The London P&I Club has announced a successful outcome for its annual renewals for 2024, with a significant growth in mutual tonnage of 8.9% compared to the previous year. This positive result is attributed to a favorable claims experience and a positive investment return in the 2023/24 policy year, leading to an improvement in the Club’s financial performance.
Reto Toggwiler, Chief Underwriting Officer at The London P&I Club, expressed delight at the year-on-year growth in mutual tonnage, supported by entries from both new and existing Members. Additionally, there are commitments of tonnage for entry with the Club in the upcoming months, further strengthening its position in the industry. The Club is grateful for the continued support and confidence of its Members and brokers.
As one of the world’s leading Protection and Indemnity Associations, The London P&I Club provides a range of insurance covers to a diverse group of shipowners and charterers. With a focus on improving financial performance and strengthening its position in the industry, the Club’s positive outcome for its annual renewals reflects its commitment to providing quality services to its international membership.
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