Insurance broker Aon says it is unlikely that blanket double-digit general increases, which were imposed on protection and indemnity mutuals in February, will be repeated at next year’s renewal.

Aon said the strict rating approach at February’s renewal will go some way to helping P&I clubs rebuild their balance sheets after years of underwriting losses.

Figures for the policy year ending in February 2022 show that 11 of the 13 P&I mutuals have already improved their combined ratio, a key indicator of underwriting performance.