

(Posted on 31/03/25)
The Swedish Club has delivered strong results for 2024, posting a USD 34 million profit and significantly increasing free reserves to USD 217 million, up from 184 a year earlier. Robust investment returns — fuelled by rising stock markets and favourable interest rates — played a key role in driving profitability and cash flow.
Underwriting performance also improved, with a combined ratio of 98% across all insurance classes, reflecting disciplined risk selection and positive premium development throughout the portfolio. The Club achieved its targeted 5% general premium increase as agreed with the Board, an achievement made possible by the continued support from its loyal membership. Retention remained high at 97%, underscoring the continued trust members placed in the Club and the quality of its offering.
The Club’s financial position strengthened decisively throughout 2024, with improved solvency supported by prudent capital management and a well-positioned investment portfolio — key factors in ensuring long-term stability and consistency of service to members.
“Our performance in 2024 reflects our clear focus on operational excellence and member value,” said Managing Director Thomas Nordberg. “With strong positions in all key shipping markets, and steadfast commitment from our members around the world, we proudly remain a trusted partner in our industry.”
Amid increasing regulatory and geopolitical complexities, the Club will continue investing in capabilities that enhance its agility and risk management expertise, reinforcing its dedication to stability and delivering industry-leading support to our members in an evolving global landscape.
Amid increasing pressure on shipping to achieve the IMO 2050 decarbonization targets, the Responsible... Read more
The London P&I Club has renewed calls on ship owners, operators and charterers to address potential... Read more
Columbia Group is calling for urgent reforms in maritime education to address a growing shortage of... Read more
Maritime Information Services (MIS) has officially launched as a global media platform delivering daily... Read more
Russian and Ukrainian seafarers continue to experience significant psychological strain following the... Read more
Noatum Maritime, part of AD Ports Group’s Maritime & Shipping Cluster, announced the official... Read more
Leading vessel optimisation platform Smart Ship Hub has announced its partnership with AL Group &ndash... Read more
KR (Korean Register) has announced that LEE Jungkun, General Manager of KR’s Convention &... Read more
Dry bulk carriers entered with the International Association of Dry Cargo Shipowners (INTERCARGO) continue... Read more
The Nuclear Energy Maritime Organization (NEMO) is proud to announce that it has officially been granted... Read more