There is plenty of cash in the protection-and-indemnity (P&I) clubs, according to the Aon broking group, which has taken a rear-view mirror look at the market after the 20 February renewal.
“Fireworks were few and far between,” according to Aon. But the broker suggests that in a “continuing tough shipping market, this was welcome news”.
Aon says the financial well-being of most of the 13 International Group clubs has never been better — but hints that free reserves may be more than what is required.
