General Increase Archives - Latitude Brokers

At 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 ...

NorthStandard’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 ...

American Club announce 7% target rise in premiums for 2025/26

The American Club have announced no GI this year with rates being adjusted based on Member’s records, but subject to a target 7% rise overall for all main classes of business. The IG reinsurance adjustments will be charged in addition to any rise required. In addition to the premium uplifts the Club have announced a general deductible rise of 10% ...

Japan P&I announces 7% GI for Owners P&I and Chartered entries

JPI have released their 2025/26 renewal circular which details their requirements for a 7% General Increase for their Owners P&I and Charterers Liability entries. There will be no GI for FDD entries. As always, reinsurance rate adjustments will be passed on to the Membership. The Club have had a relatively good year with their latest published combined ratio for 2023 ...

Shipowners Club announce nil GI for 2025/26 policy year

The Shipowners Club have bucked the trend of required increases for the 2025/26 policy year becoming the only Club to announce a nil GI. Crucially, the Club have also announced that premiums offered at renewal would be inclusive of any adjustment to reinsurance costs. This is worded to allow the Club to raise premiums where the retained premium is insufficient ...

Swedish Club announce 5% General Increase for 2025/26

The Swedish Club have announced a 5% General Increase for the 2025/26 policy year which puts them very much in the middle of the pack at this renewal. This GI is only applicable to P&I premiums with no rise advised for FDD. GXL reinsurance cost rises will also be passed on to Members. In addition to the premium rise the ...

Britannia 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 ...

NorthStandard announce 5% General Increase for 2025/26 policy year

Northstandard have announced a 5% GI across P&I and FDD classes for both Mutual and Fixed premium entries. This applies only to their bluewater entries with C&I class yet to release their own separate renewal circular. In addition all P&I deductibles under USD 30,000 will be increased by a minimum of USD 1,000. FDD deductibles will not be subject to ...

London Club announce 5% target rise in P&I and FDD rates

London Club are sticking with their recent target rise approach with their last GI having been imposed on the 2021/22 policy year. For the 2025/26 policy year they are targeting a 5% increase in both P&I and FDD premiums with renewal terms based on Member’s individual records and risk profiles. No general deductible increases have been announced and any changes ...

Skuld announce 5% target rise in ETC and 5% Member credit in 2025/26 renewal circular

Skuld have released their 2025/26 renewal circular with a 5% target rise in Estimated Total Call and a 5% Member’s credit being announced. As usual the Club are not imposing any General Increase and are instead using the strategy of adjusting premiums based on performance of individual Members. The 5% Member’s credit will apply to Mutual P&I premium subject to ...