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Favourable figures for the American Club
The American Club
The American Club witnessed a positive outcome to the recently-concluded 2019 P&I renewal season. Its mutual P&I business saw tonnage increase by more than 1.6 million gt as of 20 February 2019, in comparison to the previous year, and by just under 900,000 gt in regard to mutual FD&D entries.
Year-on-year premium growth was more subdued – as soft market conditions continued to prevail – with increases of 4% for P&I and 2% for FD&D entries. The Club’s retained claims development for the most recent policy year remained favourable, emergence for 2018 at the twelve-month point being some 26% better than 2017.
However, the incidence of larger claims within the international group pool over recent months will counterbalance to some extent the very favorable results of the Club’s own members. (kd)