Marine
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The purchase aims to bolster Markel’s marine product line in the Asia-Pacific region and EU. -
Politically related exposures are growing for the marine market.
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The underwriter has held positions at The Hanover, Liberty Mutual and Zurich.
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The appointment is part of the company’s expansion in the marine market.
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Meco's 2024 gross written premiums totaled $63mn.
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Technical pricing is insufficient in some areas and inflation is biting into margins.
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The program is being launched through subsidiary Southern Marine.
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The company is on a five-year growth plan, aiming to hit $100mn in premiums by 2029.
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The carrier laid out its business mix for the newly launched reinsurance syndicate.
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AIG veteran Kevin Bidney will focus on North American marine.
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Construction defects, GL and risk-managed professional liability lines saw the greatest headwinds.
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The underwriter will be based in New York and drive underwriting strategy.
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