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Scor’s Nicola Hannay has been appointed head of power generation.
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Paul Western has been promoted to head of hull underwriting.
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The marine market has had several new MGAs launch into the sector.
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Coverage is still available, but large losses could “move the dial” on pricing.
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The carrier has also hired Craig Bedford as specie underwriting manager.
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The carrier is expanding its marine footprint in 2024 through its Lloyd’s and London branch.
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Swiss Re will transfer its Genoa-based hull business to Dual Europe and provide the MGA with underwriting capacity.
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Sources said that the market was not sufficiently profitable to concede ground on pricing.
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The marine entry will be backed by Axeria IARD, SiriusPoint and Sompo International.
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The carrier confirmed that coverage will renew on 20 February 2024.
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High staff turnover in the cargo market is continuing this year, following elevated movement in 2023.
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Price Forbes has been hiring across specialty lines, and recently appointed Howden’s cargo head Jonathan Eaton.