North of England announces nil General Increase for 2017 and 5% Credit on 2016 year (Updated)
Updated 26 November 2016 Since the below announcement by the Club, they have clarified that the premium credit for 2016 is not conditional upon renewing in 2017. However, for Members who do renew, the premium credit will be offset against the first instalment for 2017/8. The North of England has announced they will not be seeking a general increase in ...
Continue ReadingAmerican Club announces nil General Increase for 2017
The American Club has announced they will not be seeking a General Increase for 2017 on their mutual or fixed P&I and FD&D entries. The Club has updated their Release Calls on open years as follows: 2017 – 20% 2016 – 20% 2015 – 15% 2014 – 12/5% In addition, the Club has increased the following deductibles: SCOPIC claims to ...
Continue ReadingUK P&I Club announces 3% return on 2015/16 and Nil General Increase for 2017 renewal
The UK P&I Club, in line with all other IG Clubs so far has announced that they will not be seeking a General Increase across their Membership, but will focus on individual performance and records. The standard deductible will be increased to from USD10,000 to USD12,000 per event from 20 February 2017. At the same time, the Club will return ...
Continue ReadingSteamship Mutual announce nil General Increase for 2017 and 10% rebate for 2014/15 policy year
Following their meeting on 25 October, the Steamship Mutual has decided to return capital to the Club’s Members. The return will be 10% of premium paid on Class 1 (P&I) owned mutual entries in respect of the 2014/15 policy year. It was also decided that no General Increase was required at the 20 February 2017 renewal – this being the ...
Continue ReadingGard announces nil General Increase for 2017
Gard have announced that no General Increase will apply for the 2017 P&I and FD&D renewal and that Members should continue to budget for the current 25% Deferred Call on the 2016/7 year. Gard would usually announce any reductions in their Deferred Calls for 2016 at their Board meeting in May 2017. The decision to announce a nil General Increase, ...
Continue ReadingStandard Club announces nil General Increase and 5% return
Following its board meeting in Tokyo on 21st October, the Standard Club has announced stable underwriting results and a healthy investment forecast for the current year. Free reserves are expected to increase at the year ending February 2017 and, as such, the board has decided that there will be no general increase for the coming 2017 renewal and the Club ...
Continue ReadingBritannia announces nil GI for 2017 and reduces Deferred Calls for 2014 and 2015 Policy years.
Britannia P&I Club also announces no general increase on P&I and FD&D rates for 2017 renewal. At the same time, the Club is reducing 2014/15 and 2015/16 Deferred P&I calls as follows: 2014/15: the deferred call is reduced to 35% from 45% originally, then 40% in November 2014 and 37.5% in October 2015. 17.5% was collected in October last ...
Continue ReadingNil General Increase for West of England
Further to the Club’s Board meeting earlier this week, West of England has announced that they will not apply any General Increase on Advance Calls at 2017 renewal across their Owners P&I, Charterers’ Liability and FD&D entries for the second consecutive year. The Forecast Additional Call (due on or before 20 August 2018) is set at 35% of the Advance ...
Continue ReadingNil General Increase for SOP whilst Skuld confirms Return Premium and Steamship is considering
The Shipowners P&I Club has just opened the ‘General Increase announcement’ season by releasing their half-year financial results, which shows an increase in the Club’s free reserves to USD291.2 million as at 30 June 2016. Last year, the Club announced that they will change their financial year from 20th February to 31st December, and after reporting free reserves as at ...
Continue Reading