30 October 2023 Insurance
A turning tide: P&I rates flattening, softening winds ahead
After several years of a hard market, rates in the protection and indemnity (P&I) market are showing signs of softening, according to Sebastian Tjornelund (pictured) of British Marine, a wholly owned subsidiary of QBE Insurance Group.
Speaking to Intelligent Insurer, Tjornelund delved into the present P&I conditions, particularly in the Asia-Pacific, describing the market as “robust” with “significant modernisation”.
