P&I club Gard has expanded its product portfolio in Japan to include marine and energy risks, including hull and machinery, war risk and loss of hire.

The Fidelis Partnership has confirmed its 5 percent private placement on the $3.1bn excess of loss reinsurance program for the International Group of P&I Clubs.

Ascot has appointed Jon Mosby as deputy CUO, US marine and property and Dustin Jones as head of inland marine, US.

The Lloyd’s Market Association’s Michelle Boyd is set to join QBE’s marine team later this year.

An influx of new capacity from the MGA space and increased appetite from well-established players has created attractive hull and machinery market conditions for buyers, according to Gallagher.

The announcement that the Houthis will limit their attacks on commercial shipping to Israeli vessels following the Gaza ceasefire is unlikely to have any substantial impact on Red Sea threat levels in the short term, sources said.

Aon senior marine reinsurance brokers John Tye, Kerry Bates and Paul Tucker are set to retire in Q1 2025, while the intermediary has bolstered the unit with the hires of Hamilton’s Neil Lee-Amies and Chord Re’s Ed Wheatley, The Insurer can reveal.

Arch Insurance International has bolstered its casualty division with three promotions, including that of Robin Hamilton as head of energy and marine liability.

Red Sea marine war risk rates had fallen on the prospect of yesterday’s long-awaited ceasefire agreement between Israel and Hamas, but sources have said there could be some market resistance to another rapid or more significant drop.

Concerns that the Baltimore bridge collapse could result in the marine reinsurance market's largest ever loss were largely put aside during the January renewals due to prevailing supply-demand dynamics.