Nil General Increase for SOP whilst Skuld confirms Return Premium and Steamship is considering

The Shipowners P&I Club has just opened the ‘General Increase announcement’ season by releasing their half-year financial results, which shows an increase in the Club’s free reserves to USD291.2 million as at 30 June 2016. Last year, the Club announced that they will change their financial year from 20th February to 31st December, and after reporting free reserves as at ...

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Overview of 2016 IG P&I Club General Increases (Final)

The following is solely 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: American Club – 2.5% Britannia – 2.5% Gard – 2.5% Japan – 3% London – 5% North of England – 2.5% Shipowners – 0% Skuld – (not applicable) ...

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Reduction in the IG Excess Reinsurance Programme for 2015

Negotiations have been finalised for the International Group General Excess of Loss reinsurance contract and the favourable Pool claims experience for 2012, 2013 and 2014 policy years, have enabled the group to achieve rate reductions: minus 8.11% for clean and dirty tankers minus 6.05% for dry cargo vessels and no increase for passenger vessels and chartered entries. The Clubs apart from ...

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Shipowners P&I Club 2015 General Increase announced

The Shipowners’ P&I Club has announced a “nil” general increase for the 2015 renewal following the issuance of a strong half-year report. The report (unaudited) shows a higher gross earned premium versus the same point last year despite the club’s withdrawal from the Pacific North West fishing sector. The underwriting shows a small policy year surplus to date and improvements ...

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