The Board of The Swedish Club met in Hamburg December 6th to discuss the P&I and FD&D policy year 2006/07.

The current P&I year has developed as predicted. New legislation imposed on shipowners will increase the exposure on the P&I cover. The Board decided on a general increase of 10% to be levied on the current estimated total call prior to imposing any increases for records. With the increase the Club predicts that the supplementary call will be 0% and members will be debited the estimated total call.

The Club has adhered to this strategy since 1992 without any supplementary calls levied in order for the members to facilitate to budget their costs.

The cost for reinsurance for 2006/07 is not yet decided therefore any such change in reinsurance costs have to be adjusted when known.

The FD&D class has shown a similar pattern as the P&I and due to increase in costs the Board decided on a 10% general increase. This increase will be levied on the current estimated total call prior to any increase for records. The supplementary call is estimated to 0% and members will be thereby debited an estimated total call.

As for 2005/06 the overall limit on FD&D is 5 million USD and all entries are mutual.

For further information, please contact The Swedish Club
Claes Lindh, Director Underwriting, Tel: +46 31 638 400
E-mail: claes.lindh@swedishclub.com