces leader of new Ocean Marine division
2nd January 2018
Pioneer Underwriters has launched a new Ocean Marine underwriting division that will be led by Zach McAbee as Head of Ocean Marine. McAbee is based in Seattle and reports to Gene Hinman, Chief Executive Officer (CEO) of Pioneer’s U.S. operation. He brings over 20 years of ocean marine industry experience to the role, and was most ... Read the full article
International Group secures lower rates for 2018 reinsurance renewal
15th December 2017
For the fourth consecutive year, the International Group of Protection & Indemnity Clubs has secured reinsurance renewal premium reductions on the Group programme, after finalising its 2018/2019 General Excess of Loss (GXL) reinsurance contract and the Hydra reinsurance programmes. The Group has announced that in spite of uncertainty in the global insurance ... Read the full article
Skuld appoints Rachael Simpson to SVP of London P&I Operations
13th December 2017
Marine insurer Skuld has named Rachael Simpson as Senior Vice President (SVP) of London P&I Operations, with effect from March, 2018. Simpson will report to Matthew Burton, Head of London P&I, and will focus on business development throughout North America. Ståle Hansen, Skuld President and Chief Executive Officer (CEO), said; "The North American ... Read the full article
Beazley announces launch of U.S. marine insurance platform
1st December 2017
Specialist insurer Beazley has expanded into the U.S. marine sector with a new platform that offers hull, protection indemnity (P&I) and liability cover for the marine and marine construction sectors. These products will be offered on both an admitted and non-admitted basis and have been designed to complement large-scale risk coverage ... Read the full article
Navigators promotes Michael McKenna to Chief Underwriting Officer, U.S. Insurance
29th November 2017
Navigators has promoted Michael McKenna to Chief Underwriting Officer (CUO) for the U.S. Insurance segment, from his role as President of U.S. Marine. In the newly created role, McKenna will work with the U.S. Insurance divisional leaders to advance the growth and profitability of the segment's business, including expanding the portfolio into new ... Read the full article
UK P&I Club the latest to announce post-Brexit subsidiary plans
24th November 2017
Provider of P&I insurance and related services to the global shipping industry, UK P&I Club, has announced plans to establish a subsidiary in the Netherlands amidst continued uncertainty surrounding the UK's vote to leave the European Union (EU). The announcement comes shortly after North P&I Club and Sunderland Marine announced ... Read the full article
Claes Lindh to step down from Skuld’s exec management team
22nd November 2017
Provider of marine insurance solutions, Skuld, has announced that Claes Lindh will stand down from the company after ten years of service, effective January 1st, 2018. Lindh, a member of the firm's executive management team, formally steps down at the beginning of January, 2018, but will continue to work on a ... Read the full article
Hurricanes will place a brake on marine rate reductions: JLT
30th October 2017
Marine underwriters, excluding the yacht market, were largely spared a heavy Hurricane Harvey and Irma impact, but their reliance on the same pool of investment and reinsurance will likely have put a brake on the rate reductions experienced in the last years, according to JLT's recent energy market report. “Although there are now ... Read the full article
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