UK Club has reported that for policy year 2022/23 its GWP exceeded $500m for the first time, a result of the Club expanding its fixed premium P&I business. It recorded a combined ratio of 104%, down from the 115% booked…
After successful conclusion of the 2023/24 P&I Renewals, we hosted again the annual Ski Trip in Austria, together with our friends from the London Market.
Two insurance groups have agreed to communicate when there is a common interest. Mutual protection and indemnity insurers have agreed to communicate with London’s commercial marine insurance market on claims where there is a common interest. The move is outlined…
But bottom line is hit by poor investment returns in ‘short’ accounting year Gard has reported its best underwriting performance in 15 years after a fall in major claims. The Norwegian marine insurer said its combined ratio, which reflects pure…
Payouts for ships trapped in Ukraine have not yet been fully resolved Lloyd’s of London war risk underwriters are holding back reserves for insurance payouts potentially running into hundreds of millions of dollars for ships trapped in Ukraine. The Lloyd’s…
The introduction of the G7 oil price caps – on crude oil last December and on refined products in February – saw Russia state emphatically that it would not work with the price cap. However, the vast majority of seaborne…
International freight and logistics mutual insurer TT Club has announced two new appointments to senior positions as part of its planned succession programme. Kevin King has been promoted to the post of Deputy Chief Executive Officer. Meanwhile, Mark Argentieri has…
The Lloyd’s insurance market will continue to cover Ukraine grain corridor shipments, for now, Lloyd’s chairman Bruce Carnegie-Brown said on Thursday March 23rd. The deal guaranteeing safe exports of grain and fertilizer from three of Ukraine’s Black Sea ports has…
In view of the ongoing war between Russia and Ukraine, the International Group P&I Clubs are now offering cover for vessels transiting and/or calling within ALL Russian waters including their coastal waters up to 12 nautical miles offshore, and Certain…
Further to the finalization of the renewal arrangements for the International Group’s General Excess of Loss Reinsurance Contract (GXL) and Hydra reinsurance program for the forthcoming 2023-24 policy year, please see below rates that will apply per vessel type: …
