We provide significant capacity to some of the world's largest vessels and provide a range of Marine coverages to our core group of clients.
Financial Strengths Ratings
Marine Builders Risk covers the building of ocean-going vessels in specialised yards worldwide. Our Marine Builders Risk appetite effectively emulates our Marine Hull strategy and we look to deploy our capital against a traditional, long-established array of yards throughout Europe and the U.S.
Marine Hull and Total Loss is generally written on a direct basis and covers marine risks on a worldwide basis, primarily for physical damage. In Marine Hull, Lancashire targets larger, higher quality fleets with newer tonnage, which typically outperforms older tonnage, as well as liquid natural gas tankers, cruise lines and high-profile market risks.
Marine War is direct insurance of loss of vessels from war, piracy or terrorist attack and is written packaged together with the Hull exposures, or as a standalone placement.
We are a market leader in this segment and maintain our strict guidelines in supporting modern assets for Marine and Energy with reputable finance houses through our key market producers.
Marine P&I includes the reinsurance of the IGPIA and covers a select number of non-poolable market facilities.
The Lancashire Syndicates specialise in the core marine lines of Marine Hull and Cargo where we are a leader for Cargo risks within the London market.
FINANCIAL STRENGTHS RATINGS
The account is a broad based worldwide one and includes specie, fine art and marine war business. The vast majority of the business written relates to the in-transit insurance of goods and commodities of every type and nature for commercial assureds ranging from some of the largest companies engaged or with interests in shipment and mercantile trade worldwide, to small, sole trader type entities.
The Marine book in Lancashire Syndicates is written by the main Lancashire Marine underwriting team and follows a similar philosophy in terms of risk selection, albeit to fit the Lloyd's market.
The business profile consists of a blend of our core classes of Marine Hull, IV, Excess Hull, Builder Risk and Marine Liabilities. The typical vessel types match the Group's preferred tonnage of gas, cruise and other specialist vessels.