UK P&I Club said yesterday February 20th that it had experienced a good renewal for the 2019/20 policy year, “achieving growth by attracting quality tonnage”. The Club’s mutual owned tonnage has reached 144m gt, a net increase of 5.4m gt mutual business over the year.
Mutual tonnage at the start of the new policy year is 144.3m gt. A further 3.3m gt is committed to the Club, at agreed rates, as part of renewal negotiations, and 99% of the existing entered ships renewed.
Chartered tonnage remained around 100m gt for 2019/20
Thomas Miller P&I CEO Andrew Taylor said that “the UK Club and its Board greatly appreciates the continuing commitment of the membership and the support of the insurance broking community during the 2019 renewal. We are pleased that the Club’s high standards of service and commitment to quality attracted more tonnage from existing Members and new business to the UK Club.”