The Swedish Club announces Nil General Increase for 2019 renewal
The Club’s board anticipates the current underwriting year to be in balance and therefore to continue supporting their Members, they have advised that no general increase will be sought for 2019 P&I renewal. They want to ensure however that premiums are commensurate with exposure, and therefore Members’ premium will be adjusted according to individual exposure. The Club’s release calls remain ...
Continue ReadingSwedish Club announces nil General Increase for 2018/19
The Swedish Club joined the pack on 7th December 2017, announcing that for the 3rd consecutive year, they will not be applying a General Increase for 2018 renewal. More details will follow, but in the meantime, full details are enclosed in their Press release.
Continue ReadingSwedish Club announces nil General Increase for 2017
The Swedish Club has announced they will be seeking a nil General Increase for the 2017 renewals. The Club will not increase deductibles or make other changes to the cover, aside from increasing the FD&D limit to USD10m (up from USD5m). No further information was provided, but the full Circular can be found here.
Continue ReadingAt a glance – IG Club General Increases for 2017
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 – 0% for ...
Continue ReadingSwedish Club 2016 General Increase announced
The Swedish Club has announced a nil General Increase for the 2016 policy year for both P&I and FD&D classes with any changes in the GXL Reinsurance programme being passed on to Members. Deductibles will be increased by USD1000 for cargo and crew liabilities. Release calls have not been updated yet. The full circular can be found here or on ...
Continue ReadingOverview of 2016 IG P&I Club General Increases (Final)
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: American Club – 2.5% Britannia – 2.5% Gard – 2.5% Japan – 3% London – 5% North of England – 2.5% Shipowners – 0% Skuld – (not applicable) ...
Continue ReadingReduction in the IG Excess Reinsurance Programme for 2015
Negotiations have been finalised for the International Group General Excess of Loss reinsurance contract and the favourable Pool claims experience for 2012, 2013 and 2014 policy years, have enabled the group to achieve rate reductions: minus 8.11% for clean and dirty tankers minus 6.05% for dry cargo vessels and no increase for passenger vessels and chartered entries. The Clubs apart from ...
Continue ReadingSwedish Club receives A- rating from AM Best
The Swedish Club has received an upgrade from AM Best to an A- (Excellent) rating. Standard & Poor’s reaffirmed it’s “BBB+” rating earlier this year, although they had raised their assessment of the Club’s capital adequacy and earnings to ‘strong’. At the same time, the London Club, managed by A Bilbrough, have received their first interactive rating of ‘BBB’ from ...
Continue ReadingSwedish Club announces 2015 General Increase
The Swedish Club announced they will be seeking a 2.5% general increase for mutual P&I entries and a 5% increase for FD&D entries for the 2015 policy year. The Club will also increase crew P&I deductibles by USD1000 from 20 February 2015. The brief press release can be found here.
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