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Göteborg: 22 August 2017

The Swedish Club secures further solvency strength

The Swedish Club returned a solid performance in the first six months of the accounting year, following the release today of its half year results. Despite its decision to offer a discount of 4 % to all P&I members 2017/2018, the Club delivered an operating surplus of USD 19.0 million for the period in question.

Free reserves are now at a top level of USD 213.8 million, reinforcing the Club’s commitment to meet members’ needs while also allowing for further growth of the business. The combined ratio of 94 % continues to show a stable performance, below 100 % on an eight-year average. 

Lars Rhodin, Managing Director of The Swedish Club, said: “Our growth remains firmly in line with our agreed plans and has exceeded 70 million GT combined owners’ and charterers’ P&I entries.”

He added: “This year is a special year for the Club with the celebration of its 145 years in the marine insurance business. The Asian market remains one of our key markets and we are also very proud to celebrate 35 years in Hong Kong this year.”

At the 145th Annual General Meeting in June, the Club had the honour of welcoming three new Board members; Mr. Chen Wei from Cosco Shipping Lines, Shanghai; Mr. Jude Correa from Seaspan Ship Management, Vancouver; and Mr. Lu Jian from Winning Shipping in Singapore.

Click here to download the press release»

Half year report 2017  

TSC Half Year Report 2017 WEB version.pdf

For further information please contact Elaborate Communications Ltd.

Debra Massey
+44 (0) 1296 682356 

Notes to Editors:

The Swedish Club was founded by shipowners in 1872 and is today a leading and diversified mutual marine insurance company, owned and controlled by its members. The Club writes Protection & Indemnity, Freight, Demurrage & Defence, Hull & Machinery, Hull Interests, Loss of Hire, War Risks, and any additional insurances required by shipowners or charterers. It also writes Hull & Machinery, War risks and Loss of Hire for Mobile Offshore Units and FPSOs.

Its head office is located in Gothenburg, Sweden, with branch offices in Piraeus, Hong Kong, Tokyo, Oslo and London.

Visiting address

The Swedish Club
Gullbergs Strandgata 6
SE-411 04 Gothenburg
Sweden


Postal address

The Swedish Club
Gullbergs Strandgata 6
P.O Box 171
SE-401 22 Gothenburg
Sweden

Phone/Fax/E-mail

Tel +46 31 638 400
Fax +46 31 156 711
E-mail swedish.club@swedishclub.com

Emergency

GOTHENBURG:
+46 31 151 328

Piraeus:
+30 6944 530 856

Hong Kong:
+852 2598 6464

Tokyo:
+81 44 222 0082

Oslo:
+46 31 151 328

The Swedish Club is a member of: