Marine
End of marine market cycles, suggests Munich Re's Berg
Dieter Berg, executive general manager at Munich Re, believes the traditional marine market cycle might be over as premiums decline in a prolonged soft market.
Man remanded in custody after Liverpool bomb scare in insurer's office
Merseyside Police on Friday (8 January) arrested a man who entered the premises of Munich Re subsidiary Groves, John & Westrup carrying a "suspect package".
Fresh direction for Norwegian Hull Club as new CEO takes the reins
Marine insurer Norwegian Hull Club’s new CEO Faz Peermohamed will review the club’s offering in a bid to identify new opportunities.
New structure in marine management at RSA
RSA has created three new roles on its marine management team and announced several other new appointments.
P&I clubs to face premium pressure in 2016
Protection and indemnity insurance will face premium pressure at 1 January 2016 renewals, according to analysis from Willis Group.
The Standard Syndicate increases reach Scandinavia
The Standard Syndicate 1884 has extended its distribution into Scandinavia, appointing Hydor AS as a Lloyd’s coverholder.
Lockton grows marine presence with Italian and Singaporean investments
Broker Lockton has expanded its marine and protection and indemnity business by acquiring Genoa-headquartered Italian broker PL Ferrari & Co.
Watkins Syndicate to rename as Munich Re
From 1 January 2016 Watkins Syndicate 457 in addition to its managing agent Munich Re Underwriting will be renamed Munich Re Syndicate.
Analysis: The explosive risks of mis-declared cargo
The explosions at China's Tianjin Port on 12 August brought home the fatal consequences of improperly storing dangerous cargo.
ATL plots energy market gains after swooping for JLT team
Independent Lloyd’s broker ATL Marine & Energy has appointed a senior team of specialist energy brokers from JLT in a bid to drive the growth of its energy account in Europe and Latin America.
Novae CEO Fosh confident for Q4 despite softening market
Novae Group CEO Matthew Fosh believes the specialist Lloyd’s player is “well positioned” for the final quarter, despite a softening rating environment, after achieving a 20.3% uptick in gross written premiums over the opening nine months of 2015.
Aspen recruits from XL Catlin for Lloyd's Singapore platform
Aspen Insurance will become the latest syndicate to join the Lloyd's Asia platform.
Shipowners’ Club records improved COR at half year stage
Marine mutual insurer The Shipowners’ Club has delivered an improved half year combined ratio of 87% to August this year (2014: 95.5%), with a small underwriting surplus of $12.9m (£8.4m) on the 2015 policy year (2014: $4.6m).
Asta granted 'in principle' approval for £46m GWP Skuld syndicate
Asta Managing Agency has been granted 'in principle' approval from Lloyd's to set-up special purpose syndicate 6126 that has planned gross written premiums of £46m for 2016.
Argo Global hires marine leader in China
Lloyd's syndicate Argo Global has hired Willis China's former head of trade and logistics Yan Jun as its China marine underwriting manager.
Hong Kong broker Latitude completes MBO from CGSC
Hong Kong-based marine insurance specialist Latitude Brokers has confirmed the management buyout of its shareholding previously owned by Cooper Gay Swett & Crawford.
Lloyd's broker ATL eyes team and client captures following rebrand
The business formerly known as Atlantic (UK) Brokers is making a concerted push into the energy market after rebranding at ATL Marine & Energy.
Europe: Can insurers navigate the Arctic waters?
Insurers have traditionally been reluctant to underwrite Arctic shipping: the risks of injuries and pollution have been high and unpredictable.
Tianjin is a "wake-up call" to cargo insurers, says IUMI cargo chairman
Nick Derrick, chairman of the International Union of Marine Insurance cargo committee, told this year's conference the explosions in Tianjin on 12 August are a "substantial wake-up call."
Shipowners' Club agrees delegated authority arrangement with Swedish underwriter
The Shipowners' Club has entered into a strategic partnership with Swedish marine underwriting agency Svensk Assurans to offer a P&I product through a delegated underwriting agreement.
Aon Benfield and RMS develop marine and energy model
Aon Benfield has invested in a catastrophe model to help marine and energy insurers assess their cargo risks more accurately, in conjunction with model vendor RMS.
Benign claims period leads to Skuld's £5.8m six-month result
Marine insurer Skuld has reported a $9m (£5.8m) half-year result and a combined operating ratio of 95%.
UK P&I club calls for 'zero tolerance culture' on enclosed space entry as casualties blight shipping industry
Accidents relating to entry into enclosed spaces have resulted in a large number of deaths of both ship and shore personnel so far this year, says the UK P&I Club, calling for more to be done to prevent these casualties.
Iran sanctions removal may present early opportunity for EU insurance firms
Non-US owned insurance companies may look to steal a march on their competitors if sanctions prohibiting trading with Iran are not lifted simultaneously by all countries.