FacebookTwitterEmailLinkedin International Group P&I clubs suffered a USD 250 million underwriting loss in 2025-26, while the more than USD 2.8 billion MV Dali casualty became the market’s largest loss, according to Gallagher Specialty. Key P&I trends As Gallagher Specialty informs, the International Group P&I clubs recorded a market-wide underwriting loss of about USD 250 million in the 2025-26 financial year, with the average combined ratio estimated at between 105% and 108%, The underwriting loss was offset by strong investment performance, with clubs generating about USD 1.125 billion in investment gains, equivalent to typical investment yields of between 7% and 9%. RelatedNews South Korea launches national body to shape autonomous shipping rules Cefor: Machinery failures remain major driver of marine hull claims var jnews_module_21381536_0_6aa0120e5b0c6 = {"header_icon":"","first_title":"Related","second_title":"News","url":"","header_type":"heading_8","header_background":"","header_secondary_background":"","header_text_color":"","header_line_color":"","header_accent_color":"","header_filter_category":"","header_filter_author":"","header_filter_tag":"","header_filter_cpt_post_tag":"","header_filter_cpt_tribe_events_cat":"","header_filter_cpt_web_story_category":"","header_filter_cpt_web_story_tag":"","header_filter_text":"All","sticky_post":false,"sticky_post_filter":false,"post_type":"post","content_type":"all","sponsor":false,"number_post":"2","post_offset":0,"unique_content":"unique1","include_post":"","included_only":false,"exclude_post":"21381536","include_category":"","exclude_category":"","include_author":"","include_tag":"4004,1370,734,1582","exclude_tag":"","exclude_visited_post":false,"post_tag":"","tribe_events_cat":"","web_story_category":"","web_story_tag":"","sort_by":"latest","show_date":"","date_format":"default","date_format_custom":"Y\/m\/d","pagination_mode":"disable","pagination_nextprev_showtext":"","pagination_number_post":"2","pagination_