Skuld targets 10% overall premium increase for 2023

The Board of directors have acknowledged that notwithstanding the benign large claims environment this year, the technical result for the mutual products remain negative. The combined ratio on an operational level for all products is positive at the half year stage, and the efforts to improve the performance of the mutual portfolio need to be sustained, particularly as the Clubs ...

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West of England announces 10% GI for 2023

The Board recognizes the premium for previous year remains insufficient to meet current and expected future claims costs, especially having in mind the potential impacts of high global inflation. Therefore, West P&I has announced General Increase of 10% on mutual P&I premium and 15% on mutual FD&D premium. For Members whose records are adverse, additional action will be taken where ...

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Gard confirms Owner’s General Discount for 2023

Following the Club’s interim results as at 20 August 2022, the Club has advised of satisfactory underwriting results with 85% Combined Ratio Net, but as other Clubs disappointing investment performance. The Club’s overall financial position remains very strong, and therefore they have confirmed the 5% Owner’s General Discount on 2023 ETC. At the same time, the focus on balanced underwriting ...

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Steamship Mutual announces 12.5% GI for 2022, and increases Release Calls for open years

Taking into account the Club’s underwriting results in excess of 100%, the Board has decided that a 12.5% General Increase will apply on all all classes of business, which would include P&I, FD&D and Charterers Liability. Individual Members rating will be also adjusted according to their performance and adjustment to the costs of the IG GXL programme will be passed ...

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Skuld renewal update 2019/20

Pursuing from their position since 2011, Skuld is not applying General Increase anymore, and renewal terms for 2019 will be solely based on individual Members’ records and performance. The Club is not changing their standard deductibles. Release calls are set as follows: 2016/17: 3% 2017/18: 7.5% 2018/19: 15% 2019/20: 15% Full details of Skuld renewal update is available in their ...

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