HDI Global Specialty enters marine hull and machinery market in London

Germany-based HDI Global Specialty SE has entered the Marine Hull and Machinery London market. It has announced the hiring of Senior Underwriter Michelle Boyd.

Boyd has over 20 years’ insurance market experience, covering both broking and underwriting roles. She joins the specialty lines insurer from AXA XL, where she was senior marine and hull underwriter.

The coverage offered by HDI Global Specialty will be for vessel owners, managers, charterers and financiers and includes freight and total loss interests, shipbuilding and conversion risks, loss of earnings and war risks for physical loss or damage and collision liability.

HDI Global Specialty SE UK Managing Director, Richard Taylor said that “the London marine market remains one of the key global centres for marine insurance and market conditions remain upbeat. Bringing Michelle in has enabled us to continue our growth strategy and add to our specialty lines portfolio.”

Michelle Boyd said that “HDI Global Specialty takes a long-term approach to clients and broker partnerships and has a strong reputation in the market. I’m looking forward to leading their London market move into Marine Hull and Machinery insurance.”

HDI Global Specialty SE is a specialty lines insurer. It is currently a joint venture of Hannover Re and HDI Global SE, part of the Talanx Group. However, last week Hannover Re announced that it would be divesting its 49.8% stake in the joint venture HDI Global Specialty SE to the majority shareholder HDI Global SE, effective December 31st 2021. Hannover Re is seeking to reposition itself as a dedicated reinsurer.