To all Members,
At their meeting in Luxembourg on the 24 May 2018 the Board considered the open policy years and in particular the 2015 policy year, which is now three years old.
The 2015 policy year is currently forecast to produce a modest underwriting surplus. Given this forecast surplus, coupled with the accumulated surplus brought forward the Board agreed that the year can be closed without additional call.
Furthermore, the Board considered the open policy years for 2016, 2017 and the current 2018 year and agreed to maintain a nil additional call estimate.
The Club’s policy of adopting a nil release call for all open years remains.