Insurers face most challenging P&I renewals in a decade, Willis warns
The upcoming P&I renewal could be the toughest in a decade as difficult economic conditions for ship operators, poor underwriting results and a slew of large claims threaten to create a "perfect storm", according to Willis.
The P&I market results for 2011/12 showed a 13% increase in incurred claims, a 5.9% underwriting loss and only a 2.7% investment return, Willis Global Marine said in its P&I Market Review.
Total
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Broker
Why insurers should be forced to signpost customers properly
Editor’s View: The Association of British Insurers and British Insurance Brokers’ Association’s signposting commitment is a step forward, but Emma Ann Hughes fears without rules and enforcement too many vulnerable consumers will still be left without access to cover.
How are insurers enabling greener choices in construction?
View from the Top: Gemma Tait, head of construction for Europe, the Middle East and Africa at Willis, looks at the changing practices and novel products insurers are rolling out to help build a more sustainable construction sector.
Throwback Thursday: Record fire loss; Sedgwick buys broker
Insurance Post’s Throwback Thursday steps back in time to January 1991 to remind you what was going on this week in insurance history when fire claims surged and Sedgwick was buying a broker.
Biba’s manifesto requests new Financial Services Bill in 2026
The British Insurance Brokers’ Association launched its manifesto for 2026 today (14 January), titled ‘Economic resilience’. Tom Luckham breaks down the main points, including a focus on cyber and a legislative wish list.
Inflexion acquires Ascend in regional broking push
Private equity firm Inflexion has bought Essex-based broker Ascend, with the two announcing the launch of a new broking platform focussed on the regional broking market.
Throwback Thursday: Thatcher’s honours; General Accident boycott
Insurance Post’s Throwback Thursday steps back in time to January 1991 to remind you what was going on this week in insurance history when former prime minister Margaret Thatcher honoured insurance men and brokers’ plans to teach General Accident a lesson were thwarted.
Ex-Esure CEO re-emerges as Jensten chair
Former Esure CEO David McMillan has been appointed non-executive chair of the Jensten Group board.
Big Interview: Robert Kennedy, Howden
Howden’s UK and Ireland CEO Robert Kennedy shares his growth plans for the business and explains why the broking giant won’t abandon the high street any time soon.