2016 Autumn Statement
The Club’s performance over the first six months of the year has been extremely strong.
After six months of the year, total notified claims on the prudently reserved 2016 policy year are encouraging with few large claims within the Club or Pool retentions. Claims on prior policy years have also developed favourably.
The underwriting result has been supported by a strong investment return. The Club’s investment portfolio achieved a healthy return of 3.7% over the first six months of the year with global markets performing above expectations.
The Club maintains a matched portfolio which has provided protection against the significant movements in exchange rates between some of the world’s key currencies over the first half of the year, particularly between the US Dollar and Sterling. Although a significant proportion of the Club’s costs are incurred in Sterling, the vast majority of income is received in US Dollars.
The Club has therefore taken the opportunity to lock in savings arising from the weaker Sterling for future years.
After six months of the year, the UK Club holds free reserves and hybrid Capital of $571 million. This equates to an increase of $24 million since the previous year end.
Full details of the Club's half year financials are available in the attached '2016 Autumn Review'.
Legal, navigational and environmental resources, news and updates on the development of polar shipping. Read more
US VRP Compliance
With effect from 30th January 2014 non-tank as well as tankships calling at US ports will be required to submit VRPs. For Club and other resources to assist in compliance click here
International Environmental compliance
Environmental Compliance resource page collates material in respect of International environmental compliance issues affecting our Members. Information from the Club, Loss Prevention and external resources has been collated in one place for ease of reference.
The Maritime Labour Convention enters into force in August 2013 - resources, news & advice on implementation can be found in this dedicated section. READ MORE
Essential precautions and preparation against piracy, as well as additional information and resources, loss prevention advisories and useful external web links