Lloyd's List is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call UK support at +44 (0)20 3377 3996 / APAC support at +65 6508 2430

Printed By

UsernamePublicRestriction

Marine re/insurers and brokers head for Russia exit

Allianz and Swiss Re announce withdrawal in light of Ukraine invasion

Moves follow similar decisions by host of big-name brokers

MAJOR re/insurers Allianz and Swiss Re, who write marine business among many other lines, have joined the list of companies exiting from the Russian market in the wake of Vladimir Putin’s invasion of Ukraine.

Allianz retains a substantial presence in London hull, although Swiss Re switched its hull book from London to Genoa in 2019.

The moves from the two firms follow similar recent decisions from brokers Marsh, Aon and Willis, all active in the marine market.

Allianz said in a statement that it will not insure new business or making new investments in Russia. Russia and Ukraine account for 0.3% of its investment portfolio of about $885bn.

Swiss Re said that it would comply with the sanctions applied to Russia and will neither renew business in the country nor close new contracts.

 

Related Content

Topics

UsernamePublicRestriction

Register

LL1140165

Ask The Analyst

Please Note: You can also Click below Link for Ask the Analyst
Ask The Analyst

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel