Apollo has partnered with Munich Re Syndicate and Tokio Marine HCC International to lead the new Lloyd’s Marine Builders’ Risk Consortium.

The new consortium, which went live earlier in 2024, builds on an established hull collaboration, on which Apollo has partnered with MRSL since 2019.

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

Apollo already has a position in this sector, with the recent appointment of Kyu Byun from WTW The need for lead capacity in London comes as the shipping industry transitions to greener energy and sees an expansion in naval shipbuilding.

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. Kyu’s appointment, our cooperation with the surveying community, and the extra firepower that the new consortium brings means that Apollo and our partners in this venture are well positioned to take advantage of this exciting opportunity.”

Dominick Hoare, chief underwriting officer of Munich Re Specialty Group, added: “I’m pleased our continued partnership with Apollo has enabled this new consortium. The global landscape remains a challenging environment, so we look forward to furthering the service we can provide to our valued clients.”

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