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 rate changes passed on to Members unless otherwise specified. ...
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% ...
Continue ReadingAmerican Club Announces 35% Supplementary Call for 2022 Policy Year
The American Club have released their 2024 circular relating to the development of closed and open policy years. The circular starts by stating that the Club has seen a small increase in gross written premium and a positive development on their closed policy years. However, with regard to the 2022 policy year, the Club have announced an unbudgeted supplementary call ...
Continue ReadingWar Risks Notice of Cancellation issued by P&I and Charterers Liability Clubs, effective 20 February 2024
All International Group Clubs as well as fixed premium Charterer’s Liability insurers are now issuing Notices of Cancellation (NOC) on P&I and Charterer’s Liability War Risks effective from 20 February 2024 for any vessels transiting or trading in the Red Sea or Gulf of Aden and Indian Ocean (as detailed below). The covers affected include, but may not be limited ...
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