S&P downgrades Swedish Club and West P&I Clubs to BBB+ as investment income slumps
S&P Global ratings has downgraded financial strength rating of West of England P & I Club and Swedish Club due to negative investment returns. The move reflects the impact turmoil in the equity and bond markets is having on the financial strength of P & I clubs. After three years of record Pool claims, no Pool claims have been submitted ...
Continue ReadingSteamship Mutual P&I Club announces 7.5% increase for 2023
The club has declared a 7.5% General Increase on the rates across all classes of business for the policy year 2022-2023. The board also ordered a 10% increase in P&I deductibles to apply to all deductibles which are US$ 50,000 or less. In policy year 2022/23 up to September, the club’s own incurred claims are less than budget expectations at ...
Continue Reading