Tysers P&I Report 2025

Welcome to the Tysers P&I Report 2025.

Our report provides a full analysis of the Clubs’ financial results for the 2024/2025 year and ranks them in terms of their performance and their strengths and capabilities going forwards.

Distributed to a global audience, the report is a pragmatic review of the state of the P&I market from Tysers’ expert and highly-skilled P&I team.

Read the full P&I report here.

Key takeaways

• While claim frequency was stable, the year saw a significant increase in the cost of casualties and serious incidents with Pool claims at their highest ever level at the one-year point.
• Majority of Clubs suffered underwriting losses, but in most cases solid investment returns resulted in overall surpluses. International Group free reserves grew by close to $300m and are approaching $6 billion.

CEO Tysers, Tom Wilson, said: “2024/25 was another difficult year for the shipping industry, and the Clubs suffered a series of large casualties resulting in Pool costs way exceeding expectations.Nevertheless, the Clubs have come through a difficult year relatively unscathed and, at this stage, we do not anticipate a particularly harsh renewal season although market reinsurance costs will undoubtedly suffer a large hike.”

Tysers will continue to track and report on the P&I market with a focus on the Clubs’ renewal strategies in our December update.