The financial results most recently published appear to suggest that the P&I market is in full recovery mode – or, even, has already come out the other side. This year marks what is arguably one of the more unremarkable years for the P&I industry compared to previous years; the predictions from before play out over the past twelve months and the unfortunate fluctuations in the global economy and international trade continue to cause turmoil. However, the self-imposed delays in the hardening of the market (followed by a rather unwelcome sharp upturn in premiums) seem to be easing off as the claims performance across the International Group improves.

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