JPI have released their 2025/26 renewal circular which details their requirements for a 7% General Increase for their Owners P&I and Charterers Liability entries. There will be no GI for FDD entries. As always, reinsurance rate adjustments will be passed on to the Membership.
The Club have had a relatively good year with their latest published combined ratio for 2023 coming in at 91.2% whilst also announcing a 29% increase in free reserves. The required increases have been attributed to significant pool contributions and global inflation.
Release calls have been set as below:
P&I:
2022/23 – 5%
2023/24 – 3.5%
2024/25 – 3.5%
2025/26 – 15%
FD&D:
2022/23 – 25%
2023/24 – 3.5%
2024/25 – 3.5%
2025/26 – 15%
The full circular can be found below:
