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HDI Global Specialty enters marine hull and machinery London market

HDI Global Specialty enters marine hull and machinery London market | Insurance Business UK

HDI Global Specialty enters marine hull and machinery London market

If you want to get a new specialist area off the ground, then why not turn to an industry veteran with more than 20 years of market experience?

That is exactly what HDI Global Specialty SE has done by bringing in Michelle Boyd (pictured), who makes the switch from AXA XL where she was senior marine and hull underwriter. She will now head up the insurer’s entry into the marine hull and machinery London market.

The specialist segment will offer coverage for vessel owners, charterers, financiers and managers, and includes freight and total loss interests, as well as war risks for physical loss or damage, shipbuilding and conversion risks, and collision liability.

“The London marine market remains one of the key global centres for marine insurance and market conditions remain upbeat,” said HDI Global Specialty SE UK managing director Richard Taylor. “Bringing Michelle in has enabled us to continue our growth strategy and add to our specialty lines portfolio.”

“HDI Global Specialty takes a long-term approach to clients and broker partnerships and has a strong reputation in the market,” added Boyd. “I’m looking forward to leading their London market move into Marine Hull and Machinery insurance.”

The move also follows on from the announcement that HDI Global has bought out Hannover Re’s 49.8% stake in the specialty business – meaning it now owns 100%. You can read about that move in-depth here.