MS Amlin and Ascot lead $400mn marine claim

MS Amlin is the lead insurer on the primary layer for a $400mn
marine cargo claim by Canadian commodity hedge fund Vermillion
stemming from a lost oil shipment, The Insurance
Insider understands.
Ascot is understood to lead the first excess layer on the
placement, which attaches at $250mn
Sources said that reinsurance renewals at 1 January were
conducted with the loss "not taken into consideration"
owing to the uncertainty around the ultimate payout, and it is
unlikely to be fully...