This Solvency and Financial Condition Report (“SFCR”) covers the Business and Performance of The United Kingdom Mutual Steam Ship Assurance Association (Europe) Limited (“UKE”) and The United Kingdom Mutual Assurance Association (Bermuda) Limited (“UKB”), which together are known as “the Group”.

2019 marked the 150th anniversary of the Club, an outstanding achievement which demonstrates the importance of the mutual model to the shipping industry. 

This document is the first Solvency and Financial Condition Report (“SFCR”) of UK P&I Club N.V. (UKNV). It explains the company performance over the extended book year of 28 November 2018 until 20 February 2020. This document covers UKNV’s business and performance, its system of governance, risk profile, valuation for solvency purposes and capital management.

The most frequently asked questions are answered from the UK Club's recent webinar on the technical and legal aspects of fuel quality claims.

The Club’s financial position remains strong as free reserves grew by $54 million to $559 million as at 20 February 2020.

An aid to risk identification and loss reduction in third party property claims.

An aid to risk identification and loss reduction in cargo claims for crude, product, chemical and gas tankers.

An aid to risk identification and loss reduction.

This circular is an update on the Democratic People’s Republic of Korea (DPRK) sanctions enforcement
circular that we published in 2019. It has been updated following the recently published 2019/2020 UN
Panel of Experts of North Korea Sanctions Report (see Report).

An aid to risk identification and loss reduction.

An aid to risk identification and loss reduction.

A properly laid up ship reduces P&I risks and after lay up the Club will return a portion of Calls to reflect the reduced risk.