14 Sept 2023
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 2023.
The Club has reported a combined ratio of 98.5% which was in line with budget. The underwriting result of a US$ 1.8m surplus has been driven by 6% growth in earned income compared to the first half of 2022.
Financial Summary
- Underwriting surplus US$ 1.8m (June 2022: surplus US$ 4.3m)
- Combined ratio 98.5% (June 2022: 96.2%)
- Gross earned premiums US$ 137.0m (June 2022: US$ 129.5m)
- Total Members 8,672
- Total gross tonnage 29.9m
- Total vessels 34,424
- Capital and free reserves US$ 368.9m (December 2022: US$ 337.4m)
Click here to view the Half Year Report 2023, or to view the press release click here.
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