Top 10 in marine insurance 2018
The recent acquisition of rival Jardine Lloyd Thompson by Marsh’s parent company Marsh & McLennan Companies will surely cement head of marine Marcus Baker's position at the top of the marine insurers' table
As part of our 2018 Top 100 most influential people in shipping series, we look at the very best global insurance power-brokers. Following a difficult year, there are six new faces making their mark
01 / Marcus Baker, head of global marine, Marsh
MARCUS Baker has long been a fixture on the Lloyd’s List marine insurance Top 10s as head of marine at one of the giant brokers.
The recent acquisition of rival Jardine Lloyd Thompson by Marsh’s parent company Marsh & McLennan Companies will surely cement his position, given JLT’s substantial position in marine.
Mr Baker has been keen to ensure Marsh is seen as a thought leader in the niche. The reports it publishes each year on the big issues of the moment are required reading.
02 / Richard Turner, chief executive, RSA Luxembourg and president of IUMI
RICHARD Turner already has a big-league day job as global head of marine at RSA Group, a multinational general insurance company headquartered in London.
However, he enters the Top 10 on the back of his election as president of the International Union of Marine Insurance at that organisation’s conference in Cape Town in September.
An industry veteran of 35 years’ standing, Mr Turner has largely specialised in marine, starting out as a hull underwriter before running RSA’s marine market operations, first in London, then in Europe and ultimately worldwide.
Last year, he was appointed managing director of RSA’s global speciality business in Europe, relocating to the Grand Duchy for the job.
Mr Turner replaces Munich Re’s Dieter Berg, both as IUMI president and on this list.
03 / Hélène Stanway, digital leader, AXA XL
INSURTECH has clearly been the marine insurance story of the year, after Insurwave — billed as the world’s first blockchain platform for marine insurance use — entered commercial operation.
Among the users is XL Catlin, where Hélène Stanway has attracted attention for her sound grasp of all things digital.
Her expertise stretches beyond blockchain into areas such as Artificial Intelligence, the Internet of Things, virtual reality and robotic process automation.
Ms Stanway has seen the future — and hopefully, it works.
04 / Helle Hammer, managing director, Cefor
CEFOR, the Nordic Association of Marine Insurers, is the main representative body for what is the largest single marine market outside London. Helle Hammer has been running the show since 2007.
Her CV includes early jobs in politics and the civil service, and a stint working in Houston for a state-owned investment institution.
Shipping posts have included various roles at the Norwegian Shipowners’ Association, Det Norske Veritas and Oslo’s prestigious Shippingklubben shipping club. Ms Hammer is also active in IUMI.
05 / Nick Shaw, incoming chief executive, International Group
IT’S all change in the world of marine insurance trade associations. Not only has Richard Turner replaced Dieter Berg at IUMI, but industry veteran Andrew Bardot is due to step down at the International Group of P&I Clubs, handing over to Nick Shaw.
Like Mr Bardot, Mr Shaw is a lawyer and joins from Reed Smith, where he was group industry leader.
He has worked with a number of IG-affiliated clubs in his career, with extensive experience of P&I and defence claims.
06 / Paul Newton, head of London marine hull and liability underwriting, AXA XL, and chair of the Joint Hull Committee
ANOTHER of this year’s new arrivals in senior industry positions is three-decade marine insurance veteran Paul Newton, head of London marine hull and liability underwriting at AXA XL.
Mr Newton has succeeded the highly influential Peter Townsend as chair of the Joint Hull Committee, and already holds the same position at the Marine Technical Committee of the International Underwriting Association. He is also a member of the Joint War Committee.
Comprising underwriting representatives from both the Lloyd’s and IUA company markets, JHC represents the interests of those who write marine hull business in the London market.
07 / Lucy Clarke, global chief executive, JLT Specialty
AFTER 16 years with Jardine Lloyd Thompson, Lucy Clarke was appointed to global chief executive of JLT Specialty in April this year. She remains chief executive of its marine and energy teams, and chair of northern Europe.
In 2019, Ms Clarke is set to become president of Marsh-JLT Specialty, the new operating unit to be formed following Marsh’s takeover of JLT. This will include responsibility for marine, as well as several other classes.
Ms Clarke, raised in the US, is arguably the most important woman in marine broking.
08 / Hans-Christoph Enge, managing partner, Lampe & Schwartze
MARINE insurance is not entirely a London and Asian affair. While the continental European market typically does not attract much media coverage, it is an important component of the bigger picture.
Bremen-based Lampe & Schwartze is almost certainly the main provider cover to German owners, and probably one of the most important players in all of Europe, according to our German sources. Mr Enge owns the firm.
09 / Philip Sandle, head of liability, Beazley
PROFESSIONAL peers are the ultimate judges of how well you do what you do, and Philip Sandle passes that test, being the only marine specialist to make it into the top 10 of the most recent Gracechurch survey of underwriters across all disciplines, out of 800 nominations.
Mr Sandle has been with Beazley, in his current capacity, since 2103. He is also a member of the Joint Liability Committee at Lloyd's.
10 / Gavin Wall, underwriter, Ascot
ASCOT’S Gavin Wall started in insurance in 2003 with his current employers, and has since risen to become one of the most highly regarded underwriters specialising in cargo.
He is also a member of the Joint Cargo Committee, which represents the interests of cargo underwriters in London.
The Top 10 in marine insurance list is collated by the Lloyd's List editorial team and considers a mixture of traditional power-brokers in an insular niche, and those doing noteworthy things within it.