Company Results : Marine Insurance
Reporting and analysis on the financial performance of the companies operating in marine insurance sector – insurers, P&I clubs and brokers
- Gallagher warns that some Clubs’ investment income strategy is not without risks January 5, 2022The trend for returns of capital or premium by P&I Clubs over the past few years, with some clubs prepared to accept substantial underwriting deficits on the closing of policy years while .....
- The Swedish Club 2022-23 – further details: IG Captive reinsurer Hydra recapitalized December 21, 2021In its P&I Circular to members The Swedish Club said that the club currently insured about 1,550 vessels for owners' P&I. Total Owners gross tonnage was now 61m gt, with an additional .....
- Large claims push Skuld to negative 9mo result December 17, 2021Norway-based marine insurer and P&I Club Skuld has reported a loss of $20.5m for the first nine months of the 2021/22 fiscal year, stating that large claims had outweighed premium growth .....
- S&P downgrades UK P&I Club to ‘A-‘ from November 25, 2021UK P&I Club has had its rating revised from 'A' (Negative) to 'A-' (Stable) by rating agency S&P Global. UK Club said that the rating remains in the ‘A’ range, "a measure regarded as .....
- American Club sets minimum 12.5% General Increase, no automatic deductible increase November 22, 2021American Club has set a minimum 12.5% General Increase for policy year 2022/23. Any uplift in the cost of the Club’s own, whole-account reinsurances for 2022 will also be adjusted separately .....
- North sets 15% General Increase for policy year 2022/23; 110%-plus CR anticipated November 19, 2021North of England P&I Club's directors met virtually on November 16th to review the Club’s financial position and to consider requirements for the 2022/23 policy year ....
- Too soon for optimism for global hull underwriters: IUMI November 18, 2021Global marine hull insurance premiums reached $7.1bn in 2020 , up by 6% from 2019, according to the IUMI Stats Report, published this week. IUMI noted that a particular feature was the .....
- IUMI reports growth in hull and cargo market for 2020 November 17, 2021In the 2021 analysis of the global marine insurance market from the International Union of Marine Insurance (IUMI) (the IUMI Stats Report), it was reported that global marine ....
- Standard Club sets 7.5% general increase for Strike & Delay Class November 15, 2021Standard Club said that its Strike & Delay class committee had reviewed the financial position of the class and the requirements for renewal at February 20th 2022. It has decided to set ....
- London Club targets 12.5% increase in rates November 12, 2021London Club has said that no general increase will be set for policy year 2022/23, with the Board targeting an increase in rates of 12.5%. This would be subject to a focus on individual Member ....