Latitude Brokers

At a glance – 2023/2024 P&I Renewals

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 – click on each Club’s link to see the full GI announcement or for real time data comparison, use American Club – target minimum ...

North of England declares 10% for 2023

The North have declared a 10% increase in premium rates at the forthcoming renewal for P& I Class and 15% on FD&D class. Members with adverse loss records will therefore have their rates and terms adjusted in excess of these minimum requirements, and adjustments to the IG reinsurance programme will be passed on to Members as usual. In order to ...

Standard Club announces 10% GI for 2023 renewal

The Club has announced that it is seeking a 10% General Increase on P&I and Defense class premium rates for the 2023/24 policy year. The management will carry out analysis of individual owners’/members’ rating adequacy, terms and deductibles along with historical and forecast claims exposures, and additional contributions will be sought from owners/members with adverse records. The club’s investment portfolio, ...

Skuld targets 10% overall premium increase for 2023

The Board of directors have acknowledged that notwithstanding the benign large claims environment this year, the technical result for the mutual products remain negative. The combined ratio on an operational level for all products is positive at the half year stage, and the efforts to improve the performance of the mutual portfolio need to be sustained, particularly as the Clubs ...

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 ...