XINDE MARINE NEWS
The London P&I Club shares positive 2024 renewals outcome xinde marine news 2024-02-23 10:02


 
The London P&I Club has reported a strong outcome for its annual renewals for 2024, with a growth in mutual tonnage of 8.9% year on year. 
 
This positive outcome and strengthening of rating and deductible levels for the London Club has fallen in line with the Club’s target to improve its financial performance following a favourable claims experience and a positive investment return in the 2023/24 policy year.  
 
Reto Toggwiler, Chief Underwriting Officer at The London P&I Club, said:
 
“We are delighted to see year-on-year growth in our mutual tonnage, supported by entries from new and existing Members. In addition, there have been commitments of tonnage for entry with the Club, which are due for delivery over the next months, that will further strengthen the London Club’s position over the coming year.”
 
“We are grateful for the continued support and confidence of our Members and brokers,” he added.
 
Insuring a diverse range of shipowners and charterers, The London P&I Club is one of the world’s leading Protection and Indemnity Associations, providing P&I, FD&D, War Risks and other covers to our international membership and is one of The International Group of P&I Club’s 12 member Clubs. 

The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.

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