W/R/B Underwriting has put its London marine book under review while it considers its future appetite for the business, Insurance Insider has claimed.
W/R/B Underwriting, led by Alastair Blades, consists of W R Berkley Syndicate 1967 and WR Berkley Insurance (Europe) Limited (UK Branch) and is a unit of WR Berkley Corp. The combined operation was established in November 2015.
The marine team writes marine hull, liability, marine war, and cargo. The book is led by director of underwriting for non-static risks Louise Nevill.
W/R/B Underwriting will continue to service the existing London marine book, but has elected not to renew or write new business, Insurance Insider claimed.
In 2015 W/R/B Underwriting contributed 38.9% of GWP for Insurance International ($778m), and short-tail lines, which includes commercial multi-peril (non-liability), inland marine, accident and health, fidelity and surety, boiler and machinery, made up 50% of this – equal to $151m in. total. Marine is thought to make up about 20% of this.