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Global P&I clubs expected to see improved results: Report

February 19, 2014 - 6:00am


A report by Standard & Poor's Corp. said the global marine protection and indemnity insurance industry is expected to see better results for the year to February 2014, Asia Insurance Review reported.

Standard & Poor's credit analyst Ali Karakuyu said "the expected improvement in underwriting could lead to a much-reduced combined (loss and expense) ratio" for International Group of P&I Clubs.

The report said "we foresee results for individual clubs in the International Group of P&I Clubs ranging from a surplus of $50 million down to a deficit of $20 million for February 2014.”

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