Will there be club mergers? Is diversification from core protection-and-indemnity business a good idea? And how is the competitive threat from the fixed-premium market developing?
There is never a shortage of controversies in the P&I market, so TradeWinds caught up with Willis Towers Watson (WTW) global marine chief executive Ben Abraham to discuss his views on these issues.
Mergers
There have been no overt club merger initiatives since the proposed tie up between the UK and Britannia P&I mutuals fell apart almost 18 months ago, so are such deals off the agenda?
Abraham suggests there is a less convincing argument for mergers or acquisitions among mutuals than for commercial insurers because the economies-of-scale debate is weaker.
