The UK P&I Club, a shipping protection and indemnity mutual insurer, has added 1.2 million gross tons of mutual business in the 2015 renewal season, taking mutual owned tonnage to 127 million gross tons, and receiving a premium increase of 3.5% before terms.
The Club’s combined mutual owned and chartered tonnage now stands at over 225 million gross tons, an increase of over 3% year-on-year.
Hugo Wynn-Williams, Chief Executive of Thomas Miller P&I, the UK P&I Club’s managers, said: ”We are delighted by the interest shown in the Club, which was reflected by the 6.1 million gt of new business which came into the Club during this renewal. The Club maintains its commitment to quality and declined to quote on over 2 million gt of new business from more than 20 owners and charterers.”
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