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MARINE | Future of P&I In association with Ed Broking
Winds of change blow through P&I sector The year 2022 has proved to be an interesting year for the P&I market and is even raising big questions about the future of the mutual system in the international shipping insurance market. Martin Cook, Divisional Director, Marine at Ed Broking, raises the big questions facing the market The Marine Insurer | June 2022
Worldwide, cyclone activity trends are increasing both in quantity and intensity. Specifically, North Atlantic cyclone intensity has visibly increased in the last two decades, with eight of the ten most active years since 1950 occurring within the last 25 years. The first truly hard P&I renewal for many years resulted in a bruising February 20 for ship owners and clubs alike. Four days later Russia invaded Ukraine resulting in many new challenges as the shipping sector navigates through ever escalating sanctions. Against this volatile and rapidly changing political and economic backdrop, the P&I sector is going through some major changes. The Swedish Club will celebrate its 150th anniversary this year. Two clubs have announced a change in the top jobs with Dorothea Ioannou taking over from Joe Hughes at the
