The UK War Risks Club announced the affirmation of its A- ‘Excellent’ financial strength rating with a ‘Stable’ outlook from the insurance rating agency AM Best.
AM Best’s rating reflects the Club’s “excellent risk-adjusted capitalisation, track record of good operating performance and its established business profile as a specialist underwriter of war risk insurance for ships.”
Club Manager Andrew Ward welcomed this confirmation of the Club’s financial rating: “The continuing ‘Excellent’ rating by AM Best re-affirms the UK War Risks Club’s financial strength and stability. Shipowners and their insurance brokers who seek independent and trusted information in a volatile and niche class of insurance will find this assessment encouraging.”
Despite the volatility of this sector, the UK War Risks Club continued its policy of returning premiums to Members at the 2014 renewal, as well as reducing its annual rates to Members. It remains committed to providing high quality cover and service at competitive rates.