It is noted that, of the thirteen International Group (IG) P&I Clubs, οnly one (Messrs. West of England) applied a general increase, which amounted to 5%. P&I underwriters commented that during next year’s renewal negotiations it is quite likely that many IG P&I clubs along with fixed premium providers, may apply a general increase. None excluded the possibility of increasing deductibles at the same time as well. What is more, at this early stage, 2018/19 pool claims appear to be higher than most recent years. The above seem to suggest that the P&I market shall most likely harden in the course of the year.
As a final note, it appears that there were no major fleet movements during renewal negotiations.