Shipowners commit to UK Club in encouraging renewal
The UK P&I Club ("The UK Club"), one of the leading shipping protection and indemnity mutual insurers, today announces its renewal results for 2019.
The Club had a good renewal achieving growth by attracting quality tonnage. The Club's mutual owned tonnage now stands at over 144 million gross tons, a net increase of 5.4 million gross tons of mutual business over the year.
- Mutual tonnage at the start of the new policy year is 144.3 million gt
- A further 3.3 million gt committed to the Club, at agreed rates, as part of renewal negotiations
- 99% of the existing entered ships renewed
- Chartered tonnage remains around 100 million gt
Andrew Taylor, Chief Executive of Thomas Miller P&I, says:
"The UK Club and its Board greatly appreciates the continuing commitment of the membership and the support of the insurance broking community during the 2019 renewal. We are pleased that the Club's high standards of service and commitment to quality attracted more tonnage from existing Members and new business to the UK Club."