Swedish Club announce 5% General Increase for 2025/26
The Swedish Club have announced a 5% General Increase for the 2025/26 policy year which puts them very much in the middle of the pack at this renewal. This GI is only applicable to P&I premiums with no rise advised for FDD. GXL reinsurance cost rises will also be passed on to Members.
In addition to the premium rise the Club have imposed a general deductible rise of 10%, subject to a minimum of USD 1,000.
The circular states that the Club have seen a slight decline in overall entered tonnage over the past 12 months. It also echoes the sentiment of many other Clubs in that the number of large claims have returned to more expected levels after a couple of benign years. Inflation has also had an impact with smaller attritional claims being of a higher value than budgeted.
The Club have been helped with their investment returns which have resulted in a strengthening in the Club’s financial position.
Release calls for open policy years have been set as below:
2021/2022 – 0%
2022/2023 – 5%
2023/2024 – 15%
2024/2025 – 15%
2025/2026 – 15%
The full circular can be found below: