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

People & Company News

Kleven Shipbuilding Wins IES Pioneer Contract

Norway’s Kleven announced it has signed a shipbuilding contract with Malaysian based joint venture company IES Pioneer Ltd. The vessel is of Norwegian design

Sunken WW II Ship Oil Leak Plugged

Atlantic Coast Marine Group, Inc. successfully responds to World War II era motor tanker leaking massive cargo of oil into the Atlantic Ocean's waters. Beaufort,

New ICTF Boosts Crowley’s Efficiency

The opening of Florida East Coast Railway’s (FEC) new, state-of-the-art intermodal container transfer facility (ICTF) adjacent to Crowley Maritime Corporation’s Port Everglades, Fla.

Finance

Suicide Attack Escalates Libya Violence, Oil Output Slips

Crude output slips for first time since port deal; fresh clashes in Tripoli and Benghazi. Brega oil port seen open in few days. A twin suicide bombing at a Libyan

Pier Damaged at Port Canaveral

Undergoing Repairs While Coast Guard Investigates   The U.S. Coast Guard is investigating a weekend incident that caused pier damage and scattered concrete debris in the harbor on Sunday.

APM Terminals to Sell Container Terminal in Virginia

Port operator APM Terminals, a unit of Denmark's A.P. Moller-Maersk, said it would sell a big U.S. container terminal to infrastructure investor Alinda Capital

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
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: 0.1247 sec (8 req/sec)