At least some of the protection-and-indemnity (P&I) clubs should forgo a general increase at the next renewal round following growth in their free reserve, according to the Arthur J Gallagher insurance broking group.
In its latest P&I Confidential review, the broker argues that last year produced a better-than-average result for the P&I mutuals but questions whether this will be reflected in a number of clubs seeking a zero general increase in the autumn.
Gallagher
