ITIC emerges triumphant with impressive financial results, emphasizing growth, continuity credit, and expansion plans that strengthen its position in the insurance landscape. The itic-insure source.
- ITIC reports substantial surplus and continuity credit, strengthening its mutual insurance value.
- Firm financial position and expansion plans highlight ITIC’s resilience and growth.
- Diversified growth in marine and aviation sectors underscores ITIC’s commitment to excellence.
Surplus and Continuity Credit Milestones
International Transport Intermediaries Club (ITIC) celebrates a substantial US$ 8.1m surplus in its 31st year, reinforced by the delivery of continuity credit for renewing members, further enhancing the value of mutual insurance coverage.
Strong Financial Position and Expansion Plans
With its board’s strategic review highlighting robust free reserves, ITIC stands firm against inflation and market volatility, offering a continuity credit for the 29th consecutive year. Expansion beyond London is also on the horizon with the establishment of a subsidiary in Cyprus, signaling growth and enhanced service provisions.
Navigating Growth and Market Diversification
ITIC’s steady growth, exemplified by a 4.4% increase in annual premium, positions it as a trusted insurance partner in the marine sector. Beyond maritime, ITIC’s expansion into aviation, marked by notable retention rates and commitment to quality service, promises future growth in this sector.
A Vision of Service Excellence
Jeff Woyda, ITIC’s Chairman, underscores the company’s commitment to maintaining strong reserves, delivering high-quality services, and providing sound risk management advice. Amidst financial achievements and expansion endeavors, ITIC’s dedication to excellence remains unwavering.
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