Acies MGU (Acies), a technology and data-driven managing general underwriter (MGU) specialising in the creation and management of niche insurance businesses, has announced its expansion into the marine insurance sector through the launch of TEDmar International (TEDmar), a managing general agent dedicated to the ports and terminals market.
The new business will be led by experienced marine insurance professionals Mark Trevitt, who has been appointed Managing Director, and Charlie Newman, who joins as Director of Underwriting.
According to Acies, Trevitt has more than 35 years of experience in marine underwriting, with a particular focus on ports and terminals risks. His previous roles include leading ports and terminals underwriting initiatives at Navigators, Travelers Syndicate and IGI, while his international experience also includes Lloyd’s Asia in Singapore.
Newman also joins from IGI and brings more than a decade of experience underwriting ports and terminals risks. Before moving into underwriting, he spent six years working for insurance brokers Marsh and JLT.
The company stated that TEDmar’s international proposition is fully backed by a consortium providing Lloyd’s capacity and is designed to meet the insurance needs of port authorities and ports and terminals operators. Cover includes liability, property, equipment and operational risks, extending to assets such as warehouses, buildings and hard standings, cargo handling equipment ranging from forklifts to gantry cranes, as well as supporting port craft including pilot cutters.
The new MGA can provide limits of up to $25 million for both liability and property damage, while its offering also includes cover for business interruption and other operational assets considered essential to the day-to-day running of ports and terminals.
Managing Director at TEDmar, Mark Trevitt, said: “TEDmar brings proven expertise to the ports and terminals market, with our team having built three of the largest and most profitable P&T portfolios in London from scratch. We apply a disciplined, individually underwritten approach to this complex market.
“Our deep understanding of the specialised exposures, from marine professional indemnity to port property and business interruption, positions TEDmar as the new experts serving port authorities, terminal operators, and the broader shipping ecosystem.”
Mark Heath, Chief Executive Officer of Acies MGU, added: “Acies is keen to establish a strong presence in the marine market, and we’re confident that TEDmar offers that first vital step in demonstrating our ability and expertise in this complex market. Mark and Charlie’s combined experience and track records speaks for themselves. They are leading experts in marine insurance, and we’re looking forward to supporting TEDmar’s growth as Acies expands its diverse portfolio of specialist MGAs.”
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