Apollo Syndicate Management has launched a new marine builders’ risk consortium in partnership with Munich Re Syndicate Limited (MRSL) and Tokio Marine HCC International.
The initiative builds on an established arrangement between Apollo and MRSL in 2019.
The new consortium offers brokers lead line capacity up to US$75 million per vessel, addressing the growing need for lead capacity as the shipping industry moves towards greener solutions and expands naval construction.
Previously, Apollo appointed Kyu Byun, specialised in marine construction and marine hull insurance, as a marine writer to bolster the company’s expertise and service offerings in this sector.
Iain Henstridge, leader of Apollo’s Hull Class, states: “This new consortium offers Lloyd’s brokers a genuine alternative, giving them a new route to market for their producers.
“These are often highly complex and technical risks and we have a great team in place to service this class, as well as our existing business.”
Dominick Hoare, chief underwriting officer at MRSL, says: “Our continued partnership with Apollo has enabled this new consortium. The global landscape remains a challenging environment, so we look forward to furthering the service we can provide to our clients.”
Apollo delivers diverse products and services to clients, brokers and capital partners at Lloyd’s through its Syndicates 1969 and 1971, covering a wide range of risks.
