A total of 31 marine insurance providers have quit or significantly reduced capacity in the marine insurance market since 2017, the International Union of Marine Insurance (IUMI) conference in Toronto was told this week.
Chaucer head of marine Philip Graham, who heads up IUMI’s Facts & Figures Committee, said the trend is not limited to the Lloyd’s of London market, where there has been a recent cull of unprofitable syndicates.
