Shipowners commit to UK Club in encouraging renewal

ukp&i

The UK P&I Club, one of the leading shipping protection and indemnity mutual insurers, announced its renewal results for 2019:

The Club had a good renewal achieving growth by attracting quality tonnage. The Club’s mutual owned tonnage now stands at over 144 million gross tons, a net increase of 5.4 million gross tons of mutual business over the year.

Mutual tonnage at the start of the new policy year is 144.3 million gt
A further 3.3 million gt committed to the Club, at agreed rates, as part of renewal negotiations
99% of the existing entered ships renewed
Chartered tonnage remains around 100 million gt

Andrew Taylor, Chief Executive of Thomas Miller P&I, says:

“The UK Club and its Board greatly appreciates the continuing commitment of the membership and the support of the insurance broking community during the 2019 renewal. We are pleased that the Club’s high standards of service and commitment to quality attracted more tonnage from existing Members and new business to the UK Club.”

Source: UK P&I Club

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