Results Archives - Page 30 of 70 - Maritime Shipping News

Tysers criticizes American Club introduction of Premium Earned But Unbilled

5 October 2021

Broker Tysers has now released its annual assessment of the P&I Market and, in particular, the International Group Clubs. IMN will be summarizing the individual clubs over the coming days, concluding with a combined summary of the club’s financial performances, conditions, rankings, ratings etc. Today: American Club American Steamship Owners Mutual Protection & Indemnity Association,…

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https://insurancemarinenews.com/insurance-marine-news/tysers-criticizes-american-club-introduction-of-premium-earned-but-unbilled/

Standard Club Financial Report 2021

21 September 2021

For the 2020/21 financial year Standard Club recorded a combined ratio of 121% (2019/20: 131%). It said that the loss was driven by exceptionally high claims on the Pool made by other members of the International Group. The group’s free reserves fell to $360.3m at year-end, compared to $393.7m 12...

https://insurancemarinenews.com/insurance-marine-news/standard-club-financial-report-2021/

Investment returns zoom Shipowners’ back into H1 profit

13 September 2021

Shipowners’ Club booked a net gain of $15 in its first half, to June 20th 2021, helped by buoyant equity markets that generated an investment return of 2.9% for the club in the first half. The Club reported a combined ratio of 100.9%, which it said “was slightly higher than budgeted” “Members and...

https://insurancemarinenews.com/insurance-marine-news/investment-returns-zoom-shipowners-back-into-h1-profit/

Increased number of large claims hits Skuld’s H1 result

9 September 2021

Norway-based marine insurer and mutual P&I Club Skuld has reported a loss of $24.9m for the first six months of its 2021/22 financial year to February 20th 2022, compared with a loss of $14.5m for the same period in 2020/21. Premiums and calls rose to $201.1m, from $190.0m. The balance carried...

https://insurancemarinenews.com/insurance-marine-news/increased-number-of-large-claims-hits-skulds-h1-result/

Insurance payout boosts drilling contractor to profit

8 September 2021

An insurance payout related to the wrecked Naga 7 (IMO 9679012) helped lift Malaysian drilling contractor Velesto Energy to a gross profit during the quarter ending on June 30th. Velesto’s pre-tax profit rose to 20.8m ringgit (US$4.9m) compared to a pre-tax loss of 13.5 million ringgit during the...

https://insurancemarinenews.com/insurance-marine-news/insurance-payout-boosts-drilling-contractor-to-profit/

Significant growth for The Swedish Club in H1, but high CR hits bottom line

24 August 2021

The Swedish Club has reported “continued progress in business development” for H1 2021, with P&I running at 60m gt (4,400 vessels insured). Gross premiums earned rose to $92.3m, from $85.9m in the same period last year, with premiums net of reinsurance up to $72.2m, from $66.9m in H1 2020. The Club...

https://insurancemarinenews.com/insurance-marine-news/significant-growth-for-the-swedish-club-in-h1-but-high-cr-hits-bottom-line/

QBE swings back into profit in H1

13 August 2021

Marine energy and aviation made up 7.2% of H1 GWP, down from 8.6% in H1 2020. Most of the MEA written was in the International Division, where it was the third-largest sector, making up 15.3% of the $3.89bn in gross premiums in H1 2021. By contrast, in the North America division MEA made up only…

The...

https://insurancemarinenews.com/insurance-marine-news/qbe-swings-back-into-profit-in-h1/

Japan Club Annual Report

9 August 2021

In its annual report for policy year to February 20th 2021, Japan Club’s Director General Shizuo Takahashi noted that many group clubs had increased their insurance premiums for the policy year 2021 due to deterioration of their insurance balance. Japan Club applied a general increase (GI) of 10%...

https://insurancemarinenews.com/insurance-marine-news/japan-club-annual-report/

Hiscox Re achieved double-digit rise in marine treaty at Jan 1st renewal

4 August 2021

In reporting its first-half results, Hiscox has said that its Hiscox Re & ILS achieved an average increase of 9% across the portfolio and a cumulative rate increase of 36% since 2017. “The business benefitted from double-digit increases in risk, marine, retro and North American property at the...

https://insurancemarinenews.com/insurance-marine-news/hiscox-re-achieved-double-digit-rise-in-marine-treaty-at-jan-1st-renewal/

S&P affirms Skuld’s “A” rating

30 July 2021

Rating agency Standard & Poor’s has affirmed the ‘A’ rating of Norway-based marine insurer and mutual Skuld. S&P said that Skuld had a strong reputation and a market position in the marine and P&I insurance (P&I) market, although, as was the case with its peers, it was relatively undiversified...

https://insurancemarinenews.com/insurance-marine-news/sp-affirms-skulds-a-rating/

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