Following the Club’s interim results as at 20 August 2022, the Club has advised of satisfactory underwriting results with 85% Combined Ratio Net, but as other Clubs disappointing investment performance. The Club’s overall financial position remains very strong, and therefore they have confirmed the 5% Owner’s General Discount on 2023 ETC. At the same time, the focus on balanced underwriting results must remain, and therefore Owners should expect increases in P&I premiums, according to individual claims performance and risk profile, with forecast 5%-7% increase for Members with an acceptable record.

Adjustment to the IG reinsurance rates will be passed on to Members in the usual practice.

P&I Release calls

2020 policy year: 5%

2021 policy year: 5%

2022 policy year: 10%

2023 policy year: 10%

The Club’s position is fully detailed in Circular 10/2022 and News dated 07.11.2022

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