Marine
Beazley profits jump as COR worsens to 100% in 2019
CEO Andrew Horton says provider is committed to regional brokers through its Birmingham office despite recently pulling out of UK regional marine.
People Moves Round-up: 3-7 February
Keep up to date with the latest market moves.
Zurich-owned N&G buys marine trade book from NMU
The book of business will be transferred to N&G at renewal and NMU marine trade underwriters will move across as part of the deal.
Brokers predict more marine exits after Beazley run-off
Marine specialists expect to find replacement cover in the short-term, but predict that more market hardening is on the way.
Beazley places UK regional marine book in run-off
Decision could result in a small number of redundancies as the insurer pointed to pressure and low margins in the sector.
Neon Underwriting placed into run-off
Neon's parent company American Financial Group has decided to exit the Lloyd's market.
Aviva Renewable Energy launches exclusively through UK brokers
Offering is targeting renewable energy companies that operate domestically and abroad.
B.P. Marsh invests £1m in Lloyd's broker Lilley Plummer
PE firm takes a 30% stake in the specialist marine broker.
MS Amlin: Brokers highlight regional pull back
Brokers report reduced numbers of staff in the provider’s Chelmsford office and say MS Amlin’s recent action is continuation of providers exiting regions.
Brokers warn redundancies at MS Amlin are “inevitable”
Experts say the restructure is understandable but could lead to office closures as Amlin pulls out of nine business lines.
Brokers monitoring capacity shortages after TMKI run-off
Although brokers are not worried by the provider going into run-off, they have concerns over tightening capacity.
NMU in specialist line-led restructure
Provider says reorganisation will not result in any branch closures and that it plans to keep existing staff wherever possible.
MGA Fiducia and Hiscox sever marine cargo ties
The MGA stated that the timing of the the Lloyd's review was a contributing factor in the decision.
Up to 50 jobs at risk amid RSA specialty and wholesale restructure
Provider pulls out of international construction, international freight and fixed price marine protection and indemnity business and is consulting with staff members about redundancies.
Seventeen buys marine specialists Everards
Broker's fourth deal of 2018.
Arnott Marine launches offshore and subsea product
MGA targets small and medium sized UK brokers.
Hayes Parsons buys yacht underwriting agency Admiral Marine
Deal adds £1.4m of GWP to the firm.
Blog: Commoditisation of cargo insurance
Having found Angela McCluskie’s blog on marine cargo insurance interesting and thought-provoking, John Potter shares his thoughts on how the market may develop.
Blog: In marine cargo flexibility is key
Angela McCluskie of Fiducia pushes against creeping commoditisation in marine cargo and tells brokers there are opportunities for the taking in this complex market.
The most read whitepapers by brokers in February 2018
Check out the top five downloads from Insurance Age’s sister site Insurance Hound.
Arnott Marine launches marine liability facility for UK brokers
Product designed for small businesses with £200,000 or less in turnover.
InsurTech Futures: First blockchain platform for marine insurance launched
EY and Guardtime team up with Willis Towers Watson, MS Amlin, XL Catlin, A.P. Møller-Maersk, ACORD and Microsoft on new platform.
Donegan steps away from Price Forbes to advise Ardonagh Group
He becomes strategic adviser to Towergate-owner Ardonagh Group as James Masterton takes on Price Forbes CEO role.
Fiducia opens Birmingham office
The MGA has also launched a marine trades facility for the UK regional marine market.