Statement from Ian Gooch, CEO of the Club’s managers (A Bilbrough & Co Ltd)
‘’The renewal process is an important part of the Club’s strategy and we are pleased to have achieved an outcome which is in line with our key premium objectives. In the face of increasing pool claims, uncertainties associated with the pandemic and diminishing premium levels, we have focused on sustainability in the rating of our P&I business which ensures the Club’s continuing strength going forward.
Inevitably, our focus on rating meant that – in a small number of cases – agreement could not be reached on the required increases and in a few other instances there was a reallocation of a small number of ships to suit the strategic purposes of both the members concerned and the Club. However, the overwhelming majority of members understood and backed the action we are taking, leading to a positive result overall. We are grateful for their continued support at a challenging time for everyone.”
Source: London P&I Club
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