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 ...
Continue ReadingSwedish 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 ...
Continue ReadingBritannia 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 ...
Continue ReadingNorthStandard 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 ...
Continue ReadingLondon 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 ...
Continue ReadingSkuld 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 ...
Continue ReadingGard announce 10% Owners General Discount and 4% target premium rise for 2025/26 renewal
Gard have released their 2025/26 renewal circular which targets a 4% premium increase on ETC and reveals a 10% OGD for Members renewing with the Club, thanks to the Club’s continued strong financial position. This is the 16th year in a row that capital has been returned to their mutual Members. The 4% target premium does not appear to be ...
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 ReadingUK P&I Club announce 6.5% General Increase for 2025/26 policy year
UK Club have announced a 6.5% general increase for the 2025/26 renewal with the Club referencing a reduction in their own claims, compared to previous years, but increased group pool claims and uncertainty for the rest of the 2024/25 policy year. General claims inflation are also referenced with claim values expected to continue rising due to social inflation. The Club’s ...
Continue ReadingSteamship Mutual announce 5% General Increase and 12.5% capital return for 2025
Just as they did in 2023 Steamship have become the first IG Club to release their renewal circular relating to the 2025/26 policy year and have set a benchmark for other Clubs to follow. They have announced a 5% general increase to apply to all classes of business from 20 February 2025 as well as a capital distribution of 12.5% ...
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