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The facility launch comes after Marsh launched its Slipstream marine facility. -
He joins the firm following the departure of Edward Morgan and Guy Tyler, who have launched an MGA.
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Hales will switch to underwriting after a career specialising in marine claims.
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Current head of marine hull Helen Costin is set to retire from the business.
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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 rising reinsurance costs after the Baltimore Bridge collapse could put a brake on softening in 2025.
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Navium has scaled rapidly to become one of the largest marine insurers in the market.
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This publication has reported several exits from the carrier’s Lloyd’s operation.
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Loss assessment is ongoing but the event looks likely to be a total loss.
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Although talent movement in Q1 2024 was above Q1 2023 levels, personnel movement slowed in Q2 2024.
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Plus the latest people moves and all the top news of the week.
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The launch comes after the broker established a marine division earlier this year.
