P&I clubs to see improved underwriting results: A.M. Best

According to A.M. Best Co. Inc., the protection and indemnity clubs will witness an underwriting upturn this year, however, negative investment results may offset any profit gains, Reinsurance News reported.

For the fourth consecutive year, most P&I clubs have announced general increases ahead of the Feb. 20, renewal date for shipowners. Nine clubs will apply a 10% increase to P&I premium rates, slightly below those of the previous year, when several clubs applied increases of 12.5%.