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Marine war market remains strained as detainment losses loom
Achieving profitability is increasingly challenging in the volatile but historically lucrative market.
Latest News
A roundup of all the news you need today, including Mapfre Group’s results for the past nine months.
Insured losses for 9M 2024 have hit $102bn, according to a report.
The launch will add to a marine portfolio which already includes cargo and reinsurance accounts.
Behind the Headlines
Behind the Headlines: Navium Marine's Clive Washbourn on why MGAs are the fighter jets of insurance
How do you build a $400mn MGA? Navium Marine CEO Clive Washbourn told Behind the Headlines that his business is a "fighter jet" out hunting for deals. Navium has built scale by taking on risk "in a fairly aggressive way" with large line sizes available to deploy. Whilst the marine market is now coming under pressure, Washbourn still thinks there is "robustness" in rating, although making money in the volatile Red Sea war market is challenging.
Behind the Headlines is a fortnightly podcast hosted by Insurance Insider's senior reporter Sam Casey.
Get the inside scoop on the major stories shaping the London market through discussions with the journalists who broke them. Plus, hear from industry professionals on what these developments mean for the (re)insurance sector.
Every other Friday morning, Behind the Headlines will break down the biggest stories of the last two weeks. Sam will discuss these stories with the journalists who broke them: Catrin Shi, Fiona Robertson, Rachel Dalton and the rest of Insurance Insider's award-winning editorial team.
Plus, he will interview the big names from the London market, getting their perspectives on the state of the industry and the latest headlines.
Opinion
Postcard from Ferma: An accelerated risk landscape
Risk managers are increasingly concerned about insurability.
Most Read
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Moody’s RMS posts Milton insured loss estimate of $22bn-$36bn
17 October 2024 -
Beazley halts offering new capacity for hospitals
16 October 2024
Analysis
Some reinsurers are considering frequency protection products.
Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene.
A canvassing of the market showed some bifurcation on the necessity of a government backstop.
There has been some strategic withdrawal of capital for younger syndicates.
More News
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Howden Re fac team adds Gallagher’s Yoosaf and Menon
28 October 2024 -
Rokstone doubles D&O line size to £10mn with Lloyd’s capacity
28 October 2024 -
Price Forbes makes Kelley Bermuda CEO
28 October 2024
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HDI Global adds Strasser to executive board as Beutter retires
28 October 2024 -
Universal's Milton loss to hit second reinsurance layer: CEO
28 October 2024 -
ARPC close to ‘full exposure’ with tropical cyclone pool
25 October 2024
Interviews
Interviews
The marine underwriter said the business had grown through taking “very big positions” on programmes.
The executive also highlighted SRCC in property treaties as a concern.
The carrier is looking to grow its specialty offering across Europe and APAC.
Nick Orton said the market is now pricing for non-peak perils, amid some surprise losses.
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Upcoming industry events
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From our other titles
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Forward exit option adds to investor comfort around long-tail ILS
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