Profitability of the leading protection-and-indemnity (P&I) clubs is set to fall in the wake of a soft renewal and a decline in premium income, according to the Standard & Poor’s (S&P) ratings agency.
An overall surplus of $155m for the 13 International Group mutuals is forecast for the year to last Monday’s annual renewal of cover by S&P, which has privileged access to club accounts as part of the rating process.
S&P
