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 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

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

Maersk to Scrap Ships at India's Alang Beaches, NGO Dismayed

Maersk Line said on Friday it had chosen four shipbreaking yards along India's Alang beaches to handle an increase in vessels that need to be scrapped, to the dismay

Teknotherm Marine Moves HVAC Arm to Bergen

Maritime heating, ventilation and air conditioning (HVAC) firm Teknotherm Marine has established a new subsidiary is established with the name Teknotherm Marine HVAC AS.

Finance

Brazil's CEEE to sell stakes in Wind Farms, Dams

Brazil's Companhia Estadual de Energia Elétrica (CEEE), a power utility controlled by the state of Rio Grande do Sul, will sell assets including stakes in wind farms,

DP World Bolsters Investment in India

DP World Pvt. Ltd, the world’s fourth biggest container port operator majority owned by the Dubai government, has plans to invest over $1 billion in India for augmenting its port-related operations.

SunEdison Restrained from 'Unusual' Asset Transfers

Solar company SunEdison Inc said a U.S. court has restrained the company from making any unusual asset transfers until a hearing in a lawsuit brought on by investors

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Pod Propulsion Ship Electronics Ship Repair Ship Simulators 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: 4.6036 sec (0 req/sec)