Swedish Club announces 12.5% GI for 2022
The last IG Club to announce their position for 2022 P&I renewal, the Swedish Club has now advised that they are seeking a 12.5% General Increase for 2022. The Circular is not yet available but the Press release is available here.
Continue ReadingFilhet-Allard Maritime acquires controlling stake in Latitude Brokers
PRESS RELEASE – 8 December 2021 FOR IMMEDIATE DISTRIBUTION Media Contacts: Saraid Mc Carrick – Filhet-Allard Maritime +33 5 57 53 39 05 [email protected] Andrew Brooker – Latitude Brokers +852 2154 2253 [email protected] Filhet-Allard Maritime acquires controlling stake in Latitude Brokers Bordeaux & Hong Kong, December 8th, 2021 Filhet-Allard Maritime, the France-based leading insurance broker for the commodities trading, shipping ...
Continue ReadingThe American P&I Club announces 12.5% GI for 2022 and more supplementary calls
Following the Club’s Circular dated 25 June 2021 on Annual Report and Accounts for 2020, the Board has determined that the premium earned but unbilled (EBUB) for 2018 and 2019, should now be billed in the form of supplementary calls: 2018: 15% supplementary call on current ETP 2019: 35% supplementary call on current ETP With regards to 2020 Policy year, ...
Continue ReadingGard will seek premium increases but no GI
Gard has determined that whilst P&I premiums will have to be increased for 2022 policy year, they will not apply a General Increase at 20 February, but instead they will adjust individual rates based on risk and claim performance. Notwithstanding the increase, the Club will provide a 5% Owners’ General Discount on the thus agreed 2022 ETC. Any increase in ...
Continue ReadingJapan P&I Club announces 10% GI for 2022
The Japan P&I Club has announced 10% General increase on P&I Advance Call rates and FD&D premiums for 2022 renewal, with estimated supplementary calls set at 40% for P&I and 20% for FD&D as per previous years. Charterers entries will also be subject to 10% General Increase in Premium. In addition Members’ rates will be adjusted according to their own ...
Continue ReadingSkuld will seek minimum 10% increase on P&I and FD&D for 2022 renewal
Skuld’s Board has set out that a minimum 10% market adjustment, irrespective of Members performance, will be necessary on P&I and FD&D mutual entries to address the significant increase in pool and large claims as well as attritional claims due to Covid. Members with challenging claims record will face additional adjustment. As usual any change in the costs of the ...
Continue ReadingUK P&I Club sets 2022 General Increase at 12.5%
The Boards of the Club have set a General Increase of 12.5% on P&I rates for 2022 renewal to address the underwriting deficit. In addition, the rates will be adjusted based on individual loss records, and to reflect any change in the International Group Reinsurance Programme. P&I Release calls are updated as follows: 2019: 5% 2020: 10% 2021: 15% 2022: ...
Continue ReadingBritannia Total Calls target increase 12.5% for 2022, with further Capital Redistribution
The Club’s Board met on 19 October 2021, and as per last year, whilst they are not setting a general increase, their stated target is to increase Total Calls for 2022 by 12.5%. In order to achieve this objective, they will review and underwrite each Member based on their individual performance and exposure. Any change in the cost of the ...
Continue ReadingWest of England opens GI announcements with 15% for 2022
At the meeting on 12 October, The Board of Directors have decided to take further actions to address the technical deficit and combined ratio expected to be in excess of 100% for this year again: they have accordingly announced a 15% General Increase on mutual P&I rates for 20 February 2022, with de-risking actions and further adjustments for Members with ...
Continue ReadingAt a Glance – 2021/2022 P&I renewals
The following is solely in respect of the Mutual P&I entries and excludes FD&D, fixed premium entries and charterer’s liability. The headline General Increase numbers are as follows and will be updated as each Club announces – click on each Club’s link to see the full GI announcement or use for real time data comparison: American Club – 5% for ...
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