We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. Close


Informa Insurance News 24


Protection and indemnity (P&I) clubs do not need general increases in the coming renewal round and should price based on owners’ individual loss records instead, according to the managing director of the marine and cargo division at Marsh JLT Specialty. Mark Cracknell spoke after West of England became the first International Group affiliate to unveil its negotiating stance for the next 2021/22 renewal round, announcing a 15% general increase that ranks among the highest seen in the International Group in recent years. Many are inevitably wondering whether that represents a bellwether for the rest of the pack, which will go public one by one over the coming weeks. Given almost all International Group entities are reporting high combined ratios, several topping 130%, the widespread expectation is for further pain after the high single-digit price hikes seen over the past two rounds. But Cracknell told a Lloyd’s List marine insurance podcast he will be setting out his anti-general increase position in full in a forthcoming report from Marsh, which will be published within days.

The rest of this document is only available to i-law.com online subscribers.

If you are already a subscriber, please enter your details below to log in.

Enter your email address to log in as a user on your corporate account.
Remember me on this computer

Not yet an i-law subscriber?


Request a trial Find out more