Review of the Year 2016
2015 has been another strong year for the Club. The importance of consistent disciplined underwriting was evident in a year of volatility in the investment markets. The combined ratio for the financial year was 92%, better than the Club’s target of 100%.
With six consecutive financial years at or close to break even, the Club has developed a strong track record for balanced underwriting. This consistent underwriting performance enabled the Board to discount the 2014 policy year mutual premium by 2.5%.
Global investment markets were less favourable. Given the prevailing conditions, the Club’s return of negative 1% (excluding the impact of foreign exchange) was respectable.
At 20 February 2016, the Club held free reserves of $448 million with a further $99 million held in hybrid capital.
The 2016 Review of the Year is now available to download as a pdf. Hard copies will be mailed to Members in the next few weeks.
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