The Shipowners Club have bucked the trend of required increases for the 2025/26 policy year becoming the only Club to announce a nil GI. Crucially, the Club have also announced that premiums offered at renewal would be inclusive of any adjustment to reinsurance costs. This is worded to allow the Club to raise premiums where the retained premium is insufficient following the announced rises in reinsurance costs for the 2025/26 policy year.
In terms of deductibles, no Club wide increases have been applied.
The circular stated that despite increases in their own claims and claims declared to the IG pool they are expecting a combined ratio of under 100% at year end.
As always no release calls have been set.
The full renewal circular can be found below:
