Thursday, 18 April 2013
Marsh targets German marine business
Insurance broker Marsh is aiming to increase its marine business in Germany and is targeting ship owners and KG companies.

Marsh is not put off by the dire state of the maritime industry in which ship owners are suffering from low charter rates while the once renowned KG market is seeing a wave of insolvencies.
In Germany, most ships are purchased via the KG scheme. Private investors provide equity for the ship and the remainder is financed by a bank loan. Now, many of these KG financed vessels are facing insolvency and investors are not prepared to provide money for such projects.
"The ships are still there; there are 3,500 to 4,000 ships in Germany which still need to be insured," said Michael Hogger, newly appointed Marine Practice Leader at Marsh's Hamburg-based shipping team. "Markets are difficult, but we expect a turning point in 2015 or 2016," he told Commercial Risk Europe.
Please sign up here to our full-time mailing list to ensure that you receive our weekly newsletter.
Atradius says German economy has lost momentum
Steady as she goes – Christian Hinsch, HDI
Time for a…common language – Christian Hinsch & Jens Wohlthat, HDI
Aon says German corporate market has turned
Risk disinformation debate set to run & run-comment
Losing 'Made in Germany' stamp of approval big risk for German companies
Buyers not providing sufficient risk information bemoan insurers
D&O gimmicks not worth the bother and run tax risk says reinsurer
Broker demands return to all-risk liability policies
Hydrofracking risk the big unknown warns lawyer
Marsh tackles claims concerns with new service
Demand for credit cover on the rise again in Germany
German and French companies least prepared for IT failing or cyber attack
Moody’s sticks with negative outlook for German insurance market
Zurich sets out new strategy for Germany with SME focus
Munich Re steps further into brave new world of offshore wind
Greimel to stand down at DVS
Germany's €50bn cyber cost necessitates specialist cover says broker
Compliance departments under pressure as scandals mount









