Partners Look to Tackle Risks of Autonomous Shipping
As industry efforts to make autonomous shipping a reality continue, Rolls-Royce and AXA Corporate Solutions have signed a letter of intent (LOI) to explore ways in which they can bring a new risk management offering to the marine market.The companies say they seek to utilize Rolls-Royce Ship Intelligence systems and equipment and AXA’s risk analytics capabilities to support current sailing and future vessels."Combining AXA’s Marine Underwriting expertise and Rolls-Royce Ship Intelligence will enable both companies to deliver higher customer value through continuous innovation…
XL Group Grows in Asia
XL Group strengthened its Insurance Marine team with the appointment of Mike Davies as Chief Underwriting Officer, Marine, Asia Pacific and Ian Picton as Senior Upstream Underwriter. Understanding the local industry and what is impacting it, is a key recruitment driver for XL Group. Explaining, Lee Meyrick, Chief Underwriting Officer, Global Marine and Offshore Energy, said: “Asia is an important market for our global clients and it plays a huge part in supply chain logistics for companies operating around the world. Mr. Meyrick added: “Mike has 35 years’ experience in the insurance industry and an in-depth understanding of the marine market across Asia. Mr.
AXA Posts Growth in Marine and Aviation Business
The marine and aviation division of AXA Corporate Solutions continued to make substantial progress and grow market share in 2006, the Paris headquarters reports. AXA Corporate Solutions, the specialized lines insurer within the giant AXA Group, showed a 5% growth in turnover, reaching €1.689 billion in 2006, while keeping its combined ratio at 100%. The company is one of the players in marine insurance. In 2006, 22 percent of its marine business came from French clients and 78 percent from the rest of the world. Major renewals of programs at the beginning of this year were secured. In the U.K., cargo insurance is growing rapidly under an initiative to target high-end U.K. clients, and several big multinational accounts have been won.
