Gallagher launches P&I Results Review

However, when Gallagher looked at the two years previous to 2023, it said: "we can see a clear sustained improvement - the calls adjusted financial year combined ratio, for the market, in 2021 was 121 per cent and in 2022 was 113 per cent. The significant levels of general increase, together with additional charges for the cost of the international group reinsurance programme, combined with a more benign claims environment to create this turnaround."