Britannia has announced an 2.5% general increase on the advance call for the 2015 P&I renewal. The club circular points to an “encouraging claims background” and “continued financial strength” as the guiding factors for its decision. Adjustments in ‘excess of loss’ reinsurance costs will continue to be passed on to the members although there will be no increase in the minimum deductibles required. The club also announced that there would be no general increase in the advance call for the defence class.

Release call percentages for open policy years were set as follows:

2012/13 : Nil

2013/14 : 7.5%

2014/15 : 7.5%

2015/16 : 15.0%

The Club’s full circular can be found here.