Butthe profit for the P&I year that ends next week is described as “barely perceptible” compared to the $4.1bn that the clubs already hold as free reserves.
Therating agency sees the outlook for the clubs as mostly stable althoughS&P signals that the clubs strong capitalisation may be weakening.
Akey threat is that while total insured tonnage increased by about 4%, grosspremium calls are up by just 1% and the free reserves by 2.5%,
