Archive: February 2025
Marine Alliance Acquires Majority Stake in Speedwell
Marine Alliance has strengthened its position in the marine insurance market by acquiring a majority stake in Speedwell, a London-based insurance broker specializing in Latin American marine insurance markets. This acquisition, reported on February 20, 2025, provides Marine Alliance with a strategic base in London and expands its reach into the Latin American sector. These developments reflect a trend of…
P&I Clubs Maintain Record-High Free Reserves Amid Technical Challenges
Despite ongoing technical performance challenges, Protection and Indemnity (P&I) clubs have maintained record-high free reserves, according to a recent report by AM Best. These reserves provide a financial cushion, ensuring that P&I clubs can meet their obligations to policyholders even in the face of adverse claims experiences. However, the report also highlights that social inflation and the increasing size of…
Trucordia Acquires Boater’s Insurance Agency
On February 19, 2025, Trucordia expanded its footprint in the marine insurance sector by acquiring Boater’s Insurance Agency, a San Francisco-based firm specializing in insurance solutions for the marine industry. This strategic move aims to enhance Trucordia’s service offerings and market presence across all 50 states. This strategic acquisition aims to enhance Trucordia’s offerings in the marine sector, leveraging Boater’s…
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