The Generali insurance group is ceasing to write marine hull insurance in London, in a powerful signal about the dire state of the market.
The Italian insurance giant is one of world’s top underwriters but has found profitable business hard to come by in the heart of the global hull and machinery market.
Generali is not commenting but multiple sources have confirmed to TradeWinds that the company has made a strategic decision to quit the UK hull market and is reassigning staff, so the withdrawal appears permanent.
