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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

Slow but steady renewals see P&I clubs make rate hikes stick

Chinese New Year and owner hesitancy could hold things up, as International Group affiliates budget for record pool scheme deficit

London Norway

Steamship Mutual heading for underwriting loss

Record-breaking pool deficit likely to hit all International Group affiliates

Marine International

India authorises third sanctioned Russian P&I provider

Depth of cover unclear, market sources say

Marine India

Fidelis syndicate confirms International Group private placement

International Group inks first private placement in Lloyd’s market for its mammoth reinsurance programme through newly established Fidelis syndicate

London Lloyds

NorthStandard offers one-stop shop P&I and hull cover to smaller vessels

Move will heighten competition with fellow International Group affiliate Shipowners’ Club

United Kingdom Marine

Hull and machinery rates to stay stable in 2025: Gallagher

After several years of hard market conditions, buyers now have the benefits of increased choice and competition

International Specialty

West of England to expand war risk offering in wake of ceasefire in Gaza

Richard Turner anticipates slow resumption of Red Sea and Israel trade as networks and schedules are rearranged

Israel Yemen

Türkiye draws up list of ‘respectable P&I clubs’ for Turkish Straits transits

List includes all International Group affiliates and best-known fixed premium outfits

Turkey Specialty

War risk underwriters wait for definitive Houthi stance on Gaza ceasefire

Brokers confirm pricing is shading down, but say matters could take ‘weeks and months’ to pan out

Yemen Specialty

Arch promotes Hamilton to head of energy and marine liability

Executive will be responsible for combining the insurer's energy and marine teams as part of a restructure of its casualty division

Casualty Arch Capital

Red Sea war risk rates fall as insurers ponder Gaza peace deal

Competition and softening market are pushing down prices, market sources say

Ukraine Yemen

West of England set to take full control of Nordic Marine

Deal will enhance marine mutual’s offer on specialist covers

Marine Sweden
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