Shipowners’ Club to Maintain Rates with No General Increase for 2027

The Board noted that claims development for prior years remains in line with expectations with Combined Ratio for the 2026 financial year being slightly under 100% at the end of the third quarter.
Despite inflationary pressures and rising costs for the International Group reinsurance program, the Board has decided not to apply a General Increase for 2027.
The Club will absorb the expected increase in reinsurance costs, supported by its strong capital position and its commitment to limiting premium increases unless absolutely necessary.
As a result, a modest Combined Ratio above breakeven may be accepted by the Club in 2027 to support Members.
Notwithstanding the above, the Club will review individual Members risks and deductibles and seek adjustment as necessary.

The Club’s renewal position is available in the Renewal Circular