Technical underwriting problems are not new, but with a tough reinsurance outlook, there is considerable pressure for both Clubs and ultimately their members.
Marine P&I Pre-Renewal Market Update

At this stage, it is important to add that we do not expect a flurry of similar announcements from across the International Group and, fundamentally, the Group remains a well-capitalised and resilient system.

In terms of the coming renewal period, we anticipate general increases or internal targets (for those Clubs without GIs) in the region of 7.5% to 15%, with the potential for outliers either side of this.

Please read our full summary of the year and prevailing market conditions by clicking on the link below: