P&I clubs are right to keep a tight grip on $5.5bn cash reserves

Broker hits back at Marsh Specialty's view that protection and indemnity mutual should use their reserves to soak up losses — rather than impose general increases

2020 is likely the highest on-record pool claim year and 2021 has also seen major incidents. The 2,743-teu X-Press Pearl (built 2021) is pictured after a fire off Sri Lanka on 2 June.
2020 is likely the highest on-record pool claim year and 2021 has also seen major incidents. The 2,743-teu X-Press Pearl (built 2021) is pictured after a fire off Sri Lanka on 2 June.Foto: Sri Lanka Navy
Published 14 September 2021, 06:01Updated 14 September 2021, 06:01
Protection and indemnityInternational Group of P&I ClubsAtlantic Insurance and Reinsurance Brokers