Japan P&I announces 7% GI for owners P&I and chartered entries

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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:

2025 Renewal and Open Policy Years – Japan P&I Club

Author

Saraid MC CARRICK

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