International Group announce 2025/26 GXL rises – Container ship operators hit hardest
The International Group have announced the finalised Group Excess of Loss (GXL) reinsurance structure and pricing for the 2025/26 policy year. As expected the rates have been heavily impacted by a high level of pool claim activity, most obviously with the Dali allision claim with the Baltimore Bridge. The structure of the programme remains unchanged from the 2023/24 policy year ...
Continue ReadingBritannia downgraded from A (negative outlook) to A- (stable)
On 9 December 2024 S&P announced a revised credit rating for Britannia of A- (stable), down from A (negative outlook) previously. The reasoning for this change was listed as below: “A – The Britannia Steam Ship Insurance Association Europe (Britannia or the club) is likely to reporttechnical losses again this year, with investment returns expected to deliver a modest net ...
Continue ReadingAt a glance – 2025/2026 P&I Renewals
Unless specifically mentioned the following is in respect of the Mutual P&I entries and excludes FD&D, fixed premium entries and charterer’s liability. The headline General Increase numbers are as follows and will be updated as each Club announces – click on each Club’s link to see the full GI announcement. GXL (reinsurance) rate changes passed on to Members unless otherwise ...
Continue ReadingNorthStandard’s Coastal and Inland class announce 6.5% General Increase
Coastal and Inland class (C&I) have broken a 14 year streak of no General Increase and announced a 6.5% rise in P&I premiums for the 2025/26 policy year. This is 1.5% higher than the GI announced by the main Club and follows a difficult year for the class who were hit by their first ever pool claim. Following 14 years ...
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