Marine
HKFI urges Hong Kong to attract more marine trade
The Hong Kong Federation of Insurers has released a report into how to make its international maritime centre more competitive through tax incentives.
Dock workers in Hong Kong end strike
A 40-day strike in Hong Kong has ended with dock workers agreeing a pay increase of 9.8%.
Arc Legal secures two marine LEI broker schemes
Arc Legal Assistance has secured a series of new deals with specialist boat insurance brokers to provide Marine Legal Expenses Insurance.
Ex-Zurich underwriting boss Meyrick joins XL marine team
XL Group has appointed Lee Meyrick as chief underwriting officer for global marine and offshore energy.
Master programs: A complex world
Companies are expanding from West to East, and from East to West; risks are rising and regulations becoming more complex. Andrew Tjaardstra discovers some of the key considerations that should be taken into account when arranging a global insurance…
Beazley bolsters marine liability and cargo operation with double hire
Beazley has to strengthen its marine liability and cargo capabilities with two new hires.
Standard Club launches hull facility
Standard Club managers Charles Taylors have arranged a hull and machinery facility for Standard Club members, with cover provided by Swiss Re and certain Lloyd’s of London Syndicates.
Ironshore extends Japanese reach
Ironshore International's Lloyd's Pembroke Syndicate has been authorised by the Japanese Financial Services Authority to offer representations and warranties coverage through Lloyd's Japan.
Skuld launches marine trade disruption policy
Norwegian insurer Skuld has launched a marine trade disruption policy, offering protection for loss of income due to vessel delays beyond the operator’s control.
Skuld launches offshore marine disruption product
Marine insurance provider Skuld has launched an offshore marine trade disruption product through its Skuld Syndicate 1897 and partnership with Transmarine.
LMA completes marine claims standardisation project
The Lloyd’s market association has completed a year-long project to standardise engagement terms for marine surveyors and loss adjusters working in the London market.
Navigators gets gold Investors in People award
Pleasure boat insurer Navigators and General has seen its gold award from Investors in People renewed after first being issued in 2010.
CNA UK marine boss named joint cargo committee chair
CNA’s UK marine manager David Grant is to take the chairman’s seat in the joint cargo committee following two years as deputy chairman.
Gard launches line operators product
Gard has introduced a policy to cover on- or off-the-ship damage or loss of containers, which includes cover for containers’ share of General Average contribution.
IUMI calls for greater access to inspection data
The International Union of Marine Insurance has written to the Paris Memorandum of Understanding on Port State Control to call for an increase in the level of inspection data available to underwriters.
Shipowners commit to UK Club
The United Kingdom Mutual Steam Ship Assurance Association, better known as the UK P&I Club, has attracted over 3m gross tons of new tonnage, following the closure of renewal season on 20 February 2013.
Lancashire produces stable profit despite $44m Sandy loss
Lancashire Holdings saw an increase in gross written premium in 2012 to $724.3m (£475.8m) compared to $632.3m the year before. Its net operating profit slightly increased to $220.3m (2011: $219m) over 2012, and its combined operating ratio was reasonably…
RSA's UK profit falls 37% as commercial losses take toll
RSA blamed adverse weather in the first half of 2012 and a weak marine and commercial liability performance on UK underwriting profit tumbling to £39m (2011: £62m) while the combined ratio was 98.2% (2011: 97.3%).
UIB hires associate director for its marine arm
United Insurance Brokers has appointed Spencer Crane as associate director to its Marine Division.
Steve Gordon joins Henderson as marine director
Marine specialist Steve Gordon has been appointed as associate director by Henderson Insurance Brokers.
Scor sees 48% growth in Asian treaty business at January renewals
During the January renewals, Scor Global P&C has reported a 9% increase in gross written premiums (to Euro 2.507bn) with an expected 1.3% improvement in technical profitability for total contracts renewed and a price rise of 1.9% net of general inflation.
Beazley CEO downplays M&A interest amid plans for repeat of 2012
Beazley chief executive Andrew Horton has played down the likelihood of acquisitive movement at the specialist insurer in 2013 and is instead aiming for a repeat of the previous year in terms of growth.
Kiln strengthens underwriting teams in Singapore and Hong Kong
As Lloyd's insurer Kiln grows in Asia, it has appointed two senior underwriters in Hong Kong and Singapore for marine and aviation.
Hyperion agrees deal to take 55% stake in Hong Kong marine broker FP Group
Hyperion Insurance Group has agreed a deal to take a 55% stake in the Hong Kong-headquartered specialist marine broking firm, FP Group.