The International Group today announced that it had concluded terms for 2016 in respect of the excess of loss reinsurance.
The Club will formally publish its customary circulars following the Board meeting on 1st February. The revised rates for the 2016 policy year are set out below.
International Group General Excess of Loss Reinsurance Contract Renewal 2016 policy year
The International Group RI rates (per GT) including Hydra premium, Collective Overspill Cover and Excess War Risk P & I for the year commencing 20 February 2016 are as follows:-
Tonnage Category
2016 rate per gt
% change from 2015
DIRTY TANKERS
$0.6567
% - 10.25
CLEAN TANKERS
$0.2816
% - 10.26
DRY CARGO VESSELS
$0.4537
% - 7.18
PASSENGER VESSELS
$3.5073
% - 7.19
Further explanation is available on the International Group website here.
