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.
Yemen sanctions breaches void P&I cover: International Group
Stringent due diligence needed, insurers warn, after three vessels blacklisted
Aon expands marine expertise with Atlas acquisition
Global broker acquires Israeli marine and cargo specialist Atlas Insurance Agency
Tankers cheaper to insure than a year ago but bulk premiums up fractionally
Baltic Investor Indices data inconclusive on claims hull pricing is falling
Marine MGA Amphitrite increases war capacity
Managing general agent adds $40m of Lloyd’s capacity to support growth
Markel to buy fixed-premium provider MECO
Acquisition strengthens specialty insurer’s footprint in marine
ITIC offers big cashback to renewing members
Thomas Miller-managed marine mutual confirms no general increase
Armed robbery incidents surge in Singapore Strait
While most of these incidents are classified as ‘low-level crimes’, security experts have warned attacks have potentially serious consequences for seafarers
Trump tariffs raise risks for insurers
While Donald Trump may not impose tariffs on financial services, the insurance industry cannot escape the risks arising from recession, inflation or gyrating stock markets
Marine hull and machinery risk returning to unprofitability: Gallagher
Broker warns of pricing insufficiency as competition heats up
Dual Europe launches Hamburg marine office
MGA continues to build out marine insurance offering in Europe
Revised Bimco clauses will provide charterers with greater clarity on war risk breach premiums
The new wordings reflect the shipping industry experience in Black Sea and Red Sea conflicts
Political turmoil tops maritime challenges for 2025: Munich Re
Other significant issues include the state of much of the world’s maritime infrastructure and labour supply in the industry
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