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.
- 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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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’.