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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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’.