UK P&I Club has reported “a strong, disciplined renewal in a competitive market”.
Manager Thomas Miller said that mutual tonnage was now 143m gt.
This compares with a reported 144.3m gt this time last year and 138.5m gt the year before that.
The Club said that it continued to add “carefully selected tonnage with an encouraging number of future commitments from existing Members”. There was no reference to the new chartered tonnage amount, which this time last year was reported at “around 100m gt” for 2019/20 (IMN February 22nd 2019).
Thomas Miller P&I CEO Andrew Taylor said that the Club was “committed to delivering high standards of service and innovative safety initiatives for our Members. We continue to seek ways to deliver P&I cover at competitive rates while retaining focus on individual Member rating adequacy. The Club emerges from this renewal in a stronger position for 2020 and beyond. The UK Club and its Board greatly appreciates the continuing commitment of the membership and the support of the insurance broking community during the 2020 renewal.”