Rough Sailing Ahead For Marine Insurers? Underwriters challenged to maintain acceptable returns in the softening market

Since the market's origins over 300 years ago, marine insurance has been a constant at Lloyd's. Even the market's practice of issuing its accounts three years in arrears dates back to the establishment of marine insurance when it would take 36 months for a merchant vessel to circumnavigate the globe and return home.

However, the challenges faced by Lloyd's marine practitioners over the next stage of the insurance soft-market cycle are some of the most serious this sector of the institution has encountered during those three centuries.

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