Swedish Club opts for 10% as P&I clubs wrap up 2023 general increases

In recognition of the need to maintain a balanced approach, the Board of The Swedish Club decided to set a 10% P&I General Increase for 2023. The FD&D General Increase has been set at 15%. The impact of increasing global inflation on claims costs as the main reason for the increase. 

The Gothenburg-based mutual is the last of the 13 members of the International Group of P&I Clubs to declare its policy on general increases next year. The median increase amongst the International Group Clubs is for 2023 renewal is 10%.

The release calls for 2023/24 are not confirmed. The latest update on release calls as below:

2020/2021: 15% 

2021/2022: 15%

2022/2023: 15%

The full details of the club’s position are available in their press release.