U.K. War Risks Club Awarded Excellent Financial Rating

MarineLink.com
Friday, April 12, 2013

The United Kingdom Mutual War Risks Association Limited (U.K. War Risks Club) is pleased to announce that it has been awarded an A- "excellent" financial strength rating with a "stable" outlook from AM Best, the insurance rating and information source.

AM Best’s rating reflects the U.K. War Risks Club’s “excellent risk adjusted capitalisation,” “good operating performance” and “good business profile.”  Although the rating agency expects performance to remain volatile, reflecting the inherent nature of war risks insurance, the U.K. War Risks Club is “sufficiently strong to withstand future earnings volatility.”

Despite the volatility of this sector, the U.K. War Risks Club has reported a post-tax surplus in four of the last five years.  It has combined an average annual return of premium to members of 11% with an increase in free reserves to $31.3 million (USD) at financial year-end in February 2013.

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Decade Old India Shipping Summit Makes History

In ten years, India Shipping Summit held consistently in Mumbai, has sailed on a robust growth course despite the worldwide witnessing recessionary waves buffeting any endeavors to grow and gain.

Liebherr to Deliver RTGs to Mayotte and Manila

Liebherr confirms orders for variable speed RTGs and electric RTGs. DPWorld Asian Terminals Inc. has placed an order with Liebherr Container Cranes for a further 5 RTGs at its Manila facility.

U.S. Navy Contracts 12 Rapid Response Skimmers

Kvichak Marine won a US Navy contract for 12 30-ft.Rapid Response Skimmers (RRS) for delivery over the next 18 months, with options for up to 30 additional skimmers to be delivered through 2019.

 
 
Maritime Contracts Maritime Security Offshore Oil Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1228 sec (8 req/sec)