Half Year Report 2016

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The Club has reported results for the six months ended 30 June 2016.

The Club recorded a 98.1% combined ratio, which came in ahead of expectations and generated an overall surplus of US$ 11.8m, increasing the Club’s free reserves to US$ 291.2m. The Club’s investment portfolio was a key contributor to the financial result.

Financial summary:

  • Combined ratio 98.1% (2015: 87.0%)
  • Capital and free reserves US$ 291.2m (2015: US$ 301.8m)
  • Earned premiums US$ 112.8m (2015: US$ 118.0m)
  • Claims costs US$ 72.7m (2015: US$ 63.6m)
  • Underwriting surplus US$ 1.9m (2015: US$ 12.9m)

After careful consideration of the Club’s financial position, the Board decided that no general increase would be applied to premiums for the 2017 policy year. This will be a third consecutive year in which no general increase has been applied.

View the report by clicking on ‘view pdf’ above, or view the press release.

To the right are the graphs that appear in our report in JPEG format. Click on the image to enlarge and right click to download by selecting ‘Save image as’.

Interim-consolidated-balance-sheet Interim-consolidated-income-and-expenditure-account