Reinsurance News
International Group of P&I Clubs
IGP&I completes 2025/26 reinsurance renewal amid rising claims
18th December 2024
The International Group of P&I Clubs (IG) has finalised its 2025/26 Group Excess of Loss Reinsurance contract (GXL) structure, demonstrating continued support from key reinsurance partners despite a challenging year marked by increased pool claims and an active hurricane season. Following quieter years for claims in 2022/23 and 2023/24, the 2024/25 ... Read the full article
Baltimore bridge collapse could impact outlook of IG P&I Club’s reinsurers: NorthStandard
30th May 2024
Marine insurer NorthStandard has reported that the cargo vessel collision and subsequent collapse of the Francis Scott Key Bridge outside Baltimore in March 2024 has the potential to impact the outlook of the International Group of P&I Clubs (IG) reinsurers and those across the club’s other reinsurance programmes. For those unaware, ... Read the full article
IGP&I sees rate reductions across the board in “positive renewal”
20th December 2023
Mike Hall, Chairman of the International Group of P&I Clubs (IG) Reinsurance Committee, has announced a "positive renewal" for shipowners for February 2024, with all vessel types seeing rate reductions. With IG's Pooling and Group Excess of Loss Reinsurance contract (GXL) structure for 2024/25 having now been finalised, the Group observed ... Read the full article
P&I Clubs underwriting upswing to be offset by investment losses: AM Best
14th February 2023
AM Best anticipates that Protection and Indemnity (P&I) clubs will see improved underwriting results in 2023, though the challenging investment environment will likely offset any profits. Best explains that the P&I segment is dominated by the members of the International Group of P&I Clubs (International Group), which collectively insures approximately 90% ... Read the full article
International Group finalises reinsurance structure for 2021
21st December 2020
The International Group of P&I Clubs has now completed its pooling and GXL reinsurance contract structure for 2021, after securing a two-year placement on layers 1-3 of the programme in 2020. In light of the two-year placement completed last year, the focus this year has been on the Group's Collective Overspill ... Read the full article
International Group of P&I Clubs maintains reinsurance structure at renewal
24th December 2019
The International Group of P&I Clubs (IGP&I), a provider of protection and indemnity (P&I) insurance to the global shipping industry, has largely maintained the structure of its reinsurance program during its renewal for the 2020/21 year. IGP&I decided to renew its program without significant changes this year, following a number ... Read the full article
Gard renews P&I reinsurance for 2019 through the International Group
14th January 2019
Gard, a shipowner-controlled protection and indemnity (P&I) marine and energy insurer, has outlined the terms of its 2019 reinsurance program, which it arranged through the International Group of P&I Clubs (IGP&I). The structure of the cover reinsured through the pool includes club retention of $10 million, general excess loss cover of ... Read the full article
International Group of P&I Clubs reduces reinsurance costs in 2019 renewal
19th December 2018
The International Group of P&I Clubs (IGP&I), a provider of protection and indemnity (P&I) insurance to the global shipping industry, has renewed its reinsurance program for the 2019/20 year with rate reductions across all of its vessel categories. The $3.1 billion reinsurance program included a number of changes to its structure ... Read the full article
International Group announces new reinsurance broking arrangements
13th June 2018
The International Group of Protection & Indemnity Clubs has restructured the broking arrangements for its General Excess Loss and Hydra reinsurance programmes following the completion of its previous tender process in June 2018. London-headquartered Miller Insurance Services has been appointed flag broker for both programmes with Aon Benfield set to serve ... Read the full article
International Group of P&I Clubs experience favourable reinsurance renewal: A.M. Best
7th March 2017
Members of the International Group of P&I Clubs, which dominate the marine protection and indemnity (P&I) industry, experienced a favourable reinsurance renewal for the 2017/2018 policy year, according to international rating agency, A.M. Best. Both within the International Group and an expanding fixed premium market, rates in the marine P&I sector ... Read the full article
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