Daily Digest: Hull and machinery rates soften, Building a climate finance ecosystem, Conduit Re CEO steps down

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Discounts are out there for 1/4 hull renewals, market sources confirm Underwriters have begun to ease up on hull and machinery (H&M) rates to maintain market share in the April 1 renewals, according to market sources. Anecdotally, double-digit percentage point falls on last time round are being talked about, although owners should not see that as an inevitable benchmark, they stressed. In practice, quotes vary widely between owners, depending on such variables as loss record, size of fleet, no claims bonuses and deductibles, among others.