PILOT° by Latitude Brokers

The UK P&I Club

S&P rating A. Club Manager: Thomas Miller. Operational HQ: London. Asia Offices: Hong Kong, Singapore, Shanghai, Tokyo and Imabari

	2017-18	2018-19	2019-20	2020-21	2021-22
General Increase on ETC	0.00	0.00	0.00	0.00	10.00
Percentage called of ETC	100.00	100	100.00	100.00	100.00
Release calls latest estimate	0.00	0.00	5.00	5.00	10.00
Owned GT (Millions)	139.0	144.7	144.0	137.5	139.0
Chartered GT (Millions)	100.0	100.0	108.0	108.0	100.0
Combined GT (Millions)	239.0	243.7	252.0	247.5	239.0
Total Call Income (US$ Millions)	357.4	323.9	306.4	279.3	283.5
Free Reserves (US$ Millions)	637.0	504.8	559.2	507.4	488.3
Combined Ratio	110.63	130.29	121.94	146.36	134.47
Investment Yield	2.78	1.71	7.66	3.78	1.48

Call Structure: 100% Estimated Total Calls (ETC)

2020 No General increase but target overall 7.5% increase

Owned GT (Millions)	139.0
Market Share of Owned GT	10.09%
Chartered GT (Millions)	100.00
Combined GT (Millions)	239.0
Free Reserves (US$ Millions)	488.3
Total Call Income (US$ Millions)	283.5

Free Reserves per Combined GT (US$)	2.0
Total Call Income per Combined GT (US$)	1.19
Free Reserves to Total Call Income Ratio	172%
Current 5-year average combined ratio	129%
Current 5-year average investment yield	3.48%
Last Unbudgeted Call	2008
Last Return of Call	2015

% of Owned GT	58.16%
% of Chartered GT	41.84%