P&I: UK Club Increases 2014 Renewal Rate 10%

MarineLink.com
Thursday, October 31, 2013
UK Club logo

The UK Club Board has decided on a general increase for 2014 renewal of 10 per cent. This across the board premium rating increase is in addition to any increase in the cost of the International Group reinsurance.

Overall, the Club’s financial position remains strong with the free reserves and capital standing at US$473 million and total assets of US$1.6 billion as at 20 August 2013. Since these figures were recorded at the half year, the position has improved with investment income increasing from $6 million to $33 million.

The UK Club confirms that its Standard and Poor’s rating is A- (Strong) Outlook: Positive.

In addition, seven new Directors have joined the UK Club Board
   
•    Sheikh Talal Al-Khalid Al Sabah of Kuwait Oil Tanker Company;
    •    Ms Angela Chao of Foremost Group, New York;
    •    Michael Fostiropoulos of Almi Tankers, Athens;
    •    Polys Hajioannou of Safe Bulkers, Athens;
    •    Edouard Louis-Dreyfus of Louis Dreyfus Armateurs, Paris;
    •    Paul Wogan of Gaslog, Monaco;
    •    Riad Zein of Naftomar Shipping & Trading, Athens

The Club Board also confirmed that the announcement of its financial position at the half year will be published in the Club’s 'October Review 2013'.

 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Holland America Line Wins Cruise Critic Cruisers’ Choice Awards

Holland America Line won top honors in four categories in the 2015 Cruise Critic Cruisers’ Choice Awards. The premium cruise line took first place in Best Dining

ST Engineering Y-O-Y Profits Slip

Singapore Technologies Engineering Ltd  reported today its full year financial results ended 31 December 2014 (FY2014) with a Group revenue of $6.54b compared to $6.

Sulphur Enforcement Begins in Denmark

For the first time all 16 SECA countries met for the Danish Maritime Authority’s workshop on sulphur regulation enforcement. The leaving participants’ suitcases

Finance

ST Engineering Y-O-Y Profits Slip

Singapore Technologies Engineering Ltd  reported today its full year financial results ended 31 December 2014 (FY2014) with a Group revenue of $6.54b compared to $6.

Dryships in the Red

DryShips Inc. and through its majority owned subsidiary, Ocean Rig UDW Inc., of offshore deepwater drilling services, today announced its unaudited financial and

USCG Foundation Announces Scholarships

The Coast Guard Foundation, a non-profit organization committed to the education and welfare of Coast Guard members and their families, announced today that

P&I Clubs

Top Five Most Costly Insurance Claims

The TT Club has alerted the supply chain industry to a persistence of claims in a handful of loss types. The international transport, freight and logistics insurance

BWMC's Entry Into Force Imminent

Jacqueline Tan, Senior Claims Executive at the UK P&I Club, commented on the ballast water management controls coming into force:  “The coming into force of the

Bangladesh Ferry Capsizes after Collision, 33 Dead

At least 33 people died in Bangladesh on Sunday when a passenger ferry capsized after colliding with a trawler on the river Padma with more than 100 people aboard, police said.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Repair Shipbuilding / Vessel Construction Winch
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: 0.1490 sec (7 req/sec)