Cna Insurance Company, formerly known as Maritime Insurance Company, is to stop writing cover for the yacht market in Europe.
A statement from the company said: "While the yacht market has hardened recently, we do not see that current rating levels have reached the level required to generate consistent, long-term profit, particularly given the costs associated with underwriting this class."
It added the move underlined CNA's decision to focus its European marine lines on core "business to business" insurance, in particular marine cargo.
CNA is one of the largest writers of marine cargo business in the UK.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
