PILOT° by Latitude Brokers

Historical Data

West of England
S&P rating BBB+ (Oct 2022). Club Manager: West of England Insurance Services (Luxembourg) SA. Operational HQ: London. Asian Offices: Hong Kong and Singapore
COMPARE CLUB DATA
2017-18 2018-19 2019-20 2020-21 2021-22
General Increase on ETC 0.00 0.00 5.00 2.50 7.50
Percentage called of ETC 100.00 100.00 100.00 100.00 100.00
Release calls latest estimate 0.00 0.00 0.00 10.00 15.00
Owned GT (Millions) 83.6 90.5 93.8 101.9 106.9
Chartered GT (Millions) 27.5 30.0 43.8 43.1 47.5
Combined GT (Millions) 111.1 120.5 137.6 145.0 154.4
Total Call Income (US$ Millions) 203.2 206.3 209.3 229.4 248.7
Free Reserves (US$ Millions) 308.5 306.4 338.2 291.1 215.7
Combined Ratio 133.94 129.70 123.93 141.57 133.27
Investment Yield 4.01 3.67 5.97 3.61 -0.63

NOTES

Call Structure: from 20 Feb 2020 Total Mutual Call inclusive of GXL reinsurance costs as per Circular 7 2019/2020

As per Circular 17 2017/2018, from 2018 PY, the Club will charge Total Mutual calls at inception, payable in 5 instalments, and any Increase will be applied on the Total Mutual Calls.

Key Development Statistics
PY 2021-22 Tonnage
As per Policy Year 2021-22
Owned GT (Millions) 106.9
Market Share of Owned GT 7.76%
Chartered GT (Millions) 47.5
Combined GT (Millions) 154.4
Free Reserves (US$ Millions) 251.7
Total Call Income (US$ Millions) 248.7
Free Reserves per Combined GT (US$) 1.6
Total Call Income per Combined GT (US$) 1.61
Free Reserves to Total Call Income Ratio 101%
Current 5-year average combined ratio 132%
Current 5-year average investment yield 3.13%
Last Unbudgeted Call 2008
Last Return of Call Never
 
Europe41.00%
Asia Pacific46.40%
Americas3.80%
Rest of the World8.80%
 
Bulkers42.30%
Containers / General Cargo18.60%
Offshore0.00%
Passengers1.20%
Tankers / Gas Carriers35.00%
Others2.30%
 
% of Owned GT69.24%
% of Chartered GT30.76%
COMPARE CLUB DATA

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