P&I club free reserves could take $500m hit, Gallagher warns
The seven International Group P&I clubs that have so far declared financial results have clocked up a collective deficit of $163.4m and taken a $364.1m hit to their collective free reserves, according to the latest P&I Confidential Newsletter from Gallagher
Overall claims are rising, with 25 pool claims on the 2018-19 year reported to date, compared to 14 and 13 respectively in the two years prior
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