K2 Rubicon Specialty primed for marine hull launch with Talbot’s Hayward

K2 Rubicon Specialty primed for marine hull launch with Talbot’s Hayward

The Argenta-backed MGA is already active in the cargo and property classes of business.

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Talbot’s head of marine hull and war Vicky Hayward has resigned and is set to join MGA K2 Rubicon Specialty, as it prepares to launch into the marine hull market, Insurance Insider can reveal.

K2 Rubicon Specialty launched last summer under the leadership of ex-Ascot cargo chief Gavin Wall, along with former Ascot colleagues Chris McGill and Matthew Eve.

The MGA, which counts Argenta as its lead capacity provider, is active in the cargo and property classes, and sources told Insurance Insider it is preparing to extend its marine offering into hull.

Hayward is an experienced underwriter with over two decades of experience in the hull market.

She joined Talbot in 2023 from Hiscox to lead its hull account, and has also held positions at Marsh, Aspen and Catlin.

There has been a proliferation of MGAs in the London marine market in recent years, notably the Clive Washbourn-led Navium Marine, which has built a $400mn+ premium business since launching in 2021.

Other MGAs active in the marine hull market include Ai Marine and Clearwater Underwriting, while United Risk is set to launch a marine hull cell with Aegis’s Jonathan Humm.

Following a multi-year period of rate rises, which have returned the hull market to profitability, rating is now coming under pressure.

In a recent report, broker Gallagher said the hull market remained soft during the second quarter, as many of the largest marine insurers in London looked to achieve ambitious 2025 growth targets.

K2 Rubicon Specialty, Talbot and Argenta declined to comment.

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