marine Archives - Latitude Brokers

International Group announce 2026/27 GXL rises – Container ship operators only to face increase

The International Group have announced the finalised Group Excess of Loss (GXL) reinsurance structure and pricing for the 2026/27 policy year. The structure of the programme remains unchanged from the 2025/26 policy year but the ratings have reduced across the board, apart for container ships which is the only category to face an increase, whilst rate for clean tankers remain ...

At a glance – 2026/2027 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 are passed on to Members unless ...

NorthStandard Coastal and Inland Club announces 5% increase for 2026

The Coastal and Inland Club has decided to impose 5% increase in premium rates for the 2026 renewal on Mutual and Fixed P&I Premiums to address inflationary pressures on claims. In addition all deductibles will be increased by 10% or USD1,000 whichever is greater. The Club will continue to absorb any changes in the cost of the IG GXL reinsurance ...

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 ...

Japan P&I Club announces 5% General Increase for 2026

In consideration to the inflationary costs of claims and the burden of the increasing pool claims, the Club has decided to apply a 5% General Increase on Owners mutual entries for P&I and FD&D at 2026 renewals. In addition all deductibles below USD50,000 will be increased by 10% subject to a minimum of USD1,000, and the standard deductibles level is ...

Swedish Club announces 5% General Increase for 2026

In response to upwards pressure on claims costs, notwithstanding limited impact of Pool claims on the Club, the Board has decided to apply a 5% General Increase for 2026 renewal. 2026 premium will also be adjusted as per changes to the IG’s reinsurance costs. In addition, from 2026 deductibles will be applicable to legal costs and expenses, and the standard ...

American P&I Club targets 8% increase overall for 2026

Whilst the Club has been focusing on Member-specific approach in the recent years, the Board of Directors has mandated an overall target increase of 8% across all mutual classes for 2026 in order to face inflationary pressure on claims and volatility of large claims at Pool level. In addition, all deductibles equal or below USD25,000 per claim will be increased ...

West of England announce 5% General Increase for 2026/27

West, like many other Clubs, have highlighted that whilst their own claims for the 2025/26 policy year are within their initial forecast, the incurred cost of the 2025/26 International Group pool claims is very high at this stage of the year. This follows hot on the heels of the 2024/25 policy year which has the highest incurred cost of any ...

Skuld is targeting a 7.5% overall adjustment on premiums for 2026

In the face of retained claims quantum inflation, and increased costs of pool claims, the Club’s board will seek to address the insufficient premium level to cater for the risks covered by the Clubs. Whilst the Club will review each member’s performance and rating individually, they will seek to secure an overall adjustment of 7.5% on premiums for 2026. In ...

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 ...