The Swedish Club maintains its members’ interest at the heart of the business and has made the decision to offer a discount of 4%, to all P&I members 2017/2018.
“We respect our shipowners and the challenges they face,” said Lars Rhodin, Managing Director of The Swedish Club. “This discount, on our 145th anniversary, has been made possible through a long-term risk management strategy which has also enabled us to set a 0% General Increase for two years in a row.”
The Club’s end year results demonstrated a 7.5% year-on-year growth in P&I, from both existing and new members, well ahead of the growth in the world fleet. Marine business was stable in a challenging market and despite volatility in the investment sector, an overall surplus of USD 11.8 million was reported.
Maintaining its focus on a balanced underwriting performance, The Swedish Club delivered a combined ratio of 98%, in line with its eight-year performance of 97%.
The Club will continue to strengthen its market position by reinforcing its Piraeus office with new legal and claims expertise; continued growth in Asia; proactive loss prevention initiatives, such as the rollout of its successful Emergency Response Training; and further support for the acclaimed Maritime Resource Management (MRM) programme from The Swedish Club Academy.
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