Latitude Brokers

Britannia targets 10% overall increase at 2023 renewal

In the club’s meeting on 25th October, the Club decided to continue with its approach of adjusting individual member’ rates based on their individual claims record and risk profile, rather than announcing a general rate increase. However, Britannia will look to achieve an overall increase of 10% in the ETC for the year 2023/24 policy year before any group excess ...

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 ...

Steamship 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 ...

Latitude Brokers speaks to CNN on the Jumbo restaurant debacle

Latitude’s offices in Hong Kong overlooked the Jumbo restaurant in the Aberdeen typhoon shelter until it was towed away on 14 June to meet its fateful demise in the middle of the South China Sea, leaving the upturn grim kitchen barge behind. Much consternation ensued amongst our team and in Hong Kong, and our very own Andrew Brooker was invited ...

Joint War Committee updates War Listed Areas on 4th April 2022

On 4th April 2022, the Joint War Committee have updated the Hull War, Piracy, Terrorism and Related Listed Areas to JWLA-030: Added: Russia Amended (description of the following area): Sea of Azov and Black Sea waters plus inland waters as defined overleaf The War Listed areas in the Black Sea & Sea of Azov remain as detailed in our previous ...

Standard and North P&I Clubs announce merger talks

The Standard P&I Club and the North P&I Club have announced that they are finalizing the legal, transactional and operational elements for the proposed merger. Latitude Brokers spoke to the Standard Asia today, and can share some further information. The merger will be submitted to Members’ vote on 27th May 2022, after which the Clubs expect to complete the regulatory ...

Joint War Committee updates War Listed Areas on 7th March 2022

On 7th March 2022, the Joint War Committee have updated the Hull War, Piracy, Terrorism and Related Listed Areas to JWLA-029: Amended: Europe 1.Sea of Azov and Black Sea waters enclosed by the following boundaries a) On the west, around Romanian waters, from the Ukraine-Romania border at 45° 10.858’N, 29° 45.929’E to high seas point 45° 11.325’N, 29° 51.140’E b) ...

Latitude Brokers appoint Matt Cannock as Managing Director, Singapore

PRESS RELEASE – 8 March 2022 FOR IMMEDIATE DISTRIBUTION Media Contacts: Saraid Mc Carrick – Filhet-Allard Maritime +33 5 57 53 39 05 [email protected] Andrew Brooker – Latitude Brokers +852 2154 2253 [email protected] Latitude Brokers appoints Matt Cannock as Managing Director, Singapore Bordeaux & Hong Kong, 8 March 2022 Latitude Brokers, recently acquired by Filhet-Allard Maritime, have appointed Matt Cannock ...

Joint War Committee updates War Listed Areas on 15th February 2022

On 15th February 2022, the Joint War Committee have updated the Hull War, Piracy, Terrorism and Related Listed Areas to JWLA-028: Added Europe Ukrainian and Russian waters in the Black Sea and the Sea of Azov Should you require any assistance regarding War Risks, please do not hesitate to contact us.

International Group reinsurance costs to increase by 33%

After months of rumors of a significant increase to the costs of the GXL placement, the Chairman of the International Group Reinsurance Subcommittee has now announced the 2022 rates to be as follows: Persistent Oil tankers + 15% / $0.6469/GT Clean Tankers +40% / $0.3666/GT Dry +40% / $0.5639/GT Containerships +55% / $0.6586/GT Passenger +18.6% / $3.8677/GT Chartered Tankers +33% ...