The Club’s funds have continued to strengthen in the first half of 2012 with free reserves and capital increasing by US$8 million to US$494 million. Underpinning this result was a respectable underwriting performance in the face of mounting claims costs, and an investment return of 3.7%, equivalent to $39.6 million.
With the Club’s owned tonnage at 20th February at 120million GT, this represents free reserves and hybrid capital of US$4.11 per gross ton and a free reserve ratio of 165 per cent.
Electronic publishing of financial statements in 2013
With effect from 20th February 2013, the UK Club’s Directors’ Report and Financial Statements will be distributed solely in electronic format.
It will be published on the Club website as a PDF for download by Members.
Any requests for physical copies in support of discussions with regulators and governmental agencies should be directed to your usual Club contact.