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Marine Insurance

Marine insurance is experiencing a period of rapid change, with a prolonged struggle to deliver underwriting profit forcing companies to reevaluate their proposition and the need to modernise. The class of business on which Lloyd’s was founded, the marine market is now navigating through a transitional period as it embraces technological reform and looks to rebuild its profit margin against a challenging operational backdrop.


Underwriters fear aggregation loss on Israeli ships

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

Middle East and Africa Marine

London cargo market in best shape for more than a decade: Gallagher

Big surge in capacity in recent years, but profits still healthy, broker says

London Marine

Israeli shipowners set to pay more for Red Sea war risk cover after attacks

Premiums already up 200% after Galaxy Leader hijack and likely to get firmer this week

Israel Yemen

Falvey names Ascot's Nasso as chief underwriter

US marine insurer hires Ascot senior executive Tom Nasso to oversee underwriting

United States Specialty

Pen Underwriting to write marine from box at Lloyd's

Gallagher-owned MGA plans to diversify box into 'complementary products' and other lines of international business that have Lloyd’s distribution

Lloyds London

Skuld and Japan Club announce 2024 pricing

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

International Japan

Israeli owners may face war risk rate hike after car carrier capture

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

Israel Yemen

UK Club confirms general increase for members

Price hike at upper end of going rate driven by expected inflation impact 

United Kingdom Marine

Marsh scheme could cut Ukraine war risk rates by as much as two-thirds

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

Europe Specialty

Chaucer names Schnorr head of marine and energy

Schnorr joins specialist re/insurer from McGill and Partners where he was most recently partner in the reinsurance team

London Chaucer

Why P&I clubs are giving away tens of millions of dollars

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?

International Marine

QBE adds German marine offering

Australian insurance giant continues European marine expansion 

Europe QBE
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