International Group of P&I Associations – 2016 Market Review

P&I Market Report – November 2016

We are pleased to launch our latest annual report on the International Group (IG) Protection & Indemnity (P&I) market.

In our report we discuss a more than usually eventful year so far where the proposed merger between Britannia and UK Club dominated headlines. The proposed “mega-club” could have posed a number of questions for smaller clubs trying to keep their services relevant. Ultimately, the deal fell through, partly due to an inability to make a compelling financial case; but also because club members appear to place a high value of their associations’ individual identities.

The clubs have prospered in recent years and now find that success brings its own problems in the form of excess capital, we look at the options for using it – we express a strong preference that it should be returned in part at least by significant reductions in P&I rates.

Also, in this report as the IG prepares to place its reinsurance programme JLT Re provides an insight into current market conditions.

In addition, we analyse the issues that face the 13 IG P&I clubs in a Q&A with senior managers.

Download P&I Market Report

For further information, please contact Mark Cracknell, Senior Partner, Marine Division on +44 20 7558 3816 or email mark_cracknell@jltgroup.com

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