Britannia targets 5% increase and return USD15 million in capital distribution

The Board has decided that entries will be reviewed and rates individually based on their risk profile, with a target of 5% minimum increase in rate on P&I and FD&D entries. Any changes to the costs of the IG reinsurance programme will be passed on to Members.

In addition, a 10% increase will be applied on all P&I deductibles below USD50,000, subject to minimum increase of USD1,000.

A further Capital Distribution of 6.5% of net premium for vessels that renew at 20 February 2026 has been agreed, and will be offset against the 1st 2026/27 PY instalment. This is equivalent to USD15 million return to Members.

Release Calls:

2026-27: 15% P&I and 20% FD&D

2025-26: 7.5% P&I and 10% FD&D

2024-25: 5% P&I and FD&D

2023-24: NIL P&I and FD&D

Full details of the Club’s renewal position is available in their Circular.