Financial Information 20th Feb 2011
Performance for the year to February 2011
This year has seen the Club build on the success of last year and deliver a surplus after taxation of $63 million, raising the free reserves and capital to $478 million.
A key feature of this year’s surplus was the achievement of a combined ratio of 98 per cent, reflecting improved underwriting discipline while maintaining a prudent approach to claims reserving.
The Club now has $1.6 billion in total assets and with a free reserve ratio (asset to liability) of 159 per cent is one of the strongest clubs in the International Group.
The excellent underwriting result has been supported by an investment return of 6.2 per cent, which outperformed the benchmark portfolio whilst balancing the risk of the various asset types in what is still an uncertain investment market for both fixed interest and equities.
The Club has successfully rebuilt its capital position through careful management and continues to deliver the highest quality of service to Members in what have been volatile and challenging times.
Financial strength
- Capital and reserves increased to $478 million
- Capital and reserves per ton increased to $4.5
- Standard and Poor’s rating of A- (Stable)
- Capital adequacy per the S&P capital model comfortably in the AA range
- Total assets $1.6 billion
To download a pdf on the full report and accounts click here
Rules & Bye-Laws 2012
The UK Club cover is comprehensively described in its Rule Book. A contents page at the front of the book includes links to all the listed rules, click on the rule to jump to the correct page.