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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.

Marine

BankServe warned against Nordic Plan after Galaxy Leader payout refusal

Speculation about second case of owner denied claim by Norwegian insurers, as brokers blast Danish insurer Codan’s ‘inappropriate’ stance

Specialty Marine

London Club to seek targeted increase in premium volume

International Group affiliate books double-digit percentage point gain in mutual entries

London Specialty

Charterparty considerations of wind-assisted propulsion

As wind-assisted propulsion is gaining traction as a means to decarbonise, various contractual issues should be addressed to avoid potential disputes between shipowners and charterers

International Specialty

Galaxy Leader owner in dispute with Codan over loss-of-hire cover

Danish insurer said to be refusing payout, on grounds that Houthis are not a ‘state power’ as per the Nordic Plan

Yemen Specialty

NorthStandard confirms renewal rate hike after string of big hits

Succession of major casualties is function of enlarged scale, but will take combined ratio well over breakeven point, Grose admits

International United Kingdom

Ascot and Markel lead hull war risk slip on captured Galaxy Leader

Travelers on hook for seafarer kidnap and ransom, market sources say

Israel Yemen

‘Different feel’ to policy year justifies P&I rate hikes, UK Club’s Taylor argues

International Group affiliate unveils general increase and higher deductibles for coming renewal

International Specialty

Claims are the barometer of operational quality: Gard CUO

Bjørnar Andresen, chief underwriting officer of the world’s biggest protection and indemnity club, outlines how to manage the ups and downs of claims frequency

Norway Specialty

China P&I Club membership of International Group is not a done deal

After at least two decades of speculation, the Beijing-based marine mutual has not formally asked to join and club chiefs remain ambivalent

China International

Sompo eyes marine growth in Europe

Japanese-owned carrier’s head of marine and specialty insurance for continental Europe describes how long-term commitment is key to client confidence

Europe Sompo International

Skuld sets out 2025 renewal pricing

Hardening claims environment, inflation and rising operating costs justify rate rise, Norwegian marine mutual argues

Norway Specialty

Abundance of capacity pushes cargo rates down

Carriers have been taken by surprise by the speed at which rates have softened, Gallagher Specialty says

London Specialty
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