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Uk War Risks Club News

27 Apr 2014

‘Excellent’ rating for UK War Risks

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. 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. 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.

12 Apr 2013

U.K. War Risks Club Awarded Excellent Financial Rating

The United Kingdom Mutual War Risks Association Limited (U.K. War Risks Club) is pleased to announce that it has been awarded an A- "excellent" financial strength rating with a "stable" outlook from AM Best, the insurance rating and information source. AM Best’s rating reflects the U.K. War Risks Club’s “excellent risk adjusted capitalisation,” “good operating performance” and “good business profile.”  Although the rating agency expects performance to remain volatile, reflecting the inherent nature of war risks insurance, the U.K. Despite the volatility of this sector, the U.K. War Risks Club has reported a post-tax surplus in four of the last five years.

23 Jan 2009

UK War Risks Club Sets New Rates

The UK War Risks Club will return 10 percent of the net Advance Contribution paid by members for the 2008 policy year to all who renew for 2009. The directors’ decision reflects the projected operating result for the 2008 policy year which ends on February 20th. The return will be credited against the contribution required for the next policy year. Andrew Ward, Director of Underwriting at UK War Risks, said: "I am pleased to announce that the Club is able to make a return of call despite the challenging investment markets in 2008. The worldwide trading rate for passenger and cruise ships will be 0.0363 percent. Other ships will be subject to a worldwide rate of 0.0102 per cent and a restricted trading rate of 0.0051 per cent.