We are delighted to see a second year without any general increases for all International Group (IG) P&I Clubs. Messrs. Britannia, Skuld, Standard and Steamship mutual clubs have even announced premium returns in various forms. Additionally, IG clubs have achieved a Re Insurance (R/I) reduction for their common re insurance programme, Hydra for all vessel types. The only thorn for this renewal is that some clubs have imposed an increase of deductibles. Despite the above encouraging facts which suggest that we are still in a soft market, there have been some frightful signs for the insurance industry as a whole. These signs include: director's decision of the Strike Club to impose a 7.5% general increase, inconsistent and in some cases unpredictable renewal approach of H&M underwriters, some insurance companies and Lloyd's syndicates are not renewing their H&M portfolio, IG pool claims are considerably higher at this point of the year’s development than in 2016/2017 and the recent multi billion typhoon catastrophes in Northern and Latin America. In view of the above signs, prominent figures believe that we are at a turning point.