RSA Insurance has announced that it is expanding its marine offering with the launch of a new superyacht practice, led by Emily Grew, who will join as Senior Yacht Underwriter in July.
The RSA says superyacht ownership has grown significantly in recent years, with purchases of luxury yachts (longer than 30m) increasing by more than 8% in the first nine months in 2021, compared to the same period in 2019, according to an industry publication.
Emily Grew has over a decade and a half of insurance experience, most of it as a yacht specialist. He began his career in insurance broking and worked for AIG, Miller Insurance Services, JLT Specialty and CRS Yachts.
Grew moved to Chubb in 2019 as a Yacht Underwriter and is now a Senior Yacht Underwriter. During his time there, he was responsible for establishing and building the firm’s London Yacht Practice.
Calvin Gray, RSA Insurance London Market Marine Director, and to whom Grew will report said, “We continue to look for market opportunities where we can create pockets of lead or niche expertise, which can deliver higher time return for us as a business.
“The Superyacht market has gone through a significant recovery in the last four years, and this represents a great opportunity for us to enter the market.”
He continued, “Through our analysis of the market and competitors, we believe that with our global capabilities there is an opportunity to bring a leading offer to the market and build a unique proposition with technical capabilities and expertise at its core.
“I am very pleased that Emily is joining us to lead the new practice. When we decided this was an area for us to expand, there was only one person we wanted to build our offering on. His expertise in this area is unmatched and he has a great reputation in the market. “