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The insurer resumed underwriting on the grain corridor after Russia announced it would resume participation in a UN shipping agreement. -
Chubb has seen several exits from its marine team this year and restructured its leadership.
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The insurer is hopeful it can recommence quoting once it has clarity on the situation in the Black Sea.
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The underwriter has more than 40 years’ experience in the market and was global head of marine and energy reinsurance at Axis Re.
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Paul Evans joins from Tokio Marine Kiln and will report to Malcolm Barnes, head of marine reinsurance.
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Staff movement remains high in the class of business, which has seen a turnaround in performance.
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The carrier is pursuing a strategic expansion in primary insurance lines, and has also made several marine appointments.
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Pedro Mairos is moving up from heading marine in the UK and Ireland and will remain based in London.
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The carrier has merged its marine and energy units as it looks to improve service and achieve growth.
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The unit is led by marine veteran Ricardo Castro, who joined the firm from Marsh and has over four decades of experience in the industry.
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Inflation and reinsurance costs are among the key challenges that marine underwriters face.
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The union has also appointed Tokio Marine & Nichido Fire’s Kosuke Hashimoto as vice president.
