WR Berkley suspends unprofitable marine business

WR Berkley has confirmed that its managing agency has suspended the the underwriting operations of its marine business in the London market.

Its $30 million marine book, which covers marine hull and yachts, cargo and specie, marine war and marine and energy liability, has since been placed under review.

The book is led by Louise Nevill, director of underwriting for non-static risks, who founded the book in 2010.

WR Berkley declined to comment further.