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Rebel attacks on vessels have led insurers to hike pricing. -
Major shipping lines are diverting ships away from the Red Sea following numerous attacks.
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Director of aerospace David Godley had been at Nexus since its acquisition of aerospace MGA Altitude in 2018.
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Howden was the most active acquirer as people-move activity peaked in Q2, this publication’s data showed.
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Barr’s resignation from his previous role as head of marine at CNA Hardy was first revealed by this publication in July of this year.
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The class exit comes after it emerged in November that Brit had withdrawn from the space market.
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The former Argo executive will join the MGA on 1 January, pending regulatory approval.
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The broker’s global marine team services global premiums of $3.9bn across marine classes.
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Current marine head Laurence Humberstone is set to retire after 19 years at the carrier.
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The line of business entry will be via its AdA SPA 2024, which will begin underwriting in 2024.
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The carrier has made numerous hires across its marine team as part of an international insurance buildout.
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Sources voiced some disappointment in the rate reduction but acknowledged the improved loss record of the contract.
