Best's Market Segment Report: P&I Clubs Record High Free Reserves Despite Challenges on Technical Performance
AMSTERDAM, February 18, 2025--(BUSINESS WIRE)--After two years of relatively benign pool claims experience, an uptick in pool claims in 2024/25 will partially offset expected high investment returns for Protection and Indemnity (P&I) clubs, according to a new report from AM Best.
In its new Best's Market Segment Report, "P&I Clubs: Record High Free Reserves Despite Challenges on Technical Performance" AM Best notes that high investment returns boosted free reserves to record high levels in 2023/24 and are expected to remain sizeable in 2024/25. However, the uptick in pool claims means that combined technical performance is expected to deteriorate for the 2024/25 year.
The report also notes that further rate adjustments are expected at subsequent renewals to maintain underwriting discipline. AM Best considers the continuation of general increases to be necessary to maintain price adequacy in view of the expected deterioration in underwriting results in 2024/25 due to the notable increase in large claims frequency and severity.
To access a complimentary copy of this market segment report, please visit http://www3.ambest.com/bestweek/purchase.asp?record_code=351384.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250218129848/en/
Contacts
James Kenfack Financial Analyst +31 20 808 2272 james.kenfack@ambest.com
Jose Berenguer Associate Director, Analytics +31 20 808 2276 jose.berenguer@ambest.com
Richard BanksDirector, Industry Research – EMEA +44 20 7397 0322 richard.banks@ambest.com
Edem Kuenyehia Director, Market Development & Communications +44 20 7397 0280 edem.kuenyehia@ambest.com
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Wire
24 minutes ago
- Business Wire
Angel or Adversary: Deep Instinct Research Highlights the Double-Edged Sword of AI in Cybersecurity
NEW YORK--(BUSINESS WIRE)-- Deep Instinct, the preemptive data security company built on the first and only AI-based deep learning framework for cybersecurity, today released the sixth edition of its Voice of SecOps Report, which delves into the growing influence of AI in business, with a focus on its impact on Security Operations (SecOps). While AI adoption is accelerating, the findings uncover a more complex reality: security teams are limited by knowledge gaps, inconsistent implementation, and mounting operational pressures as they face an increasingly treacherous, AI-driven threat landscape. The research, ' Cybersecurity & AI: Promises, Pitfalls – and Prevention Paradise,' found that nearly three-quarters (72%) of organizations have revised their cybersecurity strategies over the past year due to AI, and a whopping 86% have increased their use of AI within SecOps. Despite the investments, two-thirds of respondents were confused about fundamental AI definitions, with 38% unable to differentiate between machine learning and deep learning – signaling an alarming knowledge gap in the industry. Additional key findings from the report include the following: AI-Powered Cyber Threats Drive a Focus on Prevention As cybercriminals build and adopt AI tools, the nature and scale of attacks have drastically evolved and expanded. Nearly half (46%) of organizations experienced an uptick in targeted phishing attacks, while 43% reported deepfake impersonation attempts. Attacks on local or cloud storage were also a growing concern, cited as a top risk by 83% of respondents, second only to phishing (84%). In response to these AI-powered attacks, 82% of organizations say they have shifted toward a prevention-first security strategy, with 64% noting a direct push from the C-suite to adopt more proactive defense measures. Benefits of AI in Cybersecurity Roles Are Clear, Yet It Unexpectedly Contributes to Burnout SecOps teams appear to be reaping the benefits of AI, with 76% stating it makes their roles easier while saving security teams an average of 12 hours per week on manual processes. However, while GenAI may be simplifying some aspects of SecOps workloads, nearly 70% of security professionals believe AI also contributes to burnout. Regulatory complexity adds another layer of strain, with 32% citing difficulties in keeping up with increasing AI-related policies, and an additional 37% fearing AI-related regulations are a financial penalty waiting to happen. Preemptive Data Security: The New Imperative In the face of mounting threats, operational burnout, and AI confusion, preemptive data security – a subset of Gartner's recently introduced preemptive cybersecurity market category – offers a definitive path forward. By harnessing the power of deep learning to prevent threats before they execute, organizations will reduce risk, ease the burden on SecOps teams, and stay ahead of relentless adversaries. 'The traditional 'detect and respond' cybersecurity model is broken – it's reactive, expensive, and no match for AI-powered threats,' said Lane Bess, CEO of Deep Instinct. 