The February round of P&I club renewals will see shipowners facing substantial premium increases.
Marsh managing director, marine hull and liability, Marcus Baker said there would be average increases of 20% across the market. These increases come despite improvements in 2002/2003 underwriting results.
Rising reinsurance premiums played a part in these hikes, following the renegotiation of the International Group of P&I clubs' reinsurance deal. Baker said passenger vessels had been hit hardest, with renewal premiums rising by more than 80%.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
