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 2021.
The Club has reported a combined ratio of 100.9% which was slightly higher than budgeted but the financial markets performed remarkably well during the first six months of 2021 and the Club is pleased to report a 2.9% increase in its investment portfolio which helped to deliver a US$ 15m surplus for the period.
- Underwriting deficit US$ 0.9m (June 2020: US$ 2.2m)
- Combined ratio 100.9% (June 2020: 102.2%)
- Gross earned premiums US$ 120m (June 2020: US$ 113m)
- Total Members 8,203 (December 2020: 8,182)
- Total Tonnage 27.9m (December 2020: 27.8m)
- Total Vessels 33,986 (December 2020: 33,831)
- Capital and free reserves US$ 394.1m (December 2020: US$ 379.1m)
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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’.