Local owners not generating sufficient premium revenue to cover scale of potential payouts, with hijacked Galaxy Leader worth up to $60m if declared a constructive total loss
Big surge in capacity in recent years, but profits still healthy, broker says
Premiums already up 200% after Galaxy Leader hijack and likely to get firmer this week
US marine insurer hires Ascot senior executive Tom Nasso to oversee underwriting
Gallagher-owned MGA plans to diversify box into 'complementary products' and other lines of international business that have Lloyd’s distribution
With 11 International Group affiliates now declared and only Swedish Club still to come, this renewal round will see the lowest percentage price increases in four years
Red Sea transits unavoidable for Suez Canal users and even a rise of a fraction of a percentage point could add hundreds of thousands of dollars to cost of a trip
Price hike at upper end of going rate driven by expected inflation impact
War risk cover for vessels trading with Ukraine since the Russian invasion in February 2022 have been volatile, with additional premiums thought to have touched an unprecedented 10% or more of hull value
Schnorr joins specialist re/insurer from McGill and Partners where he was most recently partner in the reinsurance team
Three of the five International Group affiliates to have announced strategies for the 2024 renewal have included sweeteners totalling more than $80m. But are the payouts as generous as they look?
Australian insurance giant continues European marine expansion
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