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P&I financial performance only looks awful

Clubs lost hundreds of millions of dollars on underwriting last year. But not as many hundreds of millions of dollars as they did the year before

The chief executive of the world’s largest marine mutual and the head of P&I at the world’s largest marine insurance brokers are in accord that clubs are out of an unsustainable black hole. After three years of inflation-plus rate hikes, there should not be a fourth

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