No general increase is set for P&I and FD&D renewals by London P&I. The renewal terms will be based on individual Member loss records and risk profiles incorporating the anticipated impact of inflation on future claims costs. . The Board has instructed Management to pay particular attention to the adequacy of all fleet rating and deductible levels so that an equitable contribution to a balanced underwriting result is made by all Members of the Club.

No changes in deductibles for renewal.

Any adjustment to the cost of the Club’s share of the IG’s excess loss reinsurance program, which has not yet been determined, will also be applied.

With bond prices being inversely related to interest rates, the Club has at the time of writing recorded an investment loss of 5.3% in the current financial year. Much of this loss remains unrealized and will unwind in the form of higher future yields to maturity

Release Calls:

2020/21: 5% for P&I and FD&D

2021/22: 15% for P&I and FD&D

2022/23: 15% for P&I and FD&D

2023/24: 15% for P&I and FD&D

Full details of the Club’s announcement are available in their circular.

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