The UK Club leads from a strong financial position

The Club’s financial position remains strong with free reserves of $534 million as at 20 August 2021. The Club continues to comfortably meet all its regulatory capital requirements. The UK Club provides Members with security with its A - Standard & Poor's rating.

Finances

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At their meeting in May 2022, the Directors closed the 2019 policy year. The deficit was transferred to the reserves.

The Club’s financial position remains strong with free reserves of $488 million as at 20 February 2022. The Club continues to comfortably meet all its regulatory capital requirements and remains in the highest AAA band of Standard & Poor’s capital model. 

Over the last eighteen months, we have witnessed the most dramatic change to working and economic conditions in our lifetime. However, the Club and the shipping industry have shown considerable resilience under these difficult circumstances.

This Solvency and Financial Condition Report ("SFCR") covers the Business and Performance of The United Kingdom Mutual Steam Ship Assurance Association Limited ("UKC" (solo basis) or "the Group")