Following the UK Club's Board Meeting in Tokyo on 27th October, the Club hosted a reception at the Palace Hotel. The event was well attended by guests from the local shipping community. The Club managers were represented by the London Underwriting department together with the local office staff. UK Club Chairmen Alan Olivier presented on the importance of the Japanese shipping community and how its support reflects the UK Club's total tonnage.
Alan also confirmed how busy the board have been, and the steps taken to sustain sound underwriting and financial health. These current dynamics confirm the reasons behind the decision for the 6.5% General Increase for 2015.
The Club emerges from the renewal to start the new policy year with total mutual owned tonnage of 139 million gt, slightly higher than at the start of the previous policy year. Combined mutual-owned and chartered tonnage now stands at around 239 million gross tonnes.
The UK P&I Club ('the Club'), one of the leading providers of protection and indemnity insurance, agreed at its Board meeting on 19th November to a Mutual Premium Discount of 3 per cent on the total mutual call for the 2015 policy year.
27 October 2015, London - The UK P&I Club ('the Club'), one of the leading providers of protection and indemnity insurance, agreed at its Board meeting on 26th October 2015 that the General Increase for the 2016 renewal will be 2.5%.
At the half year, the UK Club holds free reserves and hybrid capital of $559 million. The surplus achieved in the first six months of the year contributed to this increase in free reserves, despite uncertainty in global investment markets.
