Recent months have seen unprecedented shifts in the world’s financial and economic position. Insurers and reinsurers are not immune from the impact of the global crisis. In the P&I context, the effects aggravate the burden of several years of proliferating pool claims. With no prospect of investment income offsetting escalating Pool claims costs and shielding premiums from the full impact of the new underwriting realities, a proactive strategy is required. Extraordinary events require an extraordinary response.

Please find the complete circular enclosed below