Report & Accounts 2014 Published


The Club’s return to the top level of our industry, both in terms of capital and its underwriting discipline, has been recognised by Standard & Poor’s in their decision to restore the Club’s full A (Stable) rating. It is a very significant event for the Club, but we should not see this as an end in itself. Having restored the Club’s  financial position, we have now to make sure that we put a similar level of effort into maintaining our reputation for best in class service.

This year the Club has increased its free reserves and capital by $34 million. This takes the Club’s total capital to a new high of $528 million, comprising the underlying free reserves of $430 million and hybrid capital of $98 million. The outcome reflects a sound underwriting result in the face of mounting claims costs during the 2013 policy year, and an investment return of 4.5% amounting to $44 million.

The financial year combined ratio of 102% represents the fourth consecutive year of combined ratios close to 100%.

Industry developments

Polar Shipping

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.


MLC 2006

The Maritime Labour Convention enters into force in August 2013 - resources, news & advice on implementation can be found in this dedicated section.  READ MORE


International sanctions

Recent guidance & corresponding material in respect of international sanctions against various countries has been updated with respect to temporary easing of sanctions against Iran.  READ MORE


Piracy

Essential precautions and preparation against piracy, as well as additional information and resources, loss prevention advisories and useful external web links


Emergency Contacts


If you need to call our offices out of hours and at weekends, click After Office hours for a up to date list of the names of the Duty Executives and their mobile phone numbers. 

Ship Finder


This Ship Finder is updated on a daily basis. Members who need to advise the Club of updates to their recorded ships' details should advise their usual underwriting contact.