Prime Highlights-
- Acies MGU launches TEDmar International, a new MGA specializing in ports and terminals, backed entirely by Lloyd’s capacity.
- Marine veterans Mark Trevitt and Charlie Newman lead the business as managing director and director of underwriting.
Key Facts-
- TEDmar offers up to $25 million capacity for liability and property damage cover.
- TT Club insures around 80% of the world’s maritime containers globally.
Background-
Acies MGU has launched TEDmar International, a new managing general agent focused on ports and terminals. Marine market veterans Mark Trevitt and Charlie Newman lead the business, which carries backing from a consortium of Lloyd’s capacity.
Trevitt joins as managing director, bringing more than 35 years of experience as a marine underwriter. He previously led ports and terminals initiatives at Navigators, Travelers Syndicate and IGI, including a stint at Lloyd’s Asia in Singapore.
Newman joins as director of underwriting, arriving from IGI with more than 10 years of ports and terminals experience, including six years at brokers Marsh and JLT.
TEDmar provides a full range of cover for port and terminal operators and port authorities, spanning liability, property, equipment and operational risks. Coverage extends to port buildings, warehouses, hard standings, handling equipment such as forklifts and gantry cranes, and ancillary port craft including pilot cutters. Capacity reaches $25 million for both liability and property damage sections, with cover also available for business interruption losses.
Trevitt said the team built three of the largest and most profitable ports and terminals portfolios in London from scratch and applies a disciplined, individually underwritten approach to the market.
Acies MGU chief executive Mark Heath called the launch a strong first step in building the group’s marine presence, citing confidence in Trevitt and Newman’s combined expertise and track record.
TEDmar enters a market long dominated by TT Club, which insures around 80% of the world’s maritime containers and holds an insurable interest in more than 45% of the world’s top 100 ports.
The launch follows recent additions to the group’s specialist MGA stable, including Subscribe MGA in financial lines and Phoenix Specialty in construction.