Arrow Risk Management, a London-based managing general agent, has launched a marine insurance practice on its specialist underwriting platform. Wayne Krause (pictured) has been appointed underwriting practice leader in a move that extends Arrow's specialist portfolio into cargo and logistics risks.
The practice will write marine cargo, stock throughput, project cargo and delay in start-up, and logistics operators and freight forwarders liability on a global basis. Coverage will span SME, mid-market, and larger corporate clients across complex international supply chains.
Krause brings more than 30 years of experience across underwriting and broking in the international marine insurance market. His background includes senior roles at Hollard Marine, Marsh, Tokio Marine Kiln, Zurich Financial Services, and Aviva Global Corporate & Specialty. That experience spans the London Market, North America, Europe, and Southern Africa.
Houthi forces have declared a formal blockade of the Red Sea while concurrent pressure builds on the Strait of Hormuz. The two waterways together carry an estimated 30% of global container shipping. Standard cargo policies do not respond to delays or precautionary rerouting, and the coverage gap they create has put specialist underwriting in demand.
Marine insurers have maintained capacity across cargo, hull, and liability lines. The International Union of Marine Insurance (IUMI) has stated that coverage remains available for well-presented risks in high-risk corridors. Specialist markets are increasingly bundling cargo cover with war, terrorism, and political risk as overlapping exposures require integrated solutions.
IUMI data puts total global marine insurance premiums at US$39.92 billion in 2024, a 1.5% increase from 2023. IUMI's secretary general Lars Lange has cited geopolitical tensions, climate risks, and currency fluctuations as factors likely to influence results through 2025 and beyond. London market cargo capacity now exceeds US$1.5 billion, and Alesco puts the achievable vertical limit at around US$2 billion.
Mark Harrington, Arrow's chief underwriting officer, said Krause brings "international market experience and strong broker relationships" to the platform. He added that Krause's background positioned him to build a portfolio across the marine cargo and logistics lines.
Krause said the firm had identified "strong opportunities across the marine cargo and logistics market, particularly where clients require specialist underwriting expertise," and that the practice would target complex international trading environments. Business will be written on the Arrow Hub, Arrow's MGA technology platform, on a global basis.
