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 2022.
The Club has reported a combined ratio of 96.2% which was in line with budget. The underwriting result of a US$ 4.3m surplus has been driven by 8% growth in earned income compared to the first half of 2021 and a 2% reduction in overall claims costs.
- Underwriting surplus US$ 4.3m (June 2021: deficit US$ 0.9m)
- Combined ratio 96.2% (June 2021: 100.9%)
- Gross earned premiums US$ 129.5m (June 2021: US$ 119.7m)
- Total Members 8,262
- Capital and free reserves US$ 335.5m (December 2021: US$ 396.4m)
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