Protection and indemnity insurers are targeting the fast-growing offshore wind market for mutual and fixed premium business lines.

Offshore is now one of the most attractive growth areas for International Group of P&I Clubs members.

Clarksons Research recently highlighted the growth in marine services related to the market, with a study showing $22bn of capital expenditure in 2022 and $52bn expected this year.

The fleet supporting offshore wind farm construction and maintenance has reached 1,283 vessels and there are 190 under construction.