Best's Market Segment Report: Strong Investment Returns Support Growth in Free Reserves but Underwriting Performance Remains a Challenge for P&I Clubs

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FOR IMMEDIATE RELEASE

AMSTERDAM - FEBRUARY 10, 2026 09:01 AM (EST)
Protection & Indemnity (P&I) clubs have announced general increases ahead of the 20 February 2026 renewal date for shipowners, reflecting the desire to manage persistent claims inflation and ongoing volatility in pool claims severity, according to a new report from AM Best.

In its new Best’s Market Segment Report, “P&I Clubs: Strong Investment Returns Support Growth in Free Reserves but Underwriting Performance Remains a Challenge”, AM Best considers the continuation of general increases to be necessary to maintain price adequacy and make up for the underwriting deficit experienced in 2024/25. However, it will likely be more challenging for the clubs to achieve the announced rate adjustments due to growing competitive pressures.

The report further highlights that sanctions risk management continues to be an important topic for the clubs, requiring engagement and effort to ensure their own compliance and help shipowners understand their obligations.

To access a complimentary copy of this special report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=362299.