No reduction in reinsurance costs is on offer to the three clubs in the Combined Group of War Risks Associations for the first time in many years.
However, no change appears to signal that the soft reinsurance market of recent years may be turning, even if there is nothing as tangible as a hardening market.
The outcome means that ships with war risks cover from a Combined Group club will pay an unchanged annual premium at the 20 February renewal of cover.
