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AEGIS P&I Market Update
In this challenging environment, we recommend you to carefully review and take into consideration potential changes in the market, therefore, we are glad to share with you our detailed and in-depth P&I strategic bench-marking review. In the attached P&I update market presentation, we can see all signs pointing to a continued hardening market and anticipate general increases or internal targets (for those Clubs without GIs) in the region of 7.5% to 15%, with the potential for outliers on either side of this and anticipate continue increasing in next few years. The purpose of this review is to compare your P&I/FD&D/ charterers premiums, terms and conditions against AEGIS I Arthur J. Gallagher (AJG) 175 million GT global portfolio and provide advice and insight (based on our internal research and findings). We have also provide an additional technical analysis on claims trends (against similar global operators) as well as provide you with further market intelligence on your Clubs ALR internal cost allocation differences, to give you a full holistic overview of your program (i.e. please note these type of data Clubs do not generally provide directly). We further also provided you with preliminary strategic advice on opportunities to improve your program and ultimately save money, usually without the need to change your existing P&I Club, with a view to ensure any long-term relationships are maintained. Our aim is to provide you with information that you will find to be useful that may allow you to consider engaging with AEGIS I AJG with a view to benefit your operations including future claims assistance and advisory. Shipping continues to present significant challenges going forward, and the bottom line for all operators remains under pressure. The P&I market is also in the early stages of change from an ultra-soft moving environment, turning to a more hardening (noncompetitive) stance, and perhaps more so by the time the COVID-19 pandemic comes to an end. We hope, therefore, that early planning for 2022 and proactive thinking in reviewing your P&I program, you'll find our report informative and thought provoking and we look forward to meeting with you offline or online, during these difficult times, to go through the report and discuss your forthcoming P&I/ Marine renewals. Have a query or question? Please call us on +84 (28) 3514 7969 or email us at enquiry@aegisrs.com for further advice! For more information on Arthur J. Gallagher (AJG), please visit:- |
MARINE P&I PRE-RENEWAL REPORT 2021
TRANSPORTATION INSURANCE SOLUTION
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