LONDON, March 24, 2026 /PRNewswire/ -- Chaucer Group ("Chaucer"), the global specialty (re)insurance group, and Ceto AI ("Ceto"), the technology company modernising maritime risk, today announce the launch of a new marine Managing General Agent (MGA), operating as a Lloyd's coverholder.

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 ("TMK"), a leading insurer and member of the Tokio Marine Group. Ceto uses high-frequency vessel machinery and performance data to inform underwriting decisions.

The launch marks a significant development in the application of real-time operational data within the Lloyd's marine market, introducing a data-led underwriting model designed to enhance risk selection and accurately reflect the condition and performance of insured vessels.

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. The MGA's underwriting method aligns insurance capacity more closely with demonstrated performance and maintenance standards, supporting a more forward-looking, differentiated approach to risk assessment.

The MGA is underpinned by Ceto's Watchkeeper platform, which provides continuous machinery monitoring and predictive performance insights. By integrating underwriting with live operational data, the model moves beyond periodic surveys and point-in-time assessments, enabling more dynamic evaluation of vessel condition and risk. It will focus on vessels capable of producing onboard machinery sensor data to support this.

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

"The marine hull market is operating in an increasingly complex environment. brought about by ageing fleets, rising repair costs, geopolitical disruption, and regulatory pressure," says James Irvine, head of global marine hull lines at Chaucer. "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 data-led approach of this new MGA complements our focus on innovation and technical excellence," says Rob Jarvis, Divisional Head of Innovation and Portfolio Solutions at TMK. "We're pleased to support an initiative that brings greater transparency and forward-looking insight to marine risk."

Media enquiries

For Chaucer:

Jamie Newton

Chaucer

jamie.newton@chaucergroup.com

Caroline Klein, Olivia Thomson, Finlay Gardner

Haggie Partners

+44(0)207562 4444

chaucer@haggiepartners.com

For Ceto:

Kathy Osborne

press@ceto.ai

About Chaucer

Chaucer is a leading global specialty (re)insurance group, operating in Lloyd's and company markets. The firm underwrites a broad range of specialty risks, combining deep underwriting expertise with disciplined risk management to deliver sustainable outcomes for brokers and clients worldwide.

About Ceto

Ceto is a technology company specialising in predictive analytics for the maritime industry. Its solutions help shipowners and operators prevent machinery failures, reduce unplanned off-hire, and generate real-time performance insights. By integrating operational data with insurance underwriting, Ceto is supporting a more resilient and data-driven marine insurance market.

Tokio Marine Kiln

Tokio Marine Kiln is a leading specialist insurance underwriting business operating in the Lloyd's insurance market. Through our operations in the UK, US (Tokio Marine Highland) and Asia Pacific, and as part of one of the world's largest insurance groups, Tokio Marine, we protect customers around the world against complex and ever-changing risks. We have eight underwriting teams focused on Property & Motor; Liability; Aviation; Cyber & Enterprise Risk; Marine & Energy; Special Risks; Portfolio Solutions andSpecialty Reinsurance, which are complemented by our "outstanding" Claims service.

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