Chaucer Group and Ceto AI have announced the launch of a new marine managing general agent.

Under the arrangement, Ceto is authorised to bind marine hull risks on behalf of Chaucer’s Lloyd’s syndicate, with additional capacity provided by Tokio Marine Kiln.

The new MGA said that, with the global fleet now averaging more than 22 years of service, vessel age and other uniform parameters in isolation are an increasingly blunt indicator of risk – adding that its underwriting method will “align insurance capacity more closely with demonstrated performance and maintenance standards, supporting a more forward-looking, differentiated approach to risk assessment.”

Tony Hildrew, CEO and founder of Ceto commented: "Marine insurance has historically relied on static information and historic loss data, despite vessels generating vast amounts of operational data every day. Working alongside Chaucer and Tokio Marine Kiln allows us to apply this capability within a disciplined, established market framework.”

James Irvine, head of global marine hull lines at Chaucer, added: “The marine hull market is operating in an increasingly complex environment brought about by ageing fleets, rising repair costs, geopolitical disruption and regulatory pressure. Access to high-quality, real-time operational data represents a meaningful evolution in underwriting discipline. Ceto’s approach provides greater visibility into how vessels are actually performing, allowing underwriters to assess risk based on live condition rather than historic proxies alone.”

The MGA is underpinned by Ceto’s Watchkeeper platform. It will focus on vessels capable of producing onboard machinery sensor data.

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