PILOT° by Latitude Brokers

Britannia

S&P rating A. Club Manager: Tindall Riley (Britannia) Limited. Operational HQ: London. Asian Offices: Hong Kong, Singapore and Tokyo

	2017-18	2018-19	2019-20	2020-21	2021-22
General Increase on ETC	0.00	0.00	0.00	n/a	0.00
Percentage called of ETC	100.00	100.00	100.00	100.00	100.00
Release calls latest estimate	0.00	0.00	0.00	5.00	7.50
Owned GT (Millions)	100.4	106.9	111.9	117.5	125.2
Chartered GT (Millions)	15.0	20.0	19.0	45.0	53.5
Combined GT (Millions)	115.4	126.9	130.9	162.5	178.7
Total Call Income (US$ Millions)	196.1	198.5	191.3	196.3	n/a
Free Reserves (US$ Millions)	641.6	587.6	594.4	626.9	n/a
Combined Ratio	131.30	139.82	152.41	173.41	n/a
Investment Yield	3.72	-0.14	5.70	4.86	n/a

Call Structure: Since 20 February 2020 ETC

Since 2020: no GI declared but internal target set out, 7.5% for 2020-21, undisclosed for 2021-22.

Owned GT (Millions)	117.5
Market Share of Owned GT	8.82%
Chartered GT (Millions)	45.0
Combined GT (Millions)	162.5
Free Reserves (US$ Millions)	626.9
Total Call Income (US$ Millions)	196.3

Free Reserves per Combined GT (US$)	3.9
Total Call Income per Combined GT (US$)	1.21
Free Reserves to Total Call Income Ratio	319%
Current 5-year average combined ratio	139%
Current 5-year average investment yield	3.51%
Last Unbudgeted Call	1974
Last Return of Call	2019

% of Owned GT	72.31%
% of Chartered GT	27.69%