An unequivocal call for a standstill to free reserve growth is made by Gallagher P&I chief, Malcolm Godfrey, in the latest edition of the broker’s P&I Confidential market review.
“Arthur J Gallagher would advocate that any club releasing back and/or current year surpluses back into the free-reserves should immediately return this to its members,” declared the report.
The broker says the argument for returning any surplus for the year to February 2016 is even more persuasive when it comes to back year releases.
In
