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Marine

Iran warns insurers against servicing Hormuz black list vessels

Iran has expanded its Strait of Hormuz blacklist to 76 vessels and warned insurers, P&I clubs and classification societies against servicing them

Strait of Hormuz crisis Iran

Markel makes senior marine transportation appointments

Dean Johnson named head of transport and logistic and Rhys O’Neill appointed head of marine liability.

London Marine

Black Sea war pricing has yet to find its level

The rise in attritional attacks across the Black Sea, Red Sea and Middle East are forcing underwriters to look beyond listed areas when assessing marine war exposure, according to Clearwater Underwriting CUO Richard Young

International Lloyds

Global marine market forecast to reach $48bn by 2031

Specialist cover, rising trade volumes and regional expansion are to support the sector, even as soft pricing persists in traditional marine classes

International Marine
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Energy

Clearwater launches upstream energy offering

MGA hires Tokio Marine Kiln's Hook to lead new proposition

London Specialty

Chronic climate risks threaten data centre surge

Data centre stakeholders can better manage longer-term climate risks, such as heat and drought, that may increase cooling costs, squeeze margins and threaten insurability

Viewpoint Climate change

Amwins expands nat cat facility to $50m per placement

Expanded facility will provide cover for earthquake, flood, wildfire, windstorm and other natural catastrophe risks worldwide

International Specialty

MNK International launches energy division

New division will target emerging and specialist markets across Africa, the Middle East, Europe, Asia and the Americas

International Lloyds
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Aviation

War and PV market braces for first loss-making year since 9/11

Losses linked to conflict in the Middle East could be north of $2bn, against an annual gross premium of $2.5m, Marsh Re says

Middle East and Africa International

‘Aggressive’ MGAs pressure aviation premiums

Increase in MGA capacity is part of a wider fragmentation of capacity in the general aviation market, broker says

Aviation Specialty

Aviation insurance claims costs continue to rise

Cost of major repairs jumps nearly 11% year-on-year amid labour shortages and increased cost of parts and materials, McLarens Aviation data shows

International Specialty

Retro markets ‘push back’ on aviation rate pressure

Aviation retrocession markets are becoming cautions of rising losses amid a ‘changing view of risk’, Gallagher Re reports

Aviation Gallagher
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Specialty

Iran warns insurers against servicing Hormuz black list vessels

Iran has expanded its Strait of Hormuz blacklist to 76 vessels and warned insurers, P&I clubs and classification societies against servicing them

Strait of Hormuz crisis Iran

Markel makes senior marine transportation appointments

Dean Johnson named head of transport and logistic and Rhys O’Neill appointed head of marine liability.

London Marine

London market premiums fall 0.1% to £49.2bn

Strong growth in D&F business but falls in treaty, property and motor premiums amid ‘challenging market conditions’

Specialty Property

Black Sea war pricing has yet to find its level

The rise in attritional attacks across the Black Sea, Red Sea and Middle East are forcing underwriters to look beyond listed areas when assessing marine war exposure, according to Clearwater Underwriting CUO Richard Young

International Lloyds
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Political Risk & Trade

Markel appoints Handen to lead Americas trade credit

Handen will lead the carrier’s growth initiatives across the US, Canada and Latin America

Specialty Markel

Political risk cover gains mid-market traction: WTW

Insurers but will require products better suited to middle-market buyers, broker says

International Specialty

India protests test boundaries of SRCC cover

Underwriters are paying closer attention to occurrence wording, geographic accumulations and the potential for civil unrest to develop into a broader political violence event, according to Markel

India Specialty

Political risk market forecast to reach $49bn by 2031

Middle East and Africa forecast to be the fastest growing regional markets

International Political Risk and Trade
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Terrorism

Political risk market forecast to reach $49bn by 2031

Middle East and Africa forecast to be the fastest growing regional markets

International Political Risk and Trade

Clearwater launches crisis management division

Managing general agent will initially write active assailant, terrorism and political violence risks

London Specialty

Increasing unrest creates PV&T opportunity in Asia

Coverage exclusions and demand for higher limits are creating opportunities for the international specialty carriers, Markel’s Henry Ang says

Markel Asia Pacific

Markel appoints Ang head of terrorism in Singapore

Ang will be responsible for developing Markel’s political violence and terrorism portfolio in the Asia-Pacific region

Markel Specialty
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