The competition between insurance companies for the shipping and offshore industry is fierce. Both between the 13 P&I clubs (P&I: Protection & Indemnity) that work together in the International Group of P&I Clubs while also being competitors, as well as from commercial players. For the industry to avoid too much volatility, fewer players are needed among the P&I clubs, which deal with insurance and reinsurance, says Ståle Hansen, coming CEO of Norwegian Skuld.
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