Latitude Brokers

JWLA032 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.

At a Glance – Announced IG Combined Ratios for 2024/25 Financial Years as per Annual Reports

Unless otherwise stated, combined ratios refer to the policy year 20 February 2024 to 20 February 2025. American Club – TBA Britannia – 137.7% Gard – 95.5% *For the calendar year ending 31 December 2024. Japan P&I – TBA London Club – TBA NorthStandard – 114% Skuld – 112% Shipowners Club – 98.8% * For the calendar year ending 31 ...

Latitude 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 ...

International Group announce 2025/26 GXL rises – Container ship operators hit hardest

The International Group have announced the finalised Group Excess of Loss (GXL) reinsurance structure and pricing for the 2025/26 policy year. As expected the rates have been heavily impacted by a high level of pool claim activity, most obviously with the Dali allision claim with the Baltimore Bridge. The structure of the programme remains unchanged from the 2023/24 policy year ...

Britannia downgraded from A (negative outlook) to A- (stable)

On 9 December 2024 S&P announced a revised credit rating for Britannia of A- (stable), down from A (negative outlook) previously. The reasoning for this change was listed as below: “A – The Britannia Steam Ship Insurance Association Europe (Britannia or the club) is likely to reporttechnical losses again this year, with investment returns expected to deliver a modest net ...

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 ...

NorthStandard’s Coastal and Inland class announce 6.5% General Increase

Coastal and Inland class (C&I) have broken a 14 year streak of no General Increase and announced a 6.5% rise in P&I premiums for the 2025/26 policy year. This is 1.5% higher than the GI announced by the main Club and follows a difficult year for the class who were hit by their first ever pool claim. Following 14 years ...

American Club announce 7% target rise in premiums for 2025/26

The American Club have announced no GI this year with rates being adjusted based on Member’s records, but subject to a target 7% rise overall for all main classes of business. The IG reinsurance adjustments will be charged in addition to any rise required. In addition to the premium uplifts the Club have announced a general deductible rise of 10% ...

Japan P&I announces 7% GI for Owners P&I and Chartered entries

JPI have released their 2025/26 renewal circular which details their requirements for a 7% General Increase for their Owners P&I and Charterers Liability entries. There will be no GI for FDD entries. As always, reinsurance rate adjustments will be passed on to the Membership. The Club have had a relatively good year with their latest published combined ratio for 2023 ...

Shipowners Club announce nil GI for 2025/26 policy year

The Shipowners Club have bucked the trend of required increases for the 2025/26 policy year becoming the only Club to announce a nil GI. Crucially, the Club have also announced that premiums offered at renewal would be inclusive of any adjustment to reinsurance costs. This is worded to allow the Club to raise premiums where the retained premium is insufficient ...