London P&I Club outlook upgraded to Stable following improved operating performance

S&P Global Ratings has upgraded London P&I Club’s outlook to Stable following a notably strong period of improved operating performance that has strengthened the Club’s capital position. S&P Global has also reaffirmed the Club’s long-term financial strength rating as ‘BBB’.

According to S&P Global, the revised outlook is a result of more disciplined underwriting practices at the Club, while premium rate increases will support the Club’s recorded earnings at breakeven levels over 2025-2026. The London P&I Club is expected to maintain its capital position above the 99.95% confidence level of S&P Global’s model.

The outlook also noted that the London P&I Club’s solvency ratio has also improved to 190.5% as of February 2024, up from 129% in February 2023.

“This improved outlook from S&P Global is a clear reflection of the steps the London P&I Club has taken over the past few years to strengthen its capital position by underwriting business at more sustainable rates, whilst concurrently growing the membership across all markets.” said James Bean, Chief Executive Officer of the London Club.

“As the club moves forward, we will be closely monitoring our ongoing underwriting performance to ensure the London Club provides its services and expertise to its growing membership from a robust financial base.” he added.

Click here to read the S&P Global’s Ratings report: London P&I Club Outlook Revised To Stable | S&P Global Ratings