Autumn Statement 2017
30/10/2017
2017 half-year financial results published. A solid performance from the Club at the half year.
REVIEW OF OPEN POLICY YEARS AND 2018 POLICY YEAR GENERAL INCREASE
Directors' Report & Financial Statements for the year ended 20th February 2017.
Standard & Poor's ("S&P") today affirmed the Club's A (stable) rating after completing its full annual review of the Club. The S&P review considers a wide range of factors including the Club's capital adequacy, industry and competitive position, risk profile and, importantly, risk management. This S&P rating therefore provides a much wider view of the Club's financial health than the more generic measures such as free reserves per ton.
Review of the year 2017
12/05/2017
The Review of the year 2017 details the Club's financials and claims experience. 2016 has been another strong year for the Club. Despite a small number of large claims notified to the Club towards the end of the year, a decent underwriting result and strong performance within the investment markets have enabled the Club to record a surplus for the ninth year in a row.
Press release: A year of progress
12/05/2017
The UK P&I Club ("The UK Club"), announces its renewal results for 2017
UK Defence Club- Renewal brochure
15/02/2017
Read the 2017 addition of the UK Defence Club's renewal brochure here:
UK Defence- Competitor Analysis
15/02/2017
UK Defence Club's latest competitor analysis chart is now available in publication form
At their meeting on 30th January 2017, the Directors reviewed the basis on which special war risks P&I cover could be made available to Members in accordance with the proviso to Rule 5E, and determined that this cover should be made available to Members for the 2017 policy year in accordance with the terms of the attached Directors' Resolution of 30th January 2017.
2017 Reinsurance rates announced
14/12/2016
The International Group today announced that it had concluded terms for 2017 in respect of the excess of loss reinsurance.
Circular 20/16: 2017 POLICY YEAR
13/12/2016
For the 2017 policy year, the Club retention will remain $10 million. The Group Pooling retention will remain unchanged at $80 million and continues to be insured by the Group captive, Hydra, and pre-funded by a premium contribution from each club. This premium is included in the reinsurance rates.
The UK P&I Club ('the Club'), one of the leading providers of protection and indemnity insurance, agreed at its Board meeting on 19th November to a Mutual Premium Discount of 3 per cent on the total mutual call for the 2015 policy year.
Circular 18/16: General Meeting Reports
21/11/2016
Circular 18/16 is a Report of the AGM proceedings and resolutions adopted. New Directors elected to the Board and Proposed changes to the Club's governance structure was approved by the Members.
Mutual Premium Discount of 3 per cent on the total mutual premium for the 2015 policy year. Standard deductible will be $12,000 per event for the 2017 policy year. Any change in the cost of the International Group reinsurance will be passed on to the mutual Members. An explanation of the financial background to the Board's decisions can be found in the "Autumn Review 2016" which accompanies this Circular.
2016 Autumn Statement
21/11/2016
The Club's performance over the first six months of the year has been extremely strong. After six months of the year, total notified claims on the prudently reserved 2016 policy year are encouraging with few large claims within the Club or Pool retentions. Claims on prior policy years have also developed favourably. Full details of the Club's half year financials are available in the attached '2016 Autumn Review'.
Review of the Year 2016
09/05/2016
2015 has been another strong year for the Club. The importance of consistent disciplined underwriting was evident in a year of volatility in the investment markets. The combined ratio for the financial year was 92%, better than the Club's target of 100%. Full details are available in the Club's 2016 Review of the Year.
2015 Review of the Year published
11/05/2015
2014 has been a year of significant progress for the Club. A commitment to disciplined underwriting has delivered a combined ratio for the financial year of 104%, the fifth consecutive year that the Club has performed at or close to its target of 100%. The 2015 Review of the Year is available to download.
2015 Review of the year
30/04/2015
2014 Review of the Year
12/05/2014