TOC EventsMultimodal 2018MULTIMODAL 2019The Maritime Standards Awards 2018Bühler GmbHCimbria Bulk Equipment A/S
  • TBA - Software Solutions & Services for ports, terminals & warehouses
  • TMS Awards 2016 winners
  • Bühler GmbH
  • TMS Tanker Conference 2018
  • Cimbria Bulk Equipment A/S
  • Stemm

Consistent performance from The Swedish Club

(Posted on 28/08/18)

The Swedish Club has reported a combined ratio of 96 % for the first six months of 2018, in line with a policy of balanced growth and consistent performance. The Club is pleased to have now delivered an average combined ratio of below 100 % for ten years, despite a continued soft market for marine pricing and the third consecutive year of a zero general P&I price increase.

This solid underwriting performance balanced out prevailing weak investment conditions: an underwriting result of USD 4.7 million bringing the result to a surplus of USD 0.2 million before the agreed P&I discount of 5 %, effective 20 August 2018. 

Free reserves are still on a high level of USD 210 million (after P&I discount effective 20 August 2018), enabling the Club to continue to grow according to plan. The Swedish Club currently insures some 2,700 ships on H&M and has doubled its volume in P&I over the last decade to in excess of 50 million gross tonnes - the inclusion of charterers’ liability bringing this total to over 80 million gross tonnes.

In the first half of the year, financial markets displayed increased volatility with signs that the global economy has lost some momentum after the strong 2017. Major stock markets and world indices were down at mid-year compared to the beginning of the year and concurrently, USD interest rates have continued to climb. In this environment, the investment portfolio showed a return of -0.4 %, in line with the Club’s benchmark.

Lars Rhodin, Managing Director of The Swedish Club says: “Looking ahead we will continue to work according to our strategy, which is to provide top quality and efficient all-in-one insurance solutions for global shipowners.”

Latest News

Genco completes acquisitions

(Posted on 14/09/18)

Genco Shipping & Trading Limited has announced that it has taken delivery of the Genco Defender... Read more


MAG restructure to focus on core business

(Posted on 14/09/18)

On a recent visit to the Gdynia head office of Morska Agencja Gdynia (MAG), Vice President, Krzysztof... Read more


“World's most eco-friendly bulker” delivered to ESL

(Posted on 11/09/18)

Viikki, the world's most eco-friendly bulk carrier, has been delivered to Aspo Group's ESL Shipping... Read more


Ships not operating in regulatory vacuum says ICS

(Posted on 11/09/18)

At the United Nations in New York, the International Chamber of Shipping (ICS) is representing shipowners... Read more


Nippon introduces first biocide free SPC antifouling

(Posted on 11/09/18)

Japan-headquartered Nippon Paint Marine has introduced what is thought the world’s first biocide... Read more


Energy transition offers innovators a competitive edge

(Posted on 11/09/18)

DNV GL – Maritime has released its second Maritime Forecast to 2050, part of a suite of Energy... Read more


Oldendorff tops VV list as SMM begins

(Posted on 03/09/18)

With one of the world’s leading trade fairs for the maritime industry, SMM in Hamburg this week... Read more


Inmarsat confirmed as fastest-growing maritime VSAT provider

(Posted on 03/09/18)

The digital transformation of the commercial shipping industry will pass a major milestone this September... Read more


New partner for CJC strengthens expertise

(Posted on 03/09/18)

Well-known maritime lawyer Gareth Williams has joined Campbell Johnston Clark (CJC) as a director of... Read more


Singtel and KVH Industries collaborate

(Posted on 03/09/18)

Singtel and KVH Industries, Inc, a global satellite and maritime communications provider, has announced... Read more


OvetTMS Tanker Conference 2018Vigan Engineering S.ACleveland Cascades LtdPort of StocktonTelestack
  • Telestack
  • Sailors Society
  • Ovet
  • Port of Stockton
  • Docksolid

Subscribe to our newsletter

Keep up to date with the latest global news in bulk cargo handling and shipping