Marine
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There has been an exodus of hull premium from the London market to Nordic carriers since 2014.
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The facility launch comes after Marsh launched its Slipstream marine facility.
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The carrier has made several recent high-level promotions.
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In tandem, Mike Falvey will transition to executive chairman, effective January 1.
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This expansion will protect against risks faced by transportation and logistics businesses.
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The carrier is expanding its MGA partnerships and has invested in its marine team.
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The broker said that rising reinsurance costs after the Baltimore Bridge collapse could put a brake on softening in 2025.
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The two join the company from Navigators, a subsidiary of The Hartford.
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Sentry launched its specialty lines division in 2022.
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The executive announced last month that he was leaving Parsyl, where he had worked since 2021.
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Mizell will be based in IMA’s Houston office, its fastest-growing regional division.
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The carrier said it has “moderate exposure” to the bridge collapse.
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There is a high likelihood the property claim will be subrogated.
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Ulrich Kadow will become global head of product management and underwriting transformation.
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The new offering marks the expansion of BHSI’s US marine facilities.
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The owner and manager of the cargo ship Dali have filed suit to cap liability at $43.7mn.
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A claim on that scale would test the market in ways it has never seen.
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The complexity of the incident and US location point to one of the largest ever marine losses.
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The value of the bridge is estimated at $1.2bn.
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A Maersk-chartered container ship caused the Francis Scott Key Bridge to collapse.
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The business will be led by Alex Kirkby, new head of marine and energy.
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Rokstone Underwriting has announced a $25mn North American marine facility backed by Allianz Commercial.
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Kowell succeeds Michael Pellegrini, who was appointed head of specialty for both markets last month as Michelle Sartain took over as US and Canada president.
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The report noted that, overall, marine insurance results appear to indicate growth, which Iumi welcomed after a prolonged period of negative returns.
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Berisha will serve as head of US marine cargo, Vandermyde as underwriting manager, inland marine.
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The appointment is the latest senior hire from AIG for the MGA, which recently hired Jordan Lanford as aviation head.
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Stoik has more than 35 years of senior management, underwriting and broker experience.
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He will be responsible for oversight of all aspects of the practice and leading the firm's growth in the market.
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The consortium is supported by 11 other Lloyd’s businesses.
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Effective August 24, Kristen Hunter will start as head of inland marine – North America at Axis, bringing a team of three with her from Berkshire Hathaway.
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Romeo will be responsible for building out the US cargo program and charting a course for growth ahead of its launch later this year.
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Before joining AIG, the executive had served as chief underwriting officer of marine at The Hartford.
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In addition to his new role, the executive will retain his current position as head of marine for the Australasia region.
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The underwriter has worked at Swiss Re, Ironshore and Alize during his insurance career.
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The broker said increased reinsurance costs had not been passed onto customers.
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Recently released statutory data shows the US P&C industry loss ratio touching the 65% mark, the highest level in two decades.
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