RSA ventures into superyacht market with senior Chubb/JLT hire
RSA Insurance has bolstered its marine portfolio by venturing into the growing superyacht market, bringing on board a seasoned yacht specialist who previously worked at Chubb, AIG, and JLT.
Emily Grew will join RSA as a senior yacht underwriter in July. The new practice will provide comprehensive cover for owners of superyachts, focusing on the larger end of the market.
RSA stated that superyacht ownership has grown significantly in recent years, with purchases of luxury vessels (longer than 30m) increasing by more than 8% in the first nine months of 2021, compared with the same period in 2019, according to an industry publication.
Grew has more than 15 years’ experience in insurance as a yacht specialist. She started her career in insurance broking and has worked for AIG, Miller Insurance Services, JLT Specialty and CRS Yachts. She moved to Chubb in 2019 as a yacht underwriter and is currently a senior yacht underwriter. During her time with Chubb, she was responsible for establishing and building out the company’s London yacht practice.
Calvin Gray, London Market marine director said: “We continue to look for opportunities in the market where we can build pockets of lead or niche expertise, which can deliver a longer-term return for us as a business. The Superyacht market has been through significant remediation over the past four years, and this represents a good opportunity for us to enter the market.
“Through our market and competitor analysis, we believe that with our global capability there is an opportunity to bring a lead offering to the market and build a unique proposition with technical capability and expertise at its core.
“I’m really pleased Emily has joined us to lead the new practice. Once we decided this was an area we were going to expand into, there was only one person we wanted to build our offering. Her expertise in this area is unrivalled and she has a great reputation in the market.”
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