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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter February 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

IBIA Celebrates 23th Annual Dinner

Association appoints new board members and sets priorities for the future   The International Bunker Industry Association (IBIA) has appointed three new members

OSV Delivered to MC2 in Dubai

Marine Core & Charter LLC (MC2) headquartered in Dubai has taken delivery of the new build PETRA-1, the first of two, 45-meter Fast Offshore Support Vessels in

Baltic Index Pauses at Record Low

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, ended flat on Thursday after declining for 12 straight sessions

Insurance

Grounded Giant Chinese Boxship Freed

One of the world's largest container ships has been freed from a mud bank after running aground almost a week ago near Germany's largest port of Hamburg, German authorities said on Tuesday.

Three Dead on Pemex Platform, Fire Under Control

Three workers were killed and at least seven injured when a fire broke out on a Pemex oil processing platform in the Gulf of Mexico, but the latest in a string of incidents is now under control,

Glencore to Lift Iranian Fuel Oil at Bandar Mahshahr

Anglo-Swiss commodity trader Glencore has chartered a ship to load Iranian fuel oil at the Iranian port of Bandar Mahshahr in a move that signals the return of

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | 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: 0.1109 sec (9 req/sec)