Broker Gallagher has published the combined figures for the P&I Clubs for the past three full policy years.
The table shows the composite results of the International Group Clubs for the last three years.
Aggregate Final Year Results
|In ‘000s of USD||2019-20||2018-9||2017-18|
|Original Call Income||3,808,606||3,760,733||3,819,421|
|Actual Call Income||3,729,606||3,709,725||3,691,203|
|Exchange Gains / (Losses) etc||(14,356)||(63,791)||18,945|
|Cash and Investments||11,889,801||11,676,097||12,195,663|
|Other Net Assets||397,695||364,716||167,461|
|Net Outstanding Claims||6,752,325||6,686,899||6,605,208|
|Capital Transactions in Year||(41,324)||(133,266)||(30,000)|
Figures include the pledged assets of Boudicca Insurance Co Ltd, Figures for those Clubs who do not report as at February 20th are included on the basis of their results for the nearest year-end to 20 February of any given year. No adjustment is made to eliminate inter-Club transactions, in particular pooling transactions.
For all years, figures include the non P&I operations, assets and liabilities of all Clubs eg Gard Marine & Energy, Sunderland Marine, Skuld and Standard’s Lloyd’s run off syndicates etc. In 2018-19 the Standard Club acquired the Strike Club which added $18.5m to Free Reserves. In addition, during 2018-19 the UK Club repaid its $100m hybrid capital.
During both the 2017-18 and 2018-19 years Britannia made $30m capital distributions, and a further $25m in 2019‑20.
Steamship Mutual also returned capital amounting to $21.9m in 2018‑19 and $16.3m in 2019-20. Figures reflect prior year application of changed accounting policies, where appropriate.