Marine

Protection and indemnity club Gard has appointed Mark Russell as managing director of its Hong Kong office.

London market executives have expressed disappointment at the lacklustre rate rises underwriters have been able to achieve following the 2017 catastrophes, as continued overcapacity has served to drown out hard market sentiment.

The downstream energy market is staring down the barrel of a loss that could run to hundreds of millions of dollars after an earthquake in Papua New Guinea impacted a major energy project, The Insurance Insider understands.

Munich Re aims to construct an excess facility to raise cyber limits to $300mn through its Stream Consortium, according to JLT Specialty.

As the oil and gas industry adopts new techniques to store and process large and complex data, offshore and onshore producers face higher exposure to cyber attack, according to JLT Specialty.

US energy casualty underwriters are holding firm and quoting “as before” on most loss-free business, according to JLT’s energy newsletter.

The Insurance Insider looks in detail at the results for Lloyd's marine, energy, aviation and motor segments

Aon Benfield marine managing director John Connolly is set to step down after 40 years at the company.

Validus Specialty Underwriting has announced a tie-up with marine facility Eagle Ocean America.

Thomas Miller P&I chairman and CEO Hugo Wynn-Williams is set to step down as chief executive.

Shipowners with loss-free accounts have received low-single-digit rate decreases on protection and indemnity cover at general renewals for the 2018/19 policy year.

The recently disbanded Falvey Insurance Group yacht underwriting team has re-emerged to run a newly created facility at Hub International's binding and MGA platform Specialty Program Group (SPG).