After months of rumors of a significant increase to the costs of the GXL placement, the Chairman of the International Group Reinsurance Subcommittee has now announced the 2022 rates to be as follows:

Persistent Oil tankers + 15% / $0.6469/GT

Clean Tankers +40% / $0.3666/GT

Dry +40% / $0.5639/GT

Containerships +55% / $0.6586/GT

Passenger +18.6% / $3.8677/GT

Chartered Tankers +33% / $0.2909

Chartered dries +33% / $0.1420/GT

Malicious Cyber, Covid-19 and pandemic risks remained cover under the GXL.

Full details of the Reinsurance structure for 2022 is available on the International Group of P&I Clubs website.