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Reinsurance News Marine reinsurance Marine reinsurance is essentially insurance for marine insurers, although the marine line of business does often encompass other types of on and offshore risk. Reinsurance for marine shipping related risks typically covers hull, cargo, specie, liability and other risks such as political exposures. Read all our marine reinsurance news below. War risks return to the seas as reinsurance faces a new era of uncertainty: Willis Re 14th November 2025 According to Willis Re, the marine war risks market, once a quiet, predictable corner of global reinsurance, is being reshaped by renewed geopolitical tension and rising aggression at sea. The firm traces this evolution back to the late 19th century, when Lloyd’s underwriters formally separated “risks of the seas,” such as ... Read the full article MSIG Singapore expands marine capabilities 1st September 2025 MSIG Singapore, a subsidiary of MS&AD Insurance Group, has partnered with MSIG Specialty Marine and appointed the firm as its underwriting agent to expand its marine capabilities. The move aligns with MSIG's strategic growth ambitions and aims to enable the carrier to underwrite Protection & Indemnity (P&I) risks directly from its ... Read the full article Baltimore Bridge collapse highlights complexities of marine liability claims & importance of adaptability: Howden 7th April 2025 As the marine re/insurance sector marks the one-year anniversary of the Baltimore Bridge collapse, the industry continues to navigate the long-term implications of what has been one of its most significant loss events for the industry in recent years, global re/insurance broker Howden highlights. While initial estimates placed the potential cost ... Read the full article Fidelis Partnership secures placement in IGPIA’s $3.1bn marine reinsurance programme 23rd January 2025 The Fidelis Partnership, a privately owned, Bermuda-based Managing General Underwriter, has announced its participation in a historic private placement on the International Group of P&I Clubs’ (IGPIA) $3.1 billion global marine liabilities reinsurance programme, conducted through Lloyd’s Syndicate 3123. This agreement secures a 5% placement on the primary layer of the ... Read the full article Marsh launches $50m port blockage insurance facility following Baltimore Bridge collapse 20th August 2024 Marsh, the insurance broker, risk advisor and a subsidiary of Marsh McLennan, is launching a first-of-its-kind $50 million port blockage insurance facility, covering shipping ports and terminals globally. Following the collapse of the Francis Scott Key Bridge and subsequent disruption at the Port of Baltimore, Marsh created this insurance facility. It is ... Read the full article SiriusPoint forms new strategic partnership with Hellenic Hull 29th July 2024 SiriusPoint Ltd., a global insurer and reinsurer specialising in niche markets, and Hellenic Hull Management (HMA), a marine hull and machinery underwriter in Greece and Cyprus, have announced a strategic partnership. HMA has been influential in the Greek and Cypriot shipping sectors for the past 30 years. It is noteworthy for ... Read the full article Consilium launches marine division to expand speciality offerings 23rd May 2024 Consilium, the global speciality re/insurance broking arm of the Aventum Group, has introduced its new Marine division and appointed Thomas Noakes as Senior Partner. The division will grant comprehensive access to top-rated carriers in the Lloyd’s of London market and specialised marine markets across Europe, the Middle East, Latin America, and ... Read the full article Baltimore bridge an opportunity for us to show the value of insurance: Lloyd’s CEO 28th March 2024 John Neal, Chief Executive Officer (CEO) of the specialist Lloyd's insurance and reinsurance marketplace, said this afternoon that the Baltimore bridge event provides an opportunity for the industry to show the value of insurance. "I've been saying in different conversations this morning that actually the good news there is we are ... Read the full article Baltimore bridge insured losses could total as much as $4bn, says Morningstar DBRS 28th March 2024 Depending just how long the Port of Baltimore is blocked for after the collapse of the Francis Scott Key Bridge, and the nature of the Port's business interruption coverage, insured losses could land between $2 billion and $4 billion, according to analysts at Morningstar DBRS. Even at the low-end of the ... Read the full article Baltimore bridge may be largest example of port blockage seen by insurers in years: Horn, McGill and Partners 27th March 2024 Exactly how long the Port of Baltimore is closed to ships after yesterday's collision and the subsequent collapse of the Francis Scott Key Bridge is unclear, but according to Julien Horn, Partner - Ports & Terminals and Logistics at broker McGill and Partners, "this may be the largest example of ... Read the full article Reinsurers to bear the bulk of insured cost of Baltimore bridge collapse, says AM Best 27th March 2024 The collapse of the Francis Scott Key Bridge near the Port of Baltimore, Maryland yesterday is expected to drive billions of dollars in insured losses, with reinsurers set to bear the bulk of the claim amid concerns it could become the largest ever marine loss. Around 1:30am local time, container ship ... Read the full article Red Sea attacks placing pressure on war insurance premiums: DBRS Morningstar 21st December 2023 Following Houthi rebel attacks on cargo vessels in the Southern Red Sea and the Gulf of Aden, DBRS Morningstar has warned of "upward pressure on war insurance premiums" alongside disruptions to global supply chains and shipping lines. DBRS Morningstar's analysts noted that several major shipping lines have suspended their services through ... Read the full article Hijacking of Galaxy Leader has broader implications for marine war underwriters: Skytek 23rd November 2023 According to Skytek, the recent hijacking of the reportedly Israeli-linked ship, Galaxy Leader, has "worldwide implications for Israeli shipowners and ultimately the marine war underwriters." Outlining the particulars of the event, Skytek said that Galaxy Leader passed near the Iranian flagship, Behshad, in the early morning of November 19th. A few ... Read the full article AXIS Capital hires Christopher Gray as Global Head of Marine Reinsurance 7th March 2023 AXIS Capital, a global specialty underwriter and provider of re/insurance solutions, has appointed Christopher Gray as Global Head of Marine Reinsurance. Based in London, Gray is a very well respected leader within the marine protection and indemnity (P&I) market. He joins AXIS from Canopius Group, where he most recently served as the ... Read the full article Marine hull “off Lloyd’s naughty step” as capacity enters market: Miller 6th February 2023 The marine hull line is finally “off the Lloyd’s naughty step” as profitability has returned to the sector following a period of remediation, and is now starting to see capacity growth, according to a recent report by broking group Miller Insurance Services. Hull capacity growth is now evident in some of ... Read the full article
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