Press release: Another extremely positive renewal season at UK P&I Club
London, 22nd February 2016The UK P&I Club ("The UK Club"), one of the leading shipping protection and indemnity mutual insurers, announces its renewal results for 2016 following the closure of the renewal season on 20 February 2016:
- At this renewal the Club experienced a net gain of 4 million entered tonnes
- A year-on-year net increase of 8.5 million entered tonnes of mutual business takes mutual-owned tonnage to approximately 135 million tonnes, an increase of approximately 6.5%
- Combined mutual-owned and chartered tonnage now stands at more than 225 million gross tonnes.
Hugo Wynn-Williams, Chief Executive of Thomas Miller P&I, the UK P&I Club's managers, says: "I am pleased to be able to report that we have achieved a fifth consecutive year of growth, while maintaining our disciplined approach to underwriting. Interest in the Club has been very strong this year, based on its high standards of service and commitment to quality."
Roland Cross / Gareth David / Carolyn Monchouguy
Tel: +44 (0) 20 3697 4200
Notes to Editors
The UK P&I Club is a leading provider of P&I insurance and other services to the international shipping community. Established in 1865 the UK P&I Club insures over 225 million tonnes of owned and chartered shipping through its international offices and claims network. 'A (Stable)' rated by Standard & Poor's with free reserves and hybrid capital of $559m the UK P&I Club is renowned for its specialist skills and expertise which ensure 'best in class' underwriting, claims handling and loss prevention services.
The UK P&I Club is managed by Thomas Miller, an independent and international insurance, professional and investment services provider.
Thomas Miller is an independent and international provider of insurance, professional and investment services.
Founded in 1885, Thomas Miller's origins are in the provision of management services to mutual organisations, particularly in the international transport and professional indemnity sectors; where today they manage a large percentage of the foremost insurance mutuals. Thomas Miller also manages insurance facilities for all the self-employed barristers in England & Wales, as well as trustees of pension schemes, patent agents and housing associations.
Principal activities include:
- Management services for transport and professional indemnity insurance mutuals
- Investment and wealth management for institutions and private clients
- Professional services
- Building defects insurance