Gard will levy an average 5% premium increase for 2026 and confirms 10% OGD
The Club will return 10% of Estimated Total Call to Owners renewing with Gard for the 2026 policy year. However in view of inflation and claims costs, and the need to maintain stability of in the portfolio, the Board has decided that an average 5% premium increase should be levied on ETC for 2026 renewal. Individual assessments will be made ...
Continue ReadingUK P&I Club sets General Increase at 7.5% for 2026 renewal
UK P&I Club sets General Increase at 7.5% for 2026 renewal The reported pool claims so far in the current Underwriting year are pointing towards a challenging pool year, whilst quantum of attritional claims continue to rise. On this basis the Club’s Board has decided to seek a 7.5% General increase on P&I for 2026 renewal, together with a 10% ...
Continue ReadingLondon Club announce 6% target rise in premiums for 2026/27
The Club announced a 9% increase in entered tonnage in the first half of the year, which was mainly attributed to existing Members entering additional tonnage in the Club. Despite this increase in tonnage the Club anticipated a modest underwriting deficit for the year, mainly due to pool claims and claims above USD 1m being higher than anticipated. This underwriting ...
Continue ReadingShipowners’ Club calls for 5% General Increase for 2026 & announce new CEO
The Board observed that prior years continue to develop ahead of budget, at the same time as Pool Claims are at a high level. In order to address the imbalance between premium and claims and sustain the Club’s objective of a break even combined ratio, the Club will apply a 5% General increase for 2026 renewal, inclusive of any changes ...
Continue ReadingSteamship Mutual opens the 2026 renewal season with 8% General Increase
The Club highlighted a number of difficulties in 2025 as they head into the 2026 policy year. There has been a second successive year of high pool claim numbers, in addition to deterioration on the prior year’s pool claims, in quantum as well as in number. The Club have also seen their retained claims developing worse than budget. As such ...
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 ...
Continue ReadingBritannia announce 7.5% minimum premium increase and an estimated 12% return on gross premiums
Britannia have now released their 2025/26 renewal circular with key highlights below: A minimum rise in P&I premiums of 7.5%, no minimum rise in FDD announced. A target additional 2.5% rise in overall Club income coming from remedial action for those accounts where 7.5% is not sufficient. Minimum P&I deductibles to increase as follows: Crew USD 10,000 (up from USD ...
Continue ReadingGard announce 10% Owners General Discount and 4% target premium rise for 2025/26 renewal
Gard have released their 2025/26 renewal circular which targets a 4% premium increase on ETC and reveals a 10% OGD for Members renewing with the Club, thanks to the Club’s continued strong financial position. This is the 16th year in a row that capital has been returned to their mutual Members. The 4% target premium does not appear to be ...
Continue ReadingWest of England announce 5% General Increase for owned mutual P&I entries. Premiums As Expiring for owned mutual FDD entries.
West have released their renewal circular for 2025/26 with the highlights being a 5% GI for owned mutual entries and premiums as expiring for owned mutual FDD entries. This is a result of an anticipated combined ratio of just over 100% at year end. Changes to the International Group Reinsurance rates will be passed on to Members as usual. Non-Mutual ...
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