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AGCS said fire and explosion incidents have caused the most expensive insurance claims in the marine industry, while cargo damage is the most frequent cause of loss. -
Mosby will be responsible for managing Ascot’s U.S. Inland Marine portfolio and advancing the market strategy for this business.
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The Norwegian insurer posted a loss of $49mn, driven by losses in its bond portfolio.
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The broker said rate rises on IG reinsurance could be up to 10% following the impact of Hurricane Ian.
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The facilitation ban includes insurance, one of the key services allowing movement of oil by sea.
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The insurer resumed underwriting on the grain corridor after Russia announced it would resume participation in a UN shipping agreement.
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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.
