How does climate change impact marine and offshore energy risks?

With extreme weather events increasing due to climate change, risks are heightened for ship owners, insurers, and offshore energy projects. Many insurers incorporate advanced modelling techniques to assess and mitigate these evolving threats.

Why do you need Energy reinsurance?

With the growing impact of climate change and shifting geopolitical risks, ship owners and offshore energy operators face increasing uncertainty. Energy reinsurance provides a safety net, helping businesses manage unexpected financial shocks and a sense of stability.

What are reinsurance solutions?

Reinsurance solutions are tailored arrangements that meet the specific needs of insurance companies, covering various product lines to ensure comprehensive protection against diverse risks.

What role do reinsurance programmes play for insurance companies?

Reinsurance programmes provide essential risk management for insurance companies, enabling them to manage their exposure to large claims and stabilise their financial performance.

How do you support Offshore Energy projects?

We offer specialised Energy reinsurance coverage for Offshore Energy projects, ensuring they are protected against unique risks associated with the offshore environment.

What is the difference between pro-rata and excess of loss basis?

Pro-rata reinsurance involves sharing the premiums and losses between the insurer and reinsurer in proportion to the agreed terms, while excess of loss reinsurance provides coverage for losses that exceed a specified amount.

What types of reinsurance coverage do you provide for the energy and marine sector?

We provide coverage for a variety of marine energy and specialty classes, including hull, cargo, specie, marine and energy liabilities, energy, war, political violence and terrorism, and political risk.

How does Marine Treaty insurance work?

In a Marine Treaty arrangement, insurers cede a defined portion of their Marine insurance portfolio to a reinsurer in exchange for a premium. The reinsurer assumes liability for losses within the agreed-upon parameters outlined in the treaty.

What is Marine Treaty insurance?

Marine Treaty insurance refers to a reinsurance arrangement where insurers transfer a portion of their marine insurance liabilities to a reinsurer through a treaty agreement. It allows insurers to spread their risk and manage their exposure more effectively. Canopius insurance offers world-wide coverage.

Marine & Energy Treaty Reinsurance

Comprehensive Marine and Energy Treaty reinsurance services with global expertise and flexible solutions. We partner with insurers and energy companies to deliver reinsurance strategies that support long-term stability and growth.

Our services for the Marine & Energy sector

We write a world-wide portfolio on a pro-rata and excess of loss basis, which is split between the London market and international business. Coverage is provided for the following marine and energy specialty classes of business:

Cargo
Energy
Fine art and specie
Hull and machinery
Inland marine
Marine and energy liabilities
Marine war
War, Terrorism and Political Violence
Yachts

We offer consistency and technical expertise on pricing, with strong modelling capabilities. Our team is empowered to make decisions; we adopt a flexible approach and seek to provide an efficient service for our clients.

What sets us apart

Capacity of $30m (USD) any one programme on a lead and follow basis.
Our Head of Marine Treaty is chair of the LMA Joint Excess Loss Committee and sits on the LMA Marine Committee.
Our team is empowered to make decisions; we adopt a flexible approach and seek to provide efficient, bespoke service for our clients.
The ability to write XOL, Pro-Rata and Retrocessional business.
The team has more than 100 years of combined experience within the Marine and Energy reinsurance Treaty market.
We ensure we understand our clients’ business, their approach and their ultimate ambition.
We offer a broad range of products through all of the Canopius platforms.
We offer consistency and technical expertise on pricing, with strong modelling capabilities.

Our reinsurance solutions are designed to provide long-term security for insurers, helping them navigate the complexities of Marine Energy and Offshore Energy risks. We also support energy companies with dedicated Energy insurance solutions tailored to mitigate sector-specific risks.

Geographical locations

Currently Canopius will accept risks from all international locations except Iran, North Korea and Cuba.

We provide comprehensive treaty reinsurance solutions, ensuring global coverage for our clients’ needs. Our international reach allows us to support energy companies and insurers across the entire energy industry.