Latest news with #marineinsurance
Yahoo
2 days ago
- Business
- Yahoo
Great American and Breeze tie up to enhance marine insurance offerings
Great American Insurance Group's Ocean Marine Division has collaborated with insurtech company Breeze to expand its marine insurance presence. The alliance seeks to refine the insurance process for shippers by incorporating Breeze's proprietary digital platform into the service offering. Breeze, known for its fully automated and digital insurance offerings, backed by technology including big data analytics and machine learning capabilities, integrates with existing systems and workflows. Breeze enables logistics companies to offer clients enhanced protection for their cargo. This includes the issuance of insurance policies and comprehensive end-to-end claims processing. Great American Ocean Marine divisional vice-president Keith Blair said: 'Together, we aim to set a new standard in the industry. Breeze's cutting-edge automated solutions and streamlined approach to providing marine cargo insurance via their proprietary technology is not only timely – it's transformative. 'Our aligned philosophies around innovation, sustainability and disciplined growth position us to build a long-term, resilient portfolio that meets the evolving needs of the global supply chain.' Set up in 1872, Great American Insurance Group specialises in the property and casualty (P&C) insurance industry, with an emphasis on commercial products tailored for businesses. The company has a history of providing insurance for marine-related businesses that stretches back to the early 1960s. In May, Great American Insurance Group's Specialty Equipment Division partnered with TRNSACT, a sales finance platform, to incorporate its physical damage insurance programme into the equipment sales process. "Great American and Breeze tie up to enhance marine insurance offerings " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
04-07-2025
- Business
- Yahoo
Arch Insurance names new US marine head and EVP
Arch Insurance North America has appointed Jeff Kaufmann as executive vice president (EVP), head of marine, in a newly created role. Based in New York, Kaufmann will begin his duties on 7 July 2025, reporting to Valerie Turpin, chief underwriting officer for property. Kaufmann will lead the development of Arch's US marine product offerings, focusing on forming a specialised underwriting team and expanding the marine insurance portfolio. The new division will cover both ocean marine and inland marine products. Arch Insurance North America CEO Matt Shulman said: 'We are very excited to welcome Jeff to Arch. Customers have been asking for more comprehensive Marine solutions and Jeff's reputation and strong relationships with specialty producers throughout the US make him an ideal person to build out our offerings. 'We see significant opportunity in this area and Jeff's appointment is an important step in establishing Arch as a meaningful provider in this space.' Joining from MSIG USA, where he held the position of EVP and head of Marine, Kaufmann is claimed to be known for his leadership in the marine insurance sector and his expertise in crafting solutions for complex exposures, including both filed and non-filed form development. Kaufmann added: 'Establishing a US Marine practice at a company with Arch's growth trajectory and reputation for bringing innovative solutions to its customers is an attractive opportunity. 'I'm looking forward to working with Valerie and the rest of the Arch team to create a compelling Marine offering for Arch's clients in North America.' In June 2025, Arch Insurance collaborated with insurtech company bolt to extend the reach of its Annual Multi-Trip Travel Insurance plan through bolt's distribution network. "Arch Insurance names new US marine head and EVP " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Globe and Mail
02-06-2025
- Business
- Globe and Mail
Markel announces completion of MECO acquisition
LONDON , June 2, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that it has completed its acquisition of specialist marine MGA, The MECO Group Limited (MECO), following regulatory approvals. Andrew McMellin, President of Markel International, stated: "We're thrilled to finalise this acquisition and officially welcome MECO's people to Markel. MECO is a well-regarded brand, known for its professionalism, operational quality, and robust distribution channels in regions where we're actively expanding our presence. I look forward to the opportunities we can leverage as we join forces." Chris Else , Chief Executive of MECO, remarked: "This development represents an important milestone in the evolution of the MECO Group. Markel is a rapidly growing organisation that has built its success on a strong balance sheet, clear strategic vision, and philosophy of local empowerment. From early discussions with the leadership team, it was evident that their core values, as a people-powered business, make Markel an excellent fit for MECO as we embark on this new and exciting chapter." MECO, which has offices in London , Dubai , Shanghai and Hamburg , will trade as MECO Specialty, as part of the Specialty division of Markel International's Wholesale operation, led by Tom Hillier , Managing Director - Specialty. About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide.
Yahoo
02-06-2025
- Business
- Yahoo
Markel announces completion of MECO acquisition
LONDON, June 2, 2025 /CNW/ -- Markel Insurance, the insurance operations within Markel Group Inc. (NYSE:MKL), today announced that it has completed its acquisition of specialist marine MGA, The MECO Group Limited (MECO), following regulatory approvals. Andrew McMellin, President of Markel International, stated: "We're thrilled to finalise this acquisition and officially welcome MECO's people to Markel. MECO is a well-regarded brand, known for its professionalism, operational quality, and robust distribution channels in regions where we're actively expanding our presence. I look forward to the opportunities we can leverage as we join forces." Chris Else, Chief Executive of MECO, remarked: "This development represents an important milestone in the evolution of the MECO Group. Markel is a rapidly growing organisation that has built its success on a strong balance sheet, clear strategic vision, and philosophy of local empowerment. From early discussions with the leadership team, it was evident that their core values, as a people-powered business, make Markel an excellent fit for MECO as we embark on this new and exciting chapter." MECO, which has offices in London, Dubai, Shanghai and Hamburg, will trade as MECO Specialty, as part of the Specialty division of Markel International's Wholesale operation, led by Tom Hillier, Managing Director - Specialty. About Markel Insurance We are Markel Insurance, a leading global specialty insurer with a truly people-first approach. As the insurance operations within the Markel Group Inc. (NYSE: MKL), we leverage a broad array of capabilities and expertise to create intelligent solutions for the most complex specialty insurance needs. However, it is our people – and the deep, valued relationships they develop with colleagues, brokers and clients – that differentiates us worldwide. View original content to download multimedia: SOURCE Markel View original content to download multimedia:
Zawya
13-05-2025
- Business
- Zawya
India approves more Russian insurers to provide marine cover
India has approved three Russian insurers, including a unit of top lender Sberbank , to provide marine cover to ships arriving at Indian ports, a government notification shows, helping Moscow maintain oil supplies to its key market. India is the top buyer of Russian seaborne oil after China since Western nations shunned purchases and imposed sanctions on Moscow for its military action in Ukraine. (Editing by Louise Heavens)
