Shipowners are expected to reap rewards from declining hull and machinery premiums, according to leading marine insurance broker Gallagher Specialty.
Premiums for hull and machinery cover are expected to dip amid increased competition among underwriters drawn by the stronger market in recent years, the broker said.
The most-respected shipowners with the best-maintained fleets are likely to benefit the most from a softening insurance market, with some of the major players in the London market setting ambitious premium growth targets this year.
