The Swedish Club Moves Forward on a Firm Footing
The Swedish Club has reported results for the 2018 renewal season in line with its focus on quality business and expert approach to managing current and future risks.
Growth is running according to plan and the P&I gross tonnage has moved in excess of the 50 million GT milestone. This follows on from the positive news announced by S&P Global Ratings (S&P) earlier this year, when it revised its outlook on The Swedish Club to positive from stable, affirming the 'BBB+' long-term insurer financial strength and issuer credit ratings for the Club.
УWe are pleased to see that our demonstrable financial stability, claims management expertise and commitment to service have attracted more tonnage from both existing members and new business," said Lars Rhodin, Managing Director of The Swedish Club. УThese renewal results are in line with our expectations and we thank our members and clients for their continued support.Ф
This statement comes on the back of the zero per cent general increase previously declared by the Club at the end of last year, a move which underpins the ClubТs commitment to offer its members competitive pricing in appreciation of a longstanding and stable relationship.
The Swedish Club will publish further details on its performance following its Board meeting at the end of March 2018.
The Swedish Club
The Swedish Club was founded in 1872 and is today a leading and diversified mutual marine insurance company, owned and controlled by its members. The Club writes Protection & Indemnity, Freight, Demurrage & Defence, Hull & Machinery, Hull Interests, Loss of Hire, War Risks, and any additional insurances required by shipowners or charterers. It also writes Hull & Machinery, War risks and Loss of Hire for Mobile Offshore Units and FPSOs. Its head office is located in Gothenburg, Sweden, with branch offices in Piraeus, Hong Kong, Tokyo and Oslo.