Australian insurance coverage firm QBE has expanded its marine providing in Europe to supply worldwide commerce protection for purchasers searching for native companies.
The insurer mentioned that the newest growth comes because the marine insurance coverage enterprise has excessive progress alternatives in Europe.
With a presence throughout 28 European nations, QBE has deployed a crew of underwriters throughout the European area.
Utilising worldwide experience, this crew of underwriters, working beneath the administration of QBE Europe Marine observe lead Tania Bensoussan-Arthur, delivers native service to QBE’s purchasers on the continent.
QBE started writing marine in France in October 2022, adopted by the Nordics area in April 2023.
The corporate is now launching marine choices together with Marine Cargo and Advantageous Artwork & Specie merchandise in Germany.
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It has additionally employed Lars Habersaat as marine underwriter and Philip Specht as senior marine underwriter, who will function from QBE’s Hamburg workplace.
Transferring ahead, QBE will concentrate on different European nations, with the Netherlands as its primary precedence.
Bensoussan-Arthur mentioned: “QBE has a long-standing marine enterprise and it is extremely thrilling for me to broaden and roll out the product line regionally into Germany after France and the Nordics.
“Commerce routes are altering; cargo dangers are evolving and our product goals at supporting the marine sector’s resilience.
“Worldwide commerce requires worldwide experience mixed with native information and our European crew will ship this cross-border competence tailor-made to country-specific wants.”
Citing statistics from the Worldwide Union of Marine Insurance coverage (IUMI), QBE highlighted that the marine insurance coverage market has witnessed sturdy efficiency in Europe whereas marine insurance coverage progress is slowing down in Asia.
IUMI’s knowledge exhibits that marine premiums rose by 8.3% to $35.5bn final yr and virtually half of this quantity, roughly 47.7%, originated from Europe alone.