Dear All,

The 2022 renewal season of the International Group Clubs have just started with 2 very recent circulars from two of their members being the London Club and the West of England.

Most of the Clubs are under pressure of increased claims costs, mostly contributed by increased commodity prices, as well as significant pool contributions and ongoing covid-19 related claims.  Double digit rises are expected from most of the Clubs, if not single digits from only a few.  The Group’s excess of loss reinsurance programme for next year has not yet been finalised but increases on that is also expected.  As is practice, the Clubs will reflect this reinsurance cost, up or down, to their members separate from the agreed renewal terms. Some Clubs may prefer to have their renewal terms inclusive of the reinsurance cost and we will specify this if and any.

London Club have not yet announced their renewal strategy but  they advised this Wednesday that their board have decided to ask for supplementary calls for the following years.

2019/2020 %35 suppl call

2020/2021 %30 suppl call

2021/2022 %35 suppl call

West of England as per their attached circular is asking for 15% for their mutual P&I members and same rise on deductibles with a minimum increase of $2,500. The Club makes emphasis as follows:

Below you can find our comparison table of Group Clubs.

 

 

2021 / 22	P&I	NOTES
American
Britannia
Gard
Japan
London P&I
North.O.E.
Shipowners
Skuld
Standard UK
Standard Ireland (London Class)
Steamship
Swedish
U.K.
West.O.E.	+15%	Plus 15% on deductibles with a minim of $2,500 applying.
2021 / 22	FDD	NOTES
American
Britannia
Gard
Japan
London P&I
North.O.E.
Shipowners'
Skuld
Standard UK
Standard Ireland (London Class)
Steamship
Swedish
U.K Defence
West.O.E.	+15%	No change to deductibles