Our Club has built on the success of last year increasing capital and free reserves by $68 million to an all-time high of $478 million.

The Club's financial strength is now one of the strongest in the International Group with $1.6 billion in total assets, and a free reserve and capital ratio of 159 per cent. The positive investment return of more than six per cent - equivalent to nearly $70 million - further strengthened the Club's financial position.

A combined ratio of 98 per cent, reflecting both improved underwriting discipline and prudent claims reserving, was key to this surplus.

The UK Club is currently rated A- (stable outlook) by Standard & Poor's. According to the rating agency, the Club's strong capitalisation is supported by very strong capital adequacy which falls comfortably within the AA range of S&P's capital model. A full A rating remains a key financial target for the Club.

As the Club's results for the year ended 20th February 2011 were reported to the Board in Seoul this week our chairman, Dino Caroussis, commented:

"We have achieved our goal of balanced underwriting so that all the $69 million investment return of the year is transferred to the reserves. The Club's $478 million free reserves and capital are the highest they have ever been, our Members can be confident that the process of rebuilding the Club's reserves has been successful. The Club is back in a position of considerable financial strength from which to meet the challenges of the future."

The Review of the Year provides a sixteen page review of the Club's financial performance and other activities over the year to 20th February 2011. It includes essential graphs detailing the claims performance, free reserves & capital and investment structure and performance.

The customary circular, 6/11, formally comments on the closure of the 2008 policy year and the performance of those more recent policy years which remain open.

The full Report and Accounts of the Club is due to be published in July this year as usual.

All these publications are brought together in the Financial information section of About the Club which can be found in the main menu at the head of this website.