8 December 2016, Bangkok:  In a move designed to support owners in difficult trading conditions, for the second year running, The Swedish Club has announced a zero percent general increase for the upcoming P&I renewals 2017-2018.

Speaking at the Club’s Board meeting in Bangkok, Lars Rhodin, Managing Director of The Swedish Club, said that entered tonnage on the P&I side of the business was sustaining controlled growth, a continued appreciation from the Club’s members for the zero general increase previously declared for 2016/2017.

Mr Rhodin told Board members: “This positive result has been ahead of expectations and has demonstrated the importance of the Club’s continuing balanced underwriting approach in a competitive market.”

The Swedish Club Board agreed upon an alternative cover in FD&D of USD 10 million (above the standard of USD 5 million) for legal and associated costs for any one dispute. The general increase was again set to zero per cent.

-Ends-

For further information please contact:
Debra Massey +44 (0) 1296 682356                         

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Notes to Editors:

The Swedish Club was founded in 1872 and is today a leading and diversified mutual marine insurance company, owned and controlled by its members. The Club writes Protection & Indemnity, Freight, Demurrage & Defence, Hull & Machinery, Hull Interests, Loss of Hire, War Risks, and any additional insurances required by shipowners or charterers. It also writes Hull & Machinery, War risks and Loss of Hire for Mobile Offshore Units and FPSOs.

Its head office is located in Gothenburg, Sweden, with branch offices in Piraeus, Hong Kong, Tokyo, Oslo and London.