CimbriaSailors SocietyGeneva DryTelestackViganVan Aalst
  • Sailors Society
  • Van Aalst
  • TBA Group
  • TMS Awards 2023
  • Geneva Dry
  • Vigan

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

INTERCARGO condemns deadly attacks on bulk carriers

(Posted on 14/06/24)

Following news that a seafarer has died and another has been seriously injured in the latest Houthi... Read more


Ecomar delivered to AtoB@C Shipping

(Posted on 14/06/24)

ESL Shipping's subsidiary AtoB@C Shipping has on 13th June taken delivery of Ecomar, which is the third... Read more


GAC to acquire Quadrant Pacific’s ship agency business

(Posted on 14/06/24)

GAC Group, a leading provider of shipping, logistics and marine services in the Asia-Pacific market,... Read more


Onboard carbon capture relies on industry collaboration says DNV

(Posted on 07/06/24)

Onboard carbon capture (OCC) is attracting interest within the shipping industry, providing shipowners... Read more


Franman to promote Saudi’s IMI in Greece and Cyprus

(Posted on 07/06/24)

Athens-based Franman, a leading representative and supplier of premium equipment, parts, products and... Read more


Veson: Bulker newbuilding values at 15-year high

(Posted on 01/06/24)

Values for newbuild vessels of 180,000 DWT are up by c.5.45% from USD 66.09 mil to USD 69.63 mil according... Read more


NorthStandard annual review figures verify value of scale and reach

(Posted on 31/05/24)

Global marine insurer, NorthStandard, recorded increases in premium income, investment returns, and... Read more


VIKAND and Riverr forge srategic partnership

(Posted on 31/05/24)

VIKAND, the global leader in maritime healthcare, and Riverr, a pioneering AI deeptech start-up based... Read more


CMB.TECH and Damen agreement for hydrogen-powered tugs

(Posted on 28/05/24)

CMB.TECH and Damen have announced their collaboration on hydrogen-powered ASD Tugs. Built by Damen,... Read more


Female cadets seeing growing acceptance says Columbia Group

(Posted on 22/05/24)

The maritime sector is at a crossroads, grappling with an evolution that is as necessary as it is overdue... Read more


TMS Awards 2023Port of StocktonTBA GroupBühler GmbHPort of South Louisiana
  • Bühler GmbH
  • Cimbria
  • Telestack

Subscribe to our newsletter

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