'To win this fight, cybersecurity teams must shift from chasing threats to preventing them. Preemptive data security – powered by deep learning, the most advanced form of AI – is the only way for SecOps teams to regain control and stay ahead of adversaries.' To get the full report and download past Voice of SecOps reports, please visit s. Then register for our webinar, Cybersecurity & AI: Promises, Pitfalls – and Prevention Paradise (2025 Voice of SecOps Research), to learn about the top findings from this year's report. Survey Methodology Sapio Research surveyed 500 senior cybersecurity experts from companies with 1000+ employees in the U.S. The interviews were conducted online in April 2025 using an email invitation and an online survey. Respondents worked at organizations that operated in either financial services, technology, manufacturing, retail, healthcare, public sector, or critical infrastructure (such as telecoms, energy, utilities, and transportation). For this specific report, the C-suite is defined as those who hold chief, global, head of department, or director roles, while reports are those who hold a manager, administrator, analyst, team lead, or officer role. About Deep Instinct Deep Instinct, the first and only preemptive data security company built on a deep learning cybersecurity framework, prevents unknown threats in <20 milliseconds, 750X faster than the fastest ransomware can encrypt. Deep Instinct Data Security X (DSX) secures data at-rest or in-motion – across cloud, NAS, applications, and endpoints. DSX Brain, Deep Instinct's deep learning framework, prevents zero-day threats that no one else can find, with >99% accuracy and a <0.1% false positive rate. DIANNA, the DSX Companion, leverages GenAI to provide unparalleled explainability into unknown threats in <10 seconds. For more, visit
Business Wire
an hour ago
- Business Wire
New Potential Treatment Strategy for Brain Metastases and Leptomeningeal Disease: HER3-DXd Shows Promising Results in the Phase II TUXEDO-3 Study for Patients With Limited Therapeutic Options
CHICAGO--(BUSINESS WIRE)--Leading international medical research company, MEDSIR announced today the positive results of the TUXEDO-3 trial at the American Society of Clinical Oncology (ASCO) Annual Meeting 2025. This phase II study funded by Daiichi Sankyo and Merck, known as MSD outside of the United States and Canada, evaluates the efficacy and safety of patritumab deruxtecan (HER3-DXd) in patients with active brain metastases and leptomeningeal disease, serious complications associated with advanced stages of the cancer. "This study represents a significant advancement in our understanding of how to treat brain metastases and leptomeningeal disease" - Dr. Matthias Preusser. Share The study was carried out to evaluate HER3-DXd in patients with metastatic breast cancer (mBC) and advanced non-small cell lung cancer (aNSCLC) with active brain metastases, and patients with leptomeningeal disease from solid tumors. This is an antibody-drug conjugate to target HER3, a protein receptor found on the surface of cancer cells in brain metastases. HER3-DXd is an investigational agent consisting of a fully human anti-HER3 IgG1 monoclonal antibody attached to a number of topoisomerase I inhibitor payloads (an exatecan derivative, DXd) via tetrapeptide-based cleavable linkers. The DXd ADC Technology payload causes tumor DNA damage, killing cancer cells within and surrounding the tumor microenvironment The study showed promising results, which were presented today in an oral session. Results from the leptomeningeal cohort have been simultaneously published in the renowned journal Nature Medicine due to its potential benefit in patients with a high unmet medical need. In patients with breast cancer and brain metastases, intracranial responses were observed across all breast cancer subtypes, including luminal, HER2-positive, and triple-negative. A NEW HOPE FOR DIFFICULT-TO-TREAT METASTASES 'This study represents a significant advancement in our understanding of how to treat brain metastases and leptomeningeal disease, and we are hopeful that our findings will pave the way for new, effective therapies for these patients,' stated Dr. Matthias Preusser, MD, Medical Oncologist and Head of the Clinical Division of Oncology, Medical University of Vienna and Principal Investigator of TUXEDO-3. Dr. Rupert Bartsch, MD, PhD, Consultant Hematology and Medical Oncology, Medical University of Vienna, added: 'Brain metastases and leptomeningeal disease represent severe complications in cancer, leading to increased morbidity and mortality, and HER3-DXd could be a promising therapeutic alternative for these patients.' MEDSIR's trial DEMETHER, an international, phase II trial exploring the maintenance of trastuzumab and pertuzumab following trastuzumab deruxtecan as induction treatment for HER2-positive recurrent metastatic breast cancer patients, was mentioned during today's Discussion of LBA1008. DEMETHER's strategy is to optimize the sequence to increase patients' progression free survival (PFS) while improving their quality of life. The relevance of this mention highlighted the ability of MEDSIR for anticipating patients' needs and designing strategical trials to keep on pushing the barriers of clinical research. MEDSIR active presence at the ASCO Annual Meeting 2025 reinforces its leadership in excellence-driven oncology research and highlights its focus on addressing unmet needs in cancer treatment, with the aim of not leaving any patient left behind.
