More Shipowners Commit to UK Club in Tough Market

Press Release
Wednesday, February 27, 2013

The UK P&I Club (the UK Club) has attracted over three million gross tons of new tonnage, following the closure of the renewal season.

 At conclusion of renewal the Club’s tonnage stands at around 120 million gross tons.  This represents net growth over the past year of 7.6 million tons.  As importantly, the Club maintained its policy on sound underwriting declining an equivalent volume of tonnage during the renewal on factors such as quality of risk.

Hugo Wynn-Williams, Chief Executive of Thomas Miller P&I, the UK P&I Club’s managers, says: “It has been a good and solid renewal fore the UK Club marked by continued controlled growth for the second year in succession.”

“Gross tonnage has increased and we are pleased that our financial stability, claims management and service have attracted more tonnage from existing Members and new business to the Club.”

“As ship-owners face extremely challenging conditions, the Club’s strong capital position enabled a 2.5 per cent mutual premium discount on the 2011 policy year. The discount amounted to a 10 per cent deduction for all mutual members for the final instalment of the 2011 call due in December last year.
“The continuing commitment of the membership and the support of the insurance broking community is greatly appreciated by the UK Club and its Board especially considering the significant increase in the cost of the International Group reinsurance premium which accompanied the general increase for 2013.”

UK Defence Club
UK Defence Club (UKDC), the largest defence club in the world, which celebrates its 125th anniversary this year, also reported a strong 2013 renewal with significant gains in entered ships.

Daniel Evans, Club Manager at Thomas Miller Defence said: “Ship owners and operators continue to recognise the importance of legal costs insurance and increasingly see the benefits of insuring with an independent club able to leverage its financial strength for their benefit.”
 

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

People & Company News

Hapag-Lloyd, CSAV Merger Finalized

Hapag-Lloyd and CSAV binding agreement signed / In return for contributing its container business, CSAV becomes new core shareholder of Hapag-Lloyd / Hapag-Lloyd

MAS Debuts Exclusive Armor Systems

Following on from the continued success of the product, Marine Armor System (MAS) announced its global launch and updated website. MAS is a nonlethal vessel

All Items Approved at Stolt-Nielsen Meeting

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda.

P&I Clubs

South Korean Ferry Incident Update

Almost 100 ships, 18 helicopters involved in rescue; as many as 340 people from one school thought to be on board. Accident may be South Korea's biggest in 20 years.

Ultra Deepwater Rig Towed 11,500 Miles

Fairmount Marine towed Sevan Louisiana to Curaçao Tug Fairmount Sherpa towed rig Sevan Louisiana safely from Singapore to Curaçao. During the 11,500 miles voyage via Cape of Good Hope,

Fit for Sea Medical Program Tests 300,000th Applicant

The UK P&I Club informs that its Pre-Employment Medical Examination Programme, claimed to be the world’s leading scheme for assessing the fitness of prospective seafarers,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Naval Architecture Offshore Oil Pod Propulsion Port Authority 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: 0.1338 sec (7 req/sec)