New shipbuilding risk cover launched at Lloyd’s

A new shipbuilding risk cover has been launched at Lloyd’s of London.

The Builders’ Risk Consortium has been formed by Apollo in partnership with Munich Re and Tokio Marine HCC International.

The new consortium offers brokers lead line capacity up to $75m each vessel.

“The need for lead capacity in London comes as the shipping industry transitions to greener energy and sees an expansion in naval shipbuilding,” the partners stated in a release.

Iain Henstridge, leader of Apollo’s Hull Class, said: “This new consortium offers Lloyd’s brokers a genuine alternative, giving them a new route to market for their producers. These are often highly complex and technical risks and we have a great team in place to service this exciting class, as well as our existing business.”



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