November 2021 / International Group Clubs - 2022 / 23 P&I - FDD Renewals - London Club - Part 5
Dear All,
Please find attached renewal strategy circular by the London Club who is, rather than seeking a general increase, looking to achieve an overall increase of 12.5% for P&I and FDD mutual entries with focus on members’ individual loss records.
As usual once the group reinsurance contract is renewed, the difference compared to the previous year (whether up or down) will be reflected on the members’ agreed renewal premium unless specified otherwise.
Below you can find our comparison table of Group Clubs.
|
2022 / 23 |
P&I |
NOTES |
|
American |
||
|
Britannia |
+12.5% |
Minimum cargo deductibles to $6K crew; $18,5K cargo and $12,5K all others |
|
Gard |
||
|
Japan |
||
|
London P&I |
+12.5% |
Rates and deductibles to be adjusted acc. to the risk assessment of members. |
|
North.O.E. |
||
|
Shipowners |
||
|
Skuld |
+10% |
No change to deductibles |
|
Standard UK |
||
|
Standard Ireland (London Class) |
||
|
Steamship |
+12.5% |
10% increase for which are usd 100,000 or less. |
|
Swedish |
||
|
U.K. |
+12.5% |
No change to deductibles |
|
West.O.E. |
+15% |
Plus 15% on deductibles with a minim of $2,500 applying. |
|
2022 / 23 |
FDD |
NOTES |
|
American |
||
|
Britannia |
+15% |
No change to deductibles |
|
Gard |
||
|
Japan |
||
|
London P&I |
+12.5% |
Rates and deductibles to be adjusted acc. to the risk assessment of members. |
|
North.O.E. |
||
|
Shipowners' |
||
|
Skuld |
+10+ |
No change to deductibles |
|
Standard UK |
||
|
Standard Ireland (London Class) |
||
|
Steamship |
+12.5% |
No change to deductibles |
|
Swedish |
||
|
U.K Defence |
||
|
West.O.E. |
+15% |
No change to deductibles |
 London P&I 2022 | [ ] | 177 kB |