NorthStandard’s Coastal and Inland Class announces no General Increase on mutual entries for the 14th consecutive year. 10% increase to apply to fixed premium entries.
In addition to confirming no General Increase to apply to the Club’s mutual entries Coastal and Inland have also confirmed that any international group reinsurance increases will be absorbed by the class. Deductibles will however be reviewed on a case by case basis. For Members entered on a fixed premium basis a 10% premium increase will apply. No release calls ...
Continue ReadingSkuld aims at a 5% increase on ETC for 2024 Policy year
The Board of Directors have highlighted the positive impact of the Club’s growth strategy on premium income, the absence of large claims and therefore continue to expect positive underwriting results. However in view of inflation and volatility in the investment markets, the Club is targeting a 5% increase on Estimated Total Call for 2024, based on assessment and adjustment of ...
Continue ReadingNorthStandard announces 5% General Increase for first renewal post merger
The Board of the newly formed NorthStandard have advised that whilst the Club performances in terms of claims and investment are as per projections, external factors such as geopolitical instability and inflation continue to require some adjustment in premium levels to preserve the Club’s financial position. The Club has therefore declared a 5% General Increase in premium rates for 2024 ...
Continue ReadingLondon Club targets an overall increase of 7.5% for 2024
With income and tonnage growth in 2023/2024 as projected, a better than expected combined ratio in August, and breakeven year to date investment result, the Club will continue to take a prudent approach to address inflation in claims and operating costs. The Club has therefore decided that they will not set a general increase, but advised that they are targeting ...
Continue ReadingGard returns 10% as OGD and announces 5% GI for 2024 renewal
The Club’s Board has decided: As per usual practice, the Club will also review individual Members performance for adjustments as necessary, and any adjustment to the Club’s excess of loss reinsurance programme will be passed on to Members at costs. Release calls have been approved as follows: 2021: 5% 2022: 5% 2023: 10% 2024: 10% Full details of the Board’s ...
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 ...
Continue ReadingSwedish Club announces 5% GI for 2021
The last Club to announce, the Swedish Club has advised they will 5% General Increase for 2021 P&I renewal as per last year, and 10% for FD&D renewal The Club will also address premium and deductibles adequacy by reviewing loss records individually. Release Calls are set as follows: 2018/19: 5% (P&I) and 0% (FD&D) 2019/20: 12% (P&I) and 0% (FD&D) ...
Continue ReadingShipowners P&I Club to apply 5% GI for 2021
For the end consecutive year, the Shipowners P&I Club have announced they will apply a 5% General Increase at next renewal. The Club will absorb any adjustment in premium for the International Group excess of loss programme. In addition deductibles below USD50,000 will be increase by 10% and for deductibles below USD5,000 a minimum increase of USD500 will apply. Records ...
Continue ReadingNorth of England announces 10% GI for 2021
The Club has announces the following remedial measures to address the declining premium levels: 10% General Increase on P&I premium Crew and other people related claims: Deductibles below USD25,000 to be increased by a minimum of USD2,500 Other Deductibles below USD25,000 to be increased by a minimum of USD1,000 5% General Increase on FD&D Premium Release calls (P&I and FD&D ...
Continue ReadingThe UK Club announces 10% GI for 2021
The Board of the UK Club has decided to set the General Increase for 2021 P&I entries at 10%, in order to address the premium deficit. Any change in the IG reinsurance costs will be passed on to Members as per usual. Release calls: 2018:5% 2019: 10% 2020: 15% 2021: 20% Full details of the Club’s circular is available on ...
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