Zurich UK sells marine insurer N&G to Ardonagh-owned MGAGeo Underwriting, part of Ardonagh Advisory, has agreed to acquire the Navigators & General brand from Zurich UK.
Hull and machinery reaches “tipping point” as slight softening begins: Gallagher’s InghamThe marine hull and machinery market has reached a “tipping point” with rates starting to soften slightly and low single-digit reductions becoming more commonplace, according to Gallagher’s marine executive director Michael Ingham.
Insurwave partners with Ambrey on strategic maritime offeringSoftware-as-a-service insurtech platform Insurwave has agreed a strategic partnership with maritime security risk management firm Ambrey.
Oil spill from sunk Terra Nova threatens Philippines’ capitalManila is under threat from an oil spill from the tanker Terra Nova, which sank off the Philippine coast last week in severe weather partly caused by Typhoon Gaemi.
AIG names BHSI’s Zilberud APAC head of marineAIG has appointed Berkshire Hathaway Specialty Insurance’s Dimitry Zilberud as head of marine for Asia Pacific.
Marine hull and machinery set for slight softening through 2024: GallagherDownward pressure in the “relatively static” marine hull and machinery market means a slight softening is likely during the remainder of 2024, according to Gallagher Specialty.
Intact’s RSA, Fidelis, Lancashire and QBE have largest lines on €200mn Lürssen shipyard fire lossIntact-owned RSA has the largest line on the builders’ risk policy for the Lürssen superyacht shipyard that caught fire in early July, The Insurer can reveal.
Marine market on alert as Houthis launch multiple attacks on ships in the Red SeaThe Lloyd’s and London marine market is on alert after Yemen's Houthis launched a series of attacks on two vessels operating in the Red Sea, including the Liberia-flagged oil tanker MT Chios Lion.
London’s leading energy, aviation and marine underwriters revealed…Convex has climbed the bench strength ranking for London energy underwriters to share first place with CNA Hardy, although the specialty carrier was overtaken in the aviation class by Atrium.
Pen’s Vessel Protect enters cargo war with $100mn limitsSpecialist war risk MGA Vessel Protect – part of Gallagher’s Pen Underwriting – has added cargo war to its existing product suite, offering limits of up to $100mn.
Ex-Atrium underwriter McCombes exits Navium MarineHull underwriter Gillian McCombes has left Navium Marine, the expansive MGA led by well-known market figure Clive Washbourn, The Insurer understands.
Insurers set to shoulder bulk of ~€200mn+ Lürssen loss after retention increasesMarine builders’ risk insurers for the fire-struck Lürssen superyacht shipyard are expected to shoulder losses on a net line basis after recent retention rises limited access to reinsurance support.
CRC hires Anderson and Carlton from B&W in TampaWholesale broker CRC Group has hired Craig Anderson and Joyce Carlton in its Tampa-Bayport, Florida office, with both previously at Burns & Wilcox.
Market chasing shadows on “mystery” sunken Red Sea tanker LavantThe abandoned tanker Lavant is believed to have sunk in the Red Sea in what marine market sources suggest is a casualty from the Russian dark fleet.
American Club posts 99% 2023 CR despite increased IG pool exposuresThe American Club has posted a 99 percent combined loss ratio for 2023/2024 despite an increase in exposures from the 2023 International Group pool.
Red Sea rates rise after string of successful Houthi strikesRed Sea marine war risk rates have risen again following a string of successful Houthi attacks that coincided with the introduction of potentially more lethal tactics by the Iran-backed militant group.
Marine builders market braced for €200mn+ loss from Lürssen shipyard fireQBE, RSA and Atrium lead the builders’ risk policy for the Lürssen superyacht shipyard that caught fire earlier this morning, The Insurer can reveal.
Lockton bolsters Asia marine practice with WTW’s HanLockton has bolstered its Asian marine practice with the hire of WTW’s international hull head Sung Wook Han, The Insurer can reveal.
Ex-WTW duo set 1 August date for Gardian Marine launchFormer WTW mariners Ed Morgan and Guy Tyler are set to launch marine builders’ risk MGA Gardian Marine on 1 August, The Insurer can reveal.
UIB builds out Asia footprint with Aon and Marsh hires in marine fac and specialtyUnited Insurance Brokers Group has expanded its presence in the Asian market across marine treaty and facultative, and facultative and specialty.