The Shipowners’ Club, the leading P&I insurer in the smaller and specialist vessel sector, has reported financial results for the six months ended 30 June 2020.
The Club is delighted to report an improved combined ratio of 102.2% which was in line with budget. Given the volatility of the investment markets in the first half, the Club is pleased to report an increase on its investment portfolio. The Club is well capitalised at 30 June with US$ 338.2m of net assets.
- Combined ratio 102.2% (June 2019: 105.9%)
- Capital and free reserves US$ 338.2m (June 2019: US$ 330.2m)
- Earned premiums US$ 113m (June 2019: US$ 108.2m)
- Claims costs (net of reinsurance) US$ 75.1m (June 2019: US$ 76.4m)
- Underwriting deficit US$ 2.2m (June 2019: US$ 5.7m)
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Below are the interim consolidated financial statements that appear in our report in JPEG format. Click on the image to enlarge and right click to download by selecting ‘Save image as’.