Leading marine insurance broker Marsh JLT Specialty has advised shipowners that protection and indemnity clubs may not be losing as much money on their underwriting activities as they claim.
P&I mutuals have been telling owners that costly casualties and years of low premiums are now stretching financial resources.
But Marsh JLT’s financial review of the 13 members of the International Group of P&I Clubs indicates that the shipowner mutuals are as financially strong as they have ever been.
