P&I market grapples with UK's withdrawal from EU

摘要

For the marine insurance market, 2016 has been a tough year but, barring a series of major losses, 2017 will probably be little different. The past 12 months have not seen a series of market-defining losses, which is a problem for underwriters because there is still too much capacity chasing too few risks. The paucity of major losses has left underwriters unable to highlight what they bring to their clients - and push prices up.