2025/26 H1 Performance and 2026/27 Renewal arrangements (5.670)

This circular provides an update on London P&I’s performance in the first half of 2025/26 and outlines the renewal approach for 2026/27. It also confirms release call rates, payment timings and the key points Members and Brokers should note for renewal.

London P&I reports improved premium income, a modest underwriting deficit in H1, stronger investment returns and increased free reserves. The circular then sets out the renewal approach for Class 5 (P&I) and Class 8 (FD&D), including targeted average rate increases, deductible adjustments and release call rates.