In its recent analysis of the current state of play among P&I Group Clubs, broker Marsh noted that UK Club’s 104% CR for 2022 represented an improvement over 2021 (115%) and was a significant improvement on the club’s 2020 CR number (150%).
Following the club’s decision to provide underwriting capacity to Thomas Miller Speciality (TMS), its GWP for 2022 rose to almost $510m, up from $354m in 2021. “It is difficult to determine whether the TMS account contribution has driven the club’s overall CR, but the change in position is evident in this year’s reported results”, said Marsh.
| KPI $m | 2021 | 2022 |
| GWP | 353.75 | 509.9** |
| Claims | 217.7 | 249.9 |
| Reserves | 488.3 | 430.4 |
| % CR | 115 | 104 |
** Including TMS in 2022