Marine

Protection and indemnity club leaders canvassed by The Insurance Insider have raised concerns that double-digit year-to-date returns from equity investments are allowing clubs to hide imprudent underwriting.

Property and indemnity (P&I) clubs could put their reserves at risk if they fail to manage their entry into new classes of business effectively, AM Best has warned.

Ryan Specialty Group (RSG) has agreed to acquire MGA Lodestar to expand its London market marine presence.

Gary Rynsard will step down as executive chairman of Steamship Mutual in February 2019 and be replaced by managing director Stephen Martin as part of a succession plan that the London protection and indemnity (P&I) club announced today.

The Panamanian-flagged oil tanker that disappeared off the coast of Benin with 13,500 gallons of fuel oil and 22 Indian crew members has been recovered.

XL Catlin has promoted Mike MacColl to the role of global practice leader for hull.

AIG's former aerospace and marine head Joe Trotti is to leave the US carrier for JLT.

Specialty reinsurance rates benefited from increased reinsurer resolve at 1 January, with third quarter catastrophe losses underscoring the marine and energy sector's exposure to natural catastrophe risks, according to JLT Re.

One of the largest ever Indian petrochemical reinsurance policies has been placed in the London market, after Reliance Industries increased the production capacity of the world's largest refinery complex, The Insurance Insider understands.

Bermudian carrier Sompo International has appointed a new head of marine and promoted two senior underwriters at its London market operation.

Alesco Risk Management Services has recruited an energy broker from Miller Insurance Services.

Alesco Risk Management Services has recruited an energy broker from Miller Insurance Services.