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The news comes a few weeks after this publication revealed that UIB was in advanced discussions to take over local broker South Re. -
The broker has partnered with maritime data firm Clearwater Dynamics to provide advanced vessel-tracking solutions.
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He will be responsible for oversight of all aspects of the practice and leading the firm's growth in the market.
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ESG targets and the growth trajectory of renewables is attracting capacity to the class of business.
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Chris Prior of Inigo Insurance will also be joining Wood at the carrier, marking a re-entry into property D&F for Syndicate 1200.
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Several London insurers, including Tokio Marine Kiln, Axa XL, Munich Re, Starr International and Chaucer, are named in the new case.
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Despite a return to profitability in marine classes, the market is operating in an increasingly uncertain environment.
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Inflation, supply chain bottle necks and issues with emerging technology are all challenges for the sector.
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Lloyd's chief of markets Patrick Tiernan said the Corporation is comfortable that a cyber risk pre-mortem exercise showed the market could cope with a major cyber incident.
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The capacity deal is slated for deals with 10/1 effective dates and beyond.
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The attack came from a hacking group known as Scattered Spider, an affiliate of the ALPHV/BlackCat ransomware gang.
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The capacity supported the cat book and represents upwards of two-thirds of the total book.
