2017 was a good year for the Club. The underwriting surplus of $29 million was the largest in recent years. This, when coupled with a strong investment return of over $43 million, delivered a total surplus of $72 million. After adjusting for forward currency contracts, the Free Reserves at 20 February 2018 increased by $82 million to $540 million.
The loss prevention team at UK P&I Club has announced it has been working with Geollect, the UK and US based Geospatial Intelligence Company, