{"id":3360,"date":"2025-11-20T09:00:01","date_gmt":"2025-11-20T10:00:01","guid":{"rendered":"http:\/\/www.xinetica.com\/?p=3360"},"modified":"2025-11-20T14:38:48","modified_gmt":"2025-11-20T14:38:48","slug":"london-pi-club-delivers-strong-h125-results-targets-6-average-rates-increase-for-2026-27","status":"publish","type":"post","link":"http:\/\/www.xinetica.com\/index.php\/2025\/11\/20\/london-pi-club-delivers-strong-h125-results-targets-6-average-rates-increase-for-2026-27\/","title":{"rendered":"London P&I Club delivers strong H1\u201925 results, targets 6% average rates increase for 2026\/27"},"content":{"rendered":"

The London P&I Club, a provider of protection and indemnity (P&I) insurance for global shipowners, has reported positive financial results for the first half of the financial year.<\/p>\n

\"\"Premium revenues saw an increase during this period, a result of both rating discipline and volume growth.<\/p>\n

The club projects 9% tonnage growth for the current financial year, with most of this growth being organic as members expand their fleets.<\/p>\n

Additionally, during H1 2025, the Club\u2019s free reserves have increased to US$180 million and its regulatory solvency ratio rose to 200% at the half-year mark.<\/p>\n

Mutual P&I retained claims above US$1 million and total cost of claims by Clubs on the International Group of P&I Club\u2019s Pool Agreement were marginally ahead of projections, resulting in a modest underwriting deficit for the first half of 2025\/26.<\/p>\n

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\"Ascot<\/a><\/div>\n<\/div>\n

However, this has been offset by a 4.5% return on investments and cash for the period, which has increased to 7% after eight months.<\/p>\n

The London Club anticipates its three-year average combined ratio will fall below 100%, provided the current positive trend in retained claims experience -which has been in line with expectations – from early months of the second half.<\/p>\n

Looking forward to the 2026\/27 financial year, the London Club is not setting a general increase in premium levels for P&I and FDD cover for the period, with renewal terms based on individual Member loss records and risk profiles.<\/p>\n

To offset the increasing costs associated with the Club\u2019s clams and those within the Pool, the London Club has established a target increase of 6% in average rates.<\/p>\n

This includes a mandatory minimum increase of US$2,000 for all deductibles currently below US$20,000.<\/p>\n

James Bean, Chief Executive of the London P&I Club, said: \u201cOur half year performance shows that our long-term strategy of strengthening the club\u2019s finances by gradually increasing our market share on sustainable rates remains on track.<\/p>\n

\u201cIn this respect, it is pleasing to see the club\u2019s tonnage is now almost back to the high-water mark seen in 2021\/22, albeit on materially stronger rates.\u201d<\/p>\n

\u201cGiven the many geopolitical and economic challenges faced by our Members, the London Club remains committed to providing the very best level of personal service globally. At the same time, we remain mindful of the impact of high severity claims on the Club and the pool, and the importance of maintaining underwriting discipline and rate adequacy for the long-term stability of the Club,\u201d he added.<\/p>\n

The post London P&I Club delivers strong H1\u201925 results, targets 6% average rates increase for 2026\/27<\/a> appeared first on ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The London P&I Club, a provider of protection and indemnity (P&I) insurance for global shipowners, has reported positive financial results […]<\/p>\n","protected":false},"author":1,"featured_media":399,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[14],"tags":[],"_links":{"self":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3360"}],"collection":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/comments?post=3360"}],"version-history":[{"count":3,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3360\/revisions"}],"predecessor-version":[{"id":3363,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/posts\/3360\/revisions\/3363"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media\/399"}],"wp:attachment":[{"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/media?parent=3360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/categories?post=3360"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.xinetica.com\/index.php\/wp-json\/wp\/v2\/tags?post=3360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}