2015 Reinsurance rates announced

The International Group reinsurance sub-committee announced yesterday that it had concluded terms for 2015 in respect of the excess of loss reinsurance.

The Club will formally publish its customary circulars following the board meeting at the end of January. The revised rates for the 2015 policy year are set out below and an explanation of the background to the renewal is attached.

International Group General Excess of Loss Reinsurance Contract Renewal 2015 policy year

The International Group RI rates (per GT) including Hydra premium, Collective Overspill Cover and excess war risk P & I ($0.00725) for the year commencing 20 February 2015 are as follows:-

Tonnage Category

2015 rate per gt

% change from 2014

U.S. Oil Pollution Surcharge 2015

Following the decision taken for the 2014/15 policy year, the surcharge will remain at nil for 2015/16