Yahoo
an hour ago
- Yahoo
Ned Introduces Spotlight, a Lightweight Solution for Instant Cash Flow Insight
Spotlight delivers real-time cash flow visibility so lenders can reduce risk, cut complexity, and respond faster in a volatile market NEW YORK, June 04, 2025--(BUSINESS WIRE)--Ned, a leading infrastructure platform for modern small business lending, today announced the launch of Spotlight, its first modular solution designed to give lenders instant visibility into a borrower's real-time cash flow performance. Spotlight enables lenders to quickly assess borrower health in moments where speed and simplicity are critical. The product addresses a growing market need, as many lenders remain reliant on legacy systems that lack real-time visibility and which slow down credit decisions. "Lenders needed something lighter, faster, and easier," said Dave Silverstein, CEO of Ned. "Spotlight is built for those critical moments when getting to the truth matters most." Addressing a Growing Need in a Volatile Economy As inflation and tighter margins squeeze borrowers, delayed insight creates real risk. Spotlight gives lenders instant access to live cash flow data, enabling faster, smarter decisions at key moments like pre-qualification, mid-loan check-ins, and risk reviews. "Spotlight gives you instant access to real-time cash flow data—no manual work, no delays," said Mayur Motgi, Ned's Chief Product Officer. By enabling lenders to pull and assess real-time bank data from multiple accounts in seconds, Spotlight is built to help teams: Pre-qualify borrowers quickly: Screen borrowers before a full app, saving time and focusing on the right leads Check balances before repayments: Avoid failed ACHs by verifying liquidity in real time Spot risk early: Monitor borrower health and act before issues escalate Spotlight's Key Features No-Code Setup with Borrower-Friendly UX: Fast to deploy and simple to use for both lenders and borrowers Custom Eligibility Score: Set unique cash flow criteria in minutes, fully aligned with your credit policy Instant cash flow verification: Pull real-time bank data in seconds, no PDFs or manual uploads required Multi-account access: Analyze multiple bank accounts per borrower for a complete financial snapshot Lightweight and Flexible: Deploy for pre-qual, underwriting, renewals, or post-close reviews, wherever visibility matters "Spotlight lets lenders apply their own credit criteria to quickly qualify borrowers or flag signs of distress," Silverstein added. "In a challenging economy, targeted visibility helps strengthen both pipeline and portfolio oversight, while reducing cost and complexity. We're proud to bring this to market and grateful to the lenders who helped shape it." About Ned Ned is a modern infrastructure platform that brings cash flow visibility and automation to every stage of the lending lifecycle. Designed for lenders seeking clarity beyond credit scores and collateral, Ned's white-label platform integrates directly into a lender's workflow, enabling custom cash flow scoring, tailored loan sizing, and real-time portfolio oversight. To learn more or schedule a demo, visit View source version on Contacts Josh Harris: Josh@
