PILOT° by Latitude Brokers

Historical Data

West of England
S&P rating A-. Club Manager: West of England Insurance Services (Luxembourg) SA. Operational HQ: London. Asian Offices: Hong Kong and Singapore
COMPARE CLUB DATA
2014-15 2015-16 2016-17 2017-18 2018-19 2019-20
General Increase on ETC 7.50 2.50 0.00 0.00 0.00 5.00
Percentage called of ETC 100.00 100.00 100.00 100.00 100.00 100.00
Release calls latest estimate 0.00 0.00 0.00 0.00 7.50 15.00
Owned GT (Millions) 59.2 68.4 73.4 83.6 90.5 93.1
Chartered GT (Millions) 22.0 23.0 25.0 27.5 30.0 40.0
Combined GT (Millions) 81.2 91.4 98.4 111.1 120.5 133.1
Total Call Income (US$ Millions) 207.6 216.1 208.5 202.6 205.6 n/a
Free Reserves (US$ Millions) 243.7 276.7 306.5 308.5 306.4 n/a
Combined Ratio 84.84 109.88 94.04 138.35 132.98 n/a
Investment Yield 3.70 1.53 2.56 3.01 3.67 n/a

NOTES

Call Structure: from 20 Feb 2020 Total Mutual Call inclusive of GXL reinsurance costs as per https://www.westpandi.com/publications/notice-to-members/2019-2020/notice-to-members-no-7-2019-2020/

As per Circular 17 2017/2018, from 2018 PY, the Club will charge Total Mutual calls at inception, payable in 5 instalments, and any Increase will be applied on the Total Mutual Calls.

Key Development Statistics
PY 2018-19 Tonnage
As per Policy Year 2018-19
Owned GT (Millions) 90.5
Market Share of Owned GT 7.19%
Chartered GT (Millions) 30.0
Combined GT (Millions) 120.5
Free Reserves (US$ Millions) 306.4
Total Call Income (US$ Millions) 205.6
Free Reserves per Combined GT (US$) 2.5
Total Call Income per Combined GT (US$) 1.71
Free Reserves to Total Call Income Ratio 149%
Current 5-year average combined ratio 112%
Current 5-year average investment yield 2.89%
Last Unbudgeted Call 2008
Last Return of Call Never
 
Europe48.00%
Asia Pacific39.70%
Americas5.10%
Rest of the World7.20%
 
Bulkers38.40%
Containers / General Cargo28.50%
Offshore0.00%
Passengers1.10%
Tankers / Gas Carriers30.30%
Others1.10%
 
% of Owned GT75.10%
% of Chartered GT24.90%
COMPARE CLUB DATA

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