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 ...
Continue ReadingSkuld 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 ...
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 ReadingJWLA032 dated 18th December 2023 – War Listed Areas Map for reference
Further to our blog regarding the latest War Listed Areas published by the JWC on 18th December 2023, we have designed a Map for easy reference. Should you have any vessel entering any of the War Listed Areas, please do not hesitate to contact us at [email protected] to obtain a quote.
Continue ReadingLatitude Brokers take part in the Adventure Japan Race 2025 and fundraise for the Mission to Seafarers
After the success of the first edition of the Adventure Japan Race, the Mission to Seafarers successfully held a bigger event on 15 to 18th May 2025 in Shuzenji. This time, 100 teams of 3 joined the 2-day challenge and raised funds to support the work of the Mission to Seafarers. On day 1, Teams Ido (Rev Catherine Graham, Janie ...
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 ...
Continue ReadingAmerican Club Announces 35% Supplementary Call for 2022 Policy Year
The American Club have released their 2024 circular relating to the development of closed and open policy years. The circular starts by stating that the Club has seen a small increase in gross written premium and a positive development on their closed policy years. However, with regard to the 2022 policy year, the Club have announced an unbudgeted supplementary call ...
Continue ReadingAmerican Club Responds Robustly To S&P Downgrade
The American Club has been downgraded by S&P from BBB- to BB+ with a stable outlook in its latest assessment. This follows a newly implemented risk-based capital model for rating insurers and reinsurers which was introduced in November last year by the credit rating agency. Dorothea Ioannou, Chief Executive of the American Club has questioned the rationale behind this action ...
Continue ReadingNorthStandard’s Coastal and Inland Class announces no General Increase on mutual entries for the 14th consecutive year. 10% increase to apply to fixed premium entries.
In addition to confirming no General Increase to apply to the Club’s mutual entries Coastal and Inland have also confirmed that any international group reinsurance increases will be absorbed by the class. Deductibles will however be reviewed on a case by case basis. For Members entered on a fixed premium basis a 10% premium increase will apply. No release calls ...
Continue ReadingAmerican Club target 7.5% premium increase on P&I and FDD and call for further unbudgeted supplementary calls for the 2020 and 2021 policy years.
The American Club have highlighted Geopolitical tensions, macroeconomic uncertainty, social inflation and volatile investment and commodity markets as concerns at the 2024/25 renewal. With that in mind the combined ratio has improved in relation to previous years at 95% for the policy year to November 2023. Investment returns have been anemic meaning that the Club’s free reserves will not have ...
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