At its meeting on March 23rd 2006 the Board of Directors made the following decisions in respect of the open policy years:

2003/2004
The year was closed without a supplementary call.

2004/2005
The forecast for this year is a balanced result without any further deterioration. No supplementary call is predicted at present. It is anticipated to close this year in the spring of 2007. Due to the stable result the release call is reduced to 10%.

2005/2006
The technical result for 2005/2006 remains positive and therefore the current prediction of a zero supplementary call is maintained. The release call for this year is maintained at 25%.

The target at the renewal for 2006/2007 was set to achieve a 0% supplementary call.
The release call for this policy year is set at 25%.

There are no supplementary calls on Charterers’ P&I Insurance.

 

Yours sincerely, The Swedish Club Frans Malmros