London Club Call Performance Confirms Financial Stability

Thursday, May 01, 2003
The London P&I Club has, for more than 10 years, continued to maintain the policy of stable supplementary and release calls. Following a meeting on April 16, the Club Committee confirmed that all calls are to be maintained in line with original estimates.

In the Protection and Indemnity Class, the supplementary and release calls for 2000/2001 and 2001/2002 remain unchanged. For 2002/2003, a supplementary call of 40 percent will be levied in July this year, as originally estimated, and will be payable in two installments on August 20, and October 20, 2003. The release call will remain at 60 percent until the supplementary call has been levied, when it will reduce to 20 percent. The initial supplementary call estimate for 2003/2004 has been confirmed at 40 percent and the release call at 60 percent, as advised to members in November last year.

Meanwhile, in the FD&D Class, the supplementary and release calls for 2000/2001 and 2001/2002 also remain unchanged. For 2002/2003, a supplementary call of 30 percent, as originally estimated, will be levied in July this year, and will be payable on August 20 and October 20, 2003. The release call rate will remain at 50 per cent until the supplementary call has been debited and will then reduce to 20 per cent. The supplementary call estimate for 2003/2004 remains at 30 percent, with the release call continuing at 50 percent, as advised to members in November last year.

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