The London P&I Club has concluded the 2026 renewal season with another positive outcome, reflecting a continued focus on sustainable growth, underpinned by underwriting discipline, portfolio quality and personal service-led relationships with Members and Assureds.
The Club recorded year-on-year growth of 14.5% in mutual tonnage, increasing entered tonnage to 56.7 million gt and obtaining its targeted premium increase for renewing business. These outcomes were achieved against a backdrop of continued solid financial performance, with emphasis on premium adequacy and prudent risk selection.
The renewal result was driven primarily by organic development within the existing membership, with Members and Assureds adding significant tonnage during the policy year, reflecting a true vote of confidence in what the London Club has to offer. The Club also welcomed several new Members, strengthening its presence in established markets while also enjoying very high levels of retention.
Importantly, the Club’s growth reflects deliberate and selective underwriting decisions. Commitments of additional tonnage upon delivery further demonstrate Member and Assured’s confidence in the Club’s long-term strategy and financial stewardship.
Reto Toggwiler, Chief Underwriting Officer at the London P&I Club, said:
“The London Club is pleased to report another positive renewal which has once again indicated a clear vote of confidence in the Club. The strength of our renewal reinforces the importance Members, Assureds and their Brokers place on the quality of service we provide.”
“While we are pleased to see continued growth, our primary focus remains on building a resilient and balanced membership that aims to deliver consistent results for the Club through strong underwriting discipline, financial responsibility and close, personal engagement with each Member’s and Assured’s business. Growth is a consequence of this approach, not the objective in itself.”
“As always, the London Club is grateful for the continued support of its Members, Assureds and their Brokers and remains committed to providing the highest levels of personal, reliable and quality service. We look forward to working closely with our Members and Assureds to support their needs and unlock opportunities in an ever-evolving and challenging industry,” he added.
The Club’s 2026 renewal also coincides with a planned leadership transition at Board level. Mr John Lyras stepped down as Chairman on 20 February 2026 following 45 years of distinguished service to the Club, the last 30 years of which were as Chairman. Vassilis J. Laliotis of J. Laliotis Maritime Group has been appointed Chairman, having served as Vice-Chairman for the past eight years.
Insuring a diverse international Membership of shipowners and charterers, The London P&I Club provides Protection & Indemnity, FD&D, War Risks and related covers and is a member of the International Group of P&I Clubs.
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