The development of Hong Kong's marine insurance sector calls for a more strategic and forward looking approach, against a backdrop of an increasingly complex and shifting global trade landscape, said Hong Kong's Insurance Authority's (IA) Executive Director, Policy and Legislation, Clement Lau.
The Indonesian General Insurance Association (AAUI) expects marine cargo insurance to maintain its growth trend in 2026.
As it commences underwriting operations in Singapore and Hong Kong, recently launched MGA, Prism, has appointed Mr Luca Ronsisvalle as Head of Marine Cargo and Mr Jan von Kamp as Head of Energy, Power and Renewables.
QBE has announced two new appointments for its Singapore marine business.
PRISM, a newly founded managing general agent (MGA), has officially launched in Singapore and Hong Kong, backed by seasoned industry professionals and specialty insurer and reinsurer Convex, as well as Efinity Insurance Solutions (EIG). A press release from PRISM stated that the company opened for business on 18 December.
Marine insurer The Standard Club Asia will cease writing insurance business from 20 February 2026 and enter run-off. It will also stop issuing any new or renewal policies from 9 December 2025, according to a press release from NorthStandard.
HDI Global has appointed Mr Peter Schraa as Head of Marine in Singapore. In his new role, he will work closely with local underwriters in HDI Global's Singapore office to further develop the marine portfolio.
Podium Underwriting has been launched as a specialist MGA, operating as an appointed representative of Superian Insurance Group.
Marine insurance provider NorthStandard is raising P&I premiums by 5%, effective 20 February 2026, amid market unpredictability and risk. The announcement was made in a 17 November press release.