Director says move represents ‘good opportunity’
RSA Insurance has announced it will expand its marine offering with the launch of a new superyacht practice.
The new practice will provide comprehensive cover for owners of superyachts and focus on the larger end of the market, according to a statement announcing the launch today (2 May 2023).
RSA said it made the move with superyacht ownership growing “significantly” in recent years.
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.”
As part of the move, Emily Grew will join RSA as a senior yacht underwriter in July 2023.
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.
She will report to Gray in her new role.
Gray said: “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.”