Month: August 2018

Half Year Results: Consistent Performance from The Swedish Club

Debra Massey

The Swedish Club has reported a combined ratio of 96 % for the first six months of 2018, in line with a policy of balanced growth and consistent performance. The Club is pleased to have now delivered an average combined ratio of below 100 % for ten years, despite a continued soft market for marine pricing and the third consecutive year of a zero general P&I price increase.

This solid underwriting performance balanced out prevailing weak investment conditions: an underwriting result of USD 4.7 million bringing the result to a surplus of USD 0.2 million before the agreed P&I discount of 5 %, effective 20 August 2018.

Free reserves are still on a high level of USD 210 million (after P&I discount effective 20 August 2018), enabling the Club to continue to grow according to plan. The Swedish Club currently insures some 2,700 ships on H&M and has doubled its volume in P&I over the last decade to in excess of 50 million gross tonnes – the inclusion of charterers’ liability bringing this total to over 80 million gross tonnes. Read more →

Tindall Riley Team Raise Money by Walking 56 Miles Along the Thames Path

Phil Page

A group of staff from Britannia’s managers, Tindall Riley, walked 56 miles of the Thames Footpath Route to raise money for the Marine Conservation Society with a mission to complete the walk within 24 hours.

13 staff set off from Cookham, Berkshire, at 6pm on 12th July and walked through the night, before being joined by 13 more colleagues at Hampton Court to finish the remaining 25 miles to London Bridge. Nearly all participants completed the challenge within the time limit, with one group of six doing the entire walk in under 20 hours.

The team raised £2,255 via its JustGiving page and with Tindall Riley pledging to match the amount, a total of £4,510 has been raised for this deserving charity which helps protect the planet’s seas, shores and wildlife.

“I would like to congratulate my fellow colleagues who took part in this challenge and raised a huge sum of money for such an admirable cause,” said Andrew Cutler, CEO Britannia.

“Cleaning up our oceans is vital work and is such an appropriate charity for our team to have chosen, particularly as the IMO is rightly focussing on regulations designed to minimise the maritime industry’s negative impact on our oceans,” he continued.

If you would like to find out more about the work that the Marine Conservation Society does, simply access the website: https://www.mcsuk.org/ and get involved as there are plenty of ways that volunteers can help.