The Marine Account primarily covers hull and machinery risks on ocean-going tonnage on an 'All Risks' basis. In addition we insure yachts, port authorities, liabilities and some inland and coastal hull business. We have a geographically broad-based account, although most of our premium emanates from Europe and North America.
Our philosophy is to evaluate each risk individually and participate only where we are satisfied with the management's proven ability to operate their vessels. We have lines on roughly 8% of the world fleet. Our yacht account consists mainly of super and mega-yachts. Roughly 80% of our business is renewed year on year, and we are supported by all the major marine brokers.