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The executives said the P&I market needs to be “very careful” about underwriting conditions. -
The appointment of Chris Jones comes amid wider staff movement among Ardonagh’s intermediary firms, as the group consolidates its array of brands.
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Gard’s best underwriting results in 15 years was driven by the “extraordinary” lack of large losses in its commercial marine and energy business last year, according to CEO Rolf Thore Roppestad.
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The results covered a period of around 10 months after the marine insurer changed its reporting calendar.
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The AJ Gallagher-owned MGA is looking to hit £1bn in gross written premiums.
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Hamilton non-renewed its cargo binder with the MGA at the beginning of March.
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The appointment comes following the departure of Stephen Haynes, who has joined Argenta.
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The marine expert worked for Ed for five years, after a career working with Marsh, Miller and Aon.
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The executive said the low claims of 2022 and the large losses of 2021 were anomalous.
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24 February marks the point when blocking and trapping claims can be lodged against war risk insurers, against ships stuck waters around Ukraine.
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Gard CEO Rolf Thore Roppestad said the renewals went “right to the wire” after the late announcement of IG reinsurance rates.
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S&P Global has confirmed an enhanced A rating with a stable outlook for the business.
