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Uk Club Board News

27 Oct 2015

UK P&I Club Sets 2.5% General Increase

The UK P&I Club, a provider of protection and indemnity insurance,  agreed at its board meeting Monday that the General Increase for the 2016 renewal will be 2.5 percent. In announcing the increase, the UK Club board said it is mindful of the continuing stress in certain sectors of the shipping market and has therefore set the General Increase for 2016 below the level of claims inflation, adding the General Increase reflects the club’s commitment to maintain balanced underwriting and put the club in the best position to meet the challenges of the future. Separately, in recognizing the challenges faced by its members and the club’s capital position, the board has declared a Mutual Premium Discount of 2.5 percent on the total mutual call for the 2014 policy year.

29 Oct 2014

UK P&I Club: 6.5% General Increase for 2015

The UK P&I Club board has agreed at its meeting on October 27, 2014 that the general increase for the 2015 renewal will be 6.5%. The premium rating increase is in addition to any change in the cost of the international group reinsurance premium for 2015 for the mutual members, which will be determined next January. In setting the general increase, the UK Club board said it is mindful of the balance between the needs of the club’s members and its commitment to maintaining balanced underwriting and sound financial planning. The 2013 year has proved to be one of the most expensive claims years of the last two decades, the club said. Alan Olivier…

31 Oct 2013

P&I: UK Club Increases 2014 Renewal Rate 10%

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.

29 Mar 2013

UK Club at Connecticut Expo & CMA Commodore Award

UK P&I Club Stand: Photo credit UK Club

The UK Club took part recently in the latest Connecticut Maritime Association (CMA) exhibition and conference at Stamford, CT. The UK P&I Club say that their stand at the expo was host to many of their members and friends from the North American maritime community and beyond. Each year the award of CMA Commodore is given to an individual for their contribution to the growth and development of the shipping industry. This year’s recipient was Mr. Peter Evensen, President and Chief Executive Officer (CEO) of Teekay Corporation (Teekay) .