• Overall claims frequency for the Club during the last 3 years is fifty percent higher than average for the period 2005-2010, and is increasing
• Underlying estimated claims inflation is 3 – 4% per annum
• International Group excess reinsurance negotiations are on-going and a small reduction or an as expiry renewal is expected
• Growth rate in line with expectation now standing at 40.7 million GT with an additional 21.2 million GT of charterers’ entries
• A general increase of 2.5% has been decided by the board in addition to changes in Group reinsurance cost
• An increase of deductible for crew liabilities in the amount of USD 1,000