Underwriting results across the International Group (IG) of P&I clubs are improving, but losses remain unacceptably high, said ratings agency Standard & Poor's.
It said the market was unlikely to move much closer to underwriting profitability by the year-end of 20 February 2004.
Despite this, S&P said rate increases were expected over the next two renewals, with stronger investment results set to return the market to profitability. As a result, S&P said it had revised its rating outlook for IG from negative to stable.
S&P said it expected 2004 to be a watershed year for the P&I clubs, with rate increases during the year expected to move the market closer to underwriting profitability in February 2005 and February 2006.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
