Marinex Underwriting Debuts in Australian Marine Insurance Sector

Marinex will initially offer four key products: Cargo, Carriers, Commercial Hull, and Marine Liability. Additional products are expected to be introduced as the agency seeks to expand its market presence.

Chris Kelly, CEO of Marinex, emphasised the agency's commitment to specialised expertise, stating their understanding of, the importance knowledge in the complexities of marine insurance, and knowing the importance of having a trusted partner with specialised expertise.

The launch of Marinex comes at a time when the global marine insurance industry is experiencing sustained growth. According to the International Union of Marine Insurance (IUMI), global marine insurance premiums increased by 5.9% in 2023, reaching US$38.9 billion. This growth reflects increased trade volumes and higher values of vessels and offshore energy assets.

For Australian businesses involved in marine activities, the entry of Marinex into the market offers new options for tailored insurance solutions, potentially enhancing coverage and risk management strategies.