The Swedish Club’s free reserves now exceed USD 100 million, placing the Club on a strong footing for further growth in the P&I and Hull sectors.

The Club’s results for 2006 were considered at a Board meeting in New York on March 22nd. The Board endorsed the addition of USD 11 million to free reserves, which now total USD 102 million.

The Board welcomed the renewal commitment of a further 1.7 million GT of tonnage, yet to be delivered, to the Club’s P&I portfolio. These entries will bring the owners’ P&I portfolio to 24 million GT.

The Swedish Club’s long-standing policy of zero supplementary calls was upheld in closing the 04/05 P&I year. The release call for 05/06 was reduced from 25 per cent to 10 per cent. Against the background of a general increase of 7.5 per cent, the Club achieved an overall increase in premium which was very close to target.