Marine
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February 8, 2024
IUMI says marine insurers committed to supporting Ukraine and Red Sea trade
The International Union of Marine Insurance (IUMI) has stated that the global marine insurance market is continuing to support trade…
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February 7, 2024
London market may be moving into softer territory, says Miller
As capacity chases income, the London market may be at the top of the “slippery slope into softer market territory”,…
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February 7, 2024
Tokio Marine HCC International adds Lavaretus Underwriting team
Tokio Marine HCC International (TMHCCI) has reached agreement with Marsh Specialty UK to ‘onboard’ certain employees of Lavaretus Underwriting, a…
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February 6, 2024
Red Sea shipping attack claims likely to be low, says Moody’s
The risk of multiple losses from ships operating in the Red Sea is “low” and “remote”, according to analysis of…
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February 5, 2024
New heads of marine and energy at SiriusPoint
Specialty insurer and reinsurer SiriusPoint has appointed Chris Fenn as head of marine, London and John Hopper as head of…
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February 2, 2024
Axis bullish on specialty lines despite reserve hit
Bermuda-based specialty insurer and reinsurer Axis Capital assured shareholders and policyholders that its underlying business is firmly on track despite…
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January 23, 2024
NorthStandard to open office in South Korea
Global marine insurance NorthStandard has announced plans to add to its Asian network by opening a new office in South…
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January 22, 2024
$3trn of trade at risk from Red Sea disruption
Data and analytics firm Russell Group has warned that headwinds are set to blow across the global economy because up…
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January 22, 2024
P&I club West covers launches piracy cover for high-risk waters
Protection and indemnity club West of England has launched a new piracy product for shipowners to manage the threat of…
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January 19, 2024
European marine underwriting business launched by Alta Signa Europe
MGA Alta Signa Europe has launched a European marine underwriting business, focusing on core marine lines of business, and backed…
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January 18, 2024
Underwriters insert UK, US and Israeli shipping exclusions for Red Sea transits
Underwriters are imposing exclusions on ships with links to the UK, UK or Israel continuing transit in the Red Sea,…
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January 17, 2024
Tankers divert as war risk premiums jump again for Red Sea route
War risk premiums for shipments through the Red Sea region have jumped to about 1% of the ship‘s value over…
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January 15, 2024
Companies not learning supply chain lessons as shipping disruption becomes the norm
Companies need to plan for repeated supply chains disruption as climate change and geopolitical threats increasingly affect critical shipping and…
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January 12, 2024
Supply chain delays from Red Sea shipping crisis halts Tesla production in Germany
US electric car manufacturer Tesla will suspend production at a German plant for two weeks because of delays to the…
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January 11, 2024
RSA and Brit launch $285m project cargo consortium
RSA Insurance and Brit have partnered to offer $285m capacity in the London market for global project cargo risks. Launching…
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January 10, 2024
Supply chain insurer Parsyl doubles capacity for Lloyd’s cargo consortium
Supply chain insurtech Parsyl has more than doubled capacity for its cargo consortium at Lloyd’s to $55m. The Essential Consortium,…
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January 9, 2024
MGA Alta Signa appoints pan-European underwriting team
European MGA Alta Signa has made several new appointments to establish a pan-European underwriting team, which it said will support…
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January 3, 2024
Maersk and Hapag-Lloyd again pull vessels from Red Sea route
A P Moller-Maersk has stopped its vessels from using the Red Sea cargo route to the Suez Canal “until further…
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January 2, 2024
Ryan Specialty to buy London-based MGU Castel from Arch
Ryan Specialty announced late last year that it has agreed to buy Castel Underwriting Agencies, a London-based managing general underwriting…
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January 1, 2024
International Group secures P&I rate reductions for all vessel types
The International Group (IG) of P&I Clubs, which secures liability pooling and reinsurance cover for the 12 P&I Clubs and…