February 2024 P&I Renewals update
22 February 2024
Statement from Reto Toggwiler, Chief Underwriting Officer
The London Club is starting the new P&I year following a positive renewal. The strengthening of rating and deductible levels in line with our targets will reinforce our improved financial performance following a favourable claims experience and a positive investment return in the 2023/24 policy year. We were also delighted to see year on year growth in our mutual tonnage of 8.9%, supported by entries from new as well as existing Members. In addition, there have been commitments of tonnage for entry with the Club, which are due for delivery over the next months.
We are grateful for the support and confidence of Members and brokers.