At its meeting on June 3rd the Shipowners’ Club board considered the open policy years and in particular the 2018 policy year, which is now three years old.
The Board said that, while the 2018 policy year was currently forecast to produce an underwriting loss, the Board noted the Club’s overall strong capital position and therefore agreed that the year could be closed without additional call.
The Board considered the open policy years for 2019, 2020 and the current 2021 year and agreed to maintain a nil additional call estimate.
The Club’s policy of adopting a nil release call for all open years remains.
https://www.shipownersclub.com/closure-of-the-2018-policy-year-without-additional-call/