This Solvency and Financial Condition Report (“SFCR”) covers the Business and Performance of The United Kingdom Mutual Steam Ship Assurance Association (Bermuda) Limited (“UKB”) and The United Kingdom Mutual Assurance Association (Europe) Limited (“UKE”)
Directors' Report & Financial Statements for the year ended 20th February 2018.
2018 Review of the Year and assets and income tables now available to download from the Club's website.
2017 half-year financial results published. A solid performance from the Club at the half year.
This Solvency and Financial Condition Report (“SFCR”) covers the Business and Performance of the Association, its System of Governance, Risk Profile, Valuation for Solvency Purposes and Capital Management.
Directors' Report & Financial Statements for the year ended 20th February 2017.
The Review of the year 2017 details the Club's financials and claims experience. 2016 has been another strong year for the Club. Despite a small number of large claims notified to the Club towards the end of the year, a decent underwriting result and strong performance within the investment markets have enabled the Club to record a surplus for the ninth year in a row.
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. Full details of the Club's half year financials are available in the attached '2016 Autumn Review'.
Review of the year and Financial Statements of the Club for the year ended 20th February 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%. Full details are available in the Club's 2016 Review of the Year.