In a move designed to support owners in difficult trading conditions, for the second year running The Swedish Club has announced a zero percent general increase for the up-coming P&I renewals 2017-2018.
Speaking at the Club’s Board meeting in Bangkok, Lars Rhodin, Managing Director of The Swedish Club, said that entered tonnage on the P&I side of the business was sustaining controlled growth, a continued appreciation from the Club’s members for the zero general increase previously declared for 2016/2017.
Rhodin told Board members: “This positive result has been ahead of expectations and has demonstrated the importance of the Club’s continuing balanced underwriting approach in a competitive market.”
The Swedish Club Board agreed upon an alternative cover in FD&D of $10 million (above the standard of $5 million) for legal and associated costs for any one dispute. The general increase was again set to zero per cent.