The Gallagher P&I - 2023 Pre-Renewal Report. After seeing compound P&I increases of 30-50% in the last three years, is the hard market cycle finally over? Is Another Club merger on the horizon? Download our 2023 report here: https://lnkd.in/gThuyzTa
We've seen a startling turnaround in the underwriting performance of the clubs, following the reduction in the underwriting deficit in the prior year #ProtectionandIndemnity https://lnkd.in/gC43YeVu
In preperation for the 2025 P&I Renewal, we have prepared a high-level and forward-looking report covering the evolving landscape of the P&I market. Our enhanced Gallagher P&I 2024 pre-renewal review, will also be out in the next few weeks. Take at look at our 2025 renewal expectations here:
As we approach the 2025 P&I renewal season, our high-level pre-renewal review sheds light on the evolving landscape of the P&I market. Find out more: https://okt.to/LqvmJC
I’m happy to share that I’m starting a new position as Managing Director - P&I at Gallagher!
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Early summer outlook - P&I Market Update: What do we anticipate as regards the general increases to be sought in the late autumn? With underwriting returns having been stabilised and investment returns having offset the losses of the prior year and more, the figures tend to suggest that some clubs could be looking for a zero to 5% general increase or target increase. At this stage in 2024, we would expect to see the market look for an average of 4-5% in 2025. Check out our latest update:
We are pleased to share the latest insights from the P&I Club results mid-year review. This review covers the audited financial statements for ten out of twelve P&I Clubs for the 2023-24 cycle, highlighting notable trends and performance metrics. We talk about: 📢 Collective and overall surplus 📢 Free reserves 📢 Underwriting performance 📢 Investment earnings Learn more in the full review: https://okt.to/OB2UJm
Gallagher P&I: The MV Dali Bridge allision incident in Baltimore has sparked significant interest and discussion within the maritime industry due to its profound implications. Our recent article provides a detailed analysis of the incident, covering its causes, consequences, and ongoing legal and financial ramifications from a P&I perspective. Additionally, we explore the complexities of insurance and liability issues, regulatory responses, and the broader impact on the shipping industry.
Gallagher P&I hosted its annual P&I Club Managers Dinner at The Ned, in the City of London on the 5th March. The Gallagher P&I team were humbled to see so many industry leaders attend our special event. It’s amazing to think that 95% of the world’s fleet is insured in that very room - thats approximately 1.5 billion GT or around US$5 billion of P&I premium. We also handed our several awards to a number of Clubs for their achievements in the last year. Here are some photos a great evening!
Gallagher P&I contributed to The Shipping Podcast hosted by Lloyd’s List. David Osler covered the final week leading up to the 20th Feb 2024 P&I renewal. In addition to Gallagher’s views on the P&I renewal, there were further insights from Anna Vourgos from Aphentrica Marine and William Beveridge UK P&I Club. https://lnkd.in/etCdjH8m