In recognition of the need to maintain a balanced approach, the Board of The Swedish Club decided to set a 10% P&I General Increase for 2023. The FD&D General Increase has been set at 15%.
Speaking at last week’s board meeting, Managing Director of The Swedish Club, Lars Rhodin, said: “It is essential for the long-term stability of the Club that premiums remain in line with exposures. The current geopolitical environment, coupled with a slow post-COVID recovery, has left the world facing levels of inflation that have not been experienced for many years. We are seeing this trend reflected in claims inflation, and it is essential for our members that we continue to offer stable performance and stable underwriting for which we are known.”
The Swedish Club continues to develop quality business, with high levels of member retention and selective growth across all sectors.
For further information, please contact Debra Massey at +44 1296 682675, or email dmassey@elabor8.co.uk.
Notes to Editors
The Swedish Club, founded by shipowners in 1872, 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 insurance 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 in Gothenburg, Sweden, with branch offices in Piraeus, Oslo, London, Hong Kong, and Singapore.