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Charles Hume News

19 Oct 2022

Peacock Set to Take Over as CEO of The Shipowners’ Club

Simon Swallow and Simon Peacock (Photo: The Shipowners’ Club)

The Shipowners’ Club, a P&I insurer in the smaller and specialist vessel sector, announced Simon Peacock will take over as CEO in 2023.Current CEO Simon Swallow will be stepping down on May 25, 2023 before starting his retirement on August 3, 2023. The current Chief Financial Officer (CFO), Simon Peacock, will be the incoming CEO on May 25, 2023. Marcus Tarrant, currently Director and Chief Actuary of the Club’s management company, will become the Club’s CFO.Swallow joined the Shipowners’ Club in July 1991 and after a spell as Underwriter he assumed the role of Director of Underwriting.

14 Oct 2014

Shipowners Club Shares Half Year Results

The Shipowners’ Club has released its half yearly results as at 20th August for the 2014/15 year, and reports a strong underwriting performance with a significant increase in free reserves over the same period last year. The decision to withdraw from the Pacific North West fishing sector, taken last year, has resulted in a loss of premium income but is expected to have a positive effect on the underwriting result. Despite this, gross earned premium is ahead of the 2013 figure at the half year stage, and underlying organic growth remains strong.

31 Oct 2013

Shipowners’ Club Keeps Premium Rise to a Minimum

Despite a continued upward trend in the cost of claims and additional reinsurance costs, The Shipowners’ Club, P&I insurance provider to the smaller and specialist vessel sector, is to raise premiums by just 5% for the 2014/15 renewal. Announcing its half year (2013/14) financial results Shipowners, which minimized its premium rise at the last renewal to a market low of 5%, will keep next year’s increase to a similar small rise. In the P&I Club’s Half-year Report, issued yesterday, Chief Executive Charles Hume stated, “We appreciate that any increase is unwelcome and we recognize that it is necessary to achieve a balance between ensuring the long-term financial security of the Club and recognizing the financial challenges faced by many Members in the current economic climate.

07 Nov 2012

Shipowners’ P&I Club Receives A –

The Shipowners’ Club, major P&I insurer in the smaller and specialist vessel sector, has announced its first interactive ratings assigned by two leading credit agencies. S&P has confirmed the mutual’s rating as 'A –' with an outlook of Stable. To underpin its future business plan and development objectives, the Club’s board decided earlier in the year to apply for an inter-active assessment from both agencies. Standard & Poor’s Ratings Services (S&P) assigned the Club its 'A -' long-term counterparty credit and insurer financial strength rating. The outlook for this rating is Stable. A.M.Best have assigned a financial strength rating to Shipowners of A – (Excellent). The outlook was also confirmed as Stable.

12 Oct 2012

The Shipowners' Club Pegs Premium Rise

A developing trend in the number and quantum of higher value claims has led the smaller tonnage specialist the Shipowners’ Club to announce a general increase in premiums of 5% from 20th February 2013. In its half-yearly report published today, Shipowners highlights the continuing growth in the Club. This is a reflection of fleet growth and the purchase of extended cover by existing Members, and the addition of new Members throughout the six month period. Despite there being no general increase for the current year, earned premiums for the period are up by 4.4% compared with 2011 and entered tonnage is up by a similar percentage (4.3%).

19 Oct 2011

Shipowner's Club Appoints Heaselden Director

The Shipowners’ Club, the mutual P&I insurer specialising in small and specialist vessels has appointed David Heaselden to the new post of Loss Prevention Director, with immediate effect. The post, which is an appointment to the Shipowners’ Protection Limited Board reflects the importance Shipowners’ Club accords to loss prevention advice provided to its Members. Announcing the appointment Charles Hume, Chief Executive commented, “David’s outstanding cross-branch leadership of loss prevention is recognised by his appointment…

22 Aug 2011

Insurer Targets Growth in Offshore Sector

The Shipowners’ Club recently announced measures to reorganise its London branch. This included the setting up of two internal syndicates, bringing together both underwriters and claims handlers specialising in specific geographical regions; a third syndicate will focus on the offshore sector. Providing liability insurance to the vast array of offshore and platform support vessels, from anchor handlers, tugs and workboats to the fast crew boats employed in the energy industry, already forms a prominent part of the Club’s portfolio. Shipowners plans to develop its reach to owners and brokers of this vessel type even further. Charles Hume…

08 Jul 2011

Shipowners’ Club Registers Strong 2010 Results

Excellent financial results have been reported by the Shipowners’ Club for the trading year ending February 2011. Positive growth or improvements across almost all parameters have been recorded, from increased tonnage and numbers of vessels entered, to an up-lift on gross earned premiums to US$196.8 million (up 13% on last year) and an underwriting surplus of US$25.2 million. Chairman of the Club, Donald MacLeod puts the recent success of the Club down to the diversity of its Members and the results of organisational changes over the last two years that are now coming to fruition. “Our strong performance coincides with the culmination of a period of change for the Club.

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