Beazley positive about marine division merger with PAC

UK-listed re/insurer Beazley has said that “bringing together Beazley’s Marine division with the Political, Accident and Contingency division and Portfolio Underwriting has brought synergies and opportunities for cross selling”. In March 2022 the Group updated its underwriting team structure with the creation of four underwriting divisions: Cyber Risks, Marine, Accident and Political (MAP) Risks, Property…

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https://insurancemarinenews.com/insurance-marine-news/beazley-positive-about-marine-division-merger-with-pac/

Renewal report: London Club describes “positive renewal outcome”, but tonnage is down

London Club has reported what it described as a positive renewal outcome at the February renewals for the 2023/24 policy year. The Club’s mutual entry following the renewal stands at 40.5m gt; the comparative position 12 months ago was 44.1m gt. Ian Gooch, CEO of the Club’s management team, said...

https://insurancemarinenews.com/insurance-marine-news/renewal-report-london-club-describes-positive-renewal-outcome-but-tonnage-is-down/

Renewal report: American Club premium income up 17%, tonnage up 25%

American Club has reported what it described as “encouraging year-on-year growth in premium and tonnage over the recent renewal period”. Premium income for the Club’s Class I (mutual P&I) entries over the year was 17% greater than a year earlier, with concomitant tonnage growth of 25% over the...

https://insurancemarinenews.com/insurance-marine-news/renewal-report-american-club-premium-income-up-17-tonnage-up-25/

Renewal report: West’s premium exceeds $300m for first time

UK-based International Group Club West P&I has reported a “disciplined renewal” which saw a premium increase of 9% on renewing mutual business. Gross premiums across all its business lines have exceeded $300m for the first time in the Club’s history. The Club said that its “selective approach to...

https://insurancemarinenews.com/insurance-marine-news/renewal-report-wests-premium-exceeds-300m-for-first-time/

Marine a major contributor to Munich Re’s reserve releases for 2022

Marine constituted 3% of business in the January reinsurance renewals (total €15.1bn, and dominated by property and casualty). Munich Re reported €3.4bn IFRS net income, up from €2.9bn the previous year. The reinsurer reported a 3.2% increase in prices, but a 2.1% decline in volume. In the...

https://insurancemarinenews.com/insurance-marine-news/marine-a-major-contributor-to-munich-res-reserve-releases-for-2022/

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