P&I Circulars

P&I Circulars

Göteborg: 20 December 2016
2621/2016

Protection & Indemnity Insurance 2017/2018

  • The Club’s overall claims frequency seem to have increased during the past 2 years, as per graph below, but as the year’s mature frequency normally comes down. Average claim costs remains stable
  • The long-term trend of costlier large claims for the International Group does not seem to continue as 2014 and 2016, however, 2015 has deteriorated significantly
  • Underlying estimated claims inflation runs just below 2 % per annum
  • International Group excess reinsurance negotiations have been concluded and a small reduction has been achieved
  • We are expected to come in just above the Club’s targeted combined ratio of 100 % for P&I for 2016/2017 as and we budget for a balanced result for policy year 2017/2018
  • Growth rate is above expectation and GT is now standing at 47.6 million with an additional 22.2 million GT of charterers’ entries
  • A general increase of 0 % has been decided by the Board, in addition to changes in Group reinsurance costs

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Protection & Indemnity Insurance 2017/2018

P&I Lay-up return application

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
For Claims and Underwriting, please see our Office contacts

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GOTHENBURG: +46 31 151 328
Piraeus: +30 6944 530 856
Oslo: +46 31 151 328
London: +46 31 151 328
Hong Kong: +852 2598 6464
Singapore: +852 2598 6464


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