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Club News

Solid Renewals Performance for The Swedish Club

At its first board meeting of the year, held in Singapore on the 23 March, The Swedish Club reported a solid renewal picture for 2023, focusing on member quality according to plan.

In a turbulent 2022, the Club focused on areas of the business that could be controlled and prioritised, rebalancing the operating performance of the Club. Marine, Energy and FD&D produced a combined ratio below 100%, with Marine notably at 87%, whereas P&I remained above 100%, delivering a total combined ratio of 102%.

The year saw rising interest rates and falling equity values. These negatives were seen in the first six months, after which the Club’s investments were close to break even, and underwriting and return on investment (RoI) were profitable. The year closed with a result of USD -41.7 million.


Thomas Nordberg, Managing Director of The Swedish Club, says: “The economic and geopolitical disruption in 2022 has highlighted the exposure of our industry to the external environment.

“We will continue to keep ahead of events and ensure that we have the necessary skills and organisational structure in place that enables us to act quickly for the benefit of our members.”