Marine
Zurich promotes Davies to lead global marine underwriting
Zurich has appointed Mike Davies as global head of marine underwriting.
Barbican acquires marine broker
Barbican has acquired UK-based marine insurance broker Seacurus.
Piracy on the rise in West Africa
Piracy attacks on the West African coast are now more frequent than Somali piracy, a report by the International Maritime Bureau and other organisations said.
QBE targets Malaysia with marine insurance product
QBE Asia and P&I specialist British Marine have launched a marine product up to $500m liability.
Hong Kong's marine challenge
Hong Kong’s marine insurance industry is facing a growing challenge from its regional rivals. Nicky Burridge investigates why.
Hellenic P&I club waives 50% of annual premium
Members of the Hellenic War Risks Club will pay 50% less for war risks insurance in 2013 following a decision by club directors to waive the second installment of the annual premium.
Aon France director joins Miller
Aon France has lost its head of political risks, Arnaud Froideval, to Miller where he has joined the marine team.
Jolly Nero owner not expected to make hull claim
Indications that the owner of Jolly Nero, the ship that crashed into the port in Genoa a fortnight ago, does not expect to make a hull and machinery claim has come as a surprise to the market.
London P&I Club reports boosted reserves after “mixed” year
The London P&I Club saw reserves increase after generating a surplus of $9.4m across all classes in the financial year 2012/13.
Marine: Tidal waves
Still reeling from recent huge losses, marine insurers cannot increase rates due to over-capacity – but is the outlook for the sector as negative as it seems?
Top 5 European stories
The top five stories from www.insuranceinsight.com over the past seven days.
RSA on the hook for Genoa ship loss
RSA is on the hull cover for The Jolly Nero, the Messina Line ship that crashed into a port tower in Genoa, Italy last month, Insurance Insight can reveal.
Amlin announces Antwerp redundancies
Amlin Europe has announced “a small number” of redundancies at its Antwerp office.
Top five European news stories
The top five news stories from www.insuranceinsight.com
UK P&I Club closes year with 104% COR
One of the oldest providers of mutual liability insurance to ship owners, UK P&I Club, has closed its financial year with a surplus of $9.5m increase in fee reserves to $494m (2011: 409m) and a combined ratio of 104% (2011: 98%).
Catlin reports 12% GWP hike in cat-free quarter
Catlin has reported a 12% increase in gross written premium to $1.84m in the first quarter of the year compared to the same period in 2012 (Q1 2012: $1.64m).
Engine failure suspected in Genoa ship crash
Early indications suggest that the ship which crashed into a control tower at Genoa’s port yesterday may have suffered an engine failure.
Kennedys swoops for Norton Rose marine specialist
Law firm Kennedys has continued its recent hiring spree with the recruitment of David McKie from Norton Rose.
Container ship hits port in Genoa killing seven
A container ship crashed into the Italian port of Genoa late on 7 May killing seven people.
HKFI urges Hong Kong to attract more marine trade
The Hong Kong Federation of Insurers has released a report into how to make its international maritime centre more competitive through tax incentives.
Dock workers in Hong Kong end strike
A 40-day strike in Hong Kong has ended with dock workers agreeing a pay increase of 9.8%.
Arc Legal secures two marine LEI broker schemes
Arc Legal Assistance has secured a series of new deals with specialist boat insurance brokers to provide Marine Legal Expenses Insurance.
Ex-Zurich underwriting boss Meyrick joins XL marine team
XL Group has appointed Lee Meyrick as chief underwriting officer for global marine and offshore energy.
Master programs: A complex world
Companies are expanding from West to East, and from East to West; risks are rising and regulations becoming more complex. Andrew Tjaardstra discovers some of the key considerations that should be taken into account when arranging a global insurance…