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The underwriter worked at the carrier for six years before joining Atrium in 2014 and replaces Malcolm Barnes. -
The carrier announced its entry into the London marine hull and machinery market in November 2021.
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Rate increases appear to be tapering across the market, except for loss-making accounts, which have experienced restructuring and substantial increases.
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Political violence and aviation coverages had been thrown into marine composites as the market softened.
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Once a location is listed, marine underwriters are entitled to charge additional premiums for ships sailing in the area.
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The MGA has had a major impact on the marine market since its launch, writing a substantial amount of business.
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The broker said the market was flattening but that large losses in the first quarter would sustain pricing levels.
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Under standard marine war coverage, blocked or trapped ships become total losses after 6-12 months.
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Lloyd’s 2021 results have revealed significant improvements in virtually all lines of business as well as rocketing premium growth in reinsurance and primary casualty business.
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AIG’s global specialty head Paul Greensmith spoke on a panel at the Marine Insurance London conference, which explored how the capital’s marine market can arrest its declining status.
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The marine underwriter first joined the carrier in 2020 after leaving long-standing employer Atrium.
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Dorothea Ioannou will become the first female CEO of an International Group P&I club in the 167-year history of marine mutuals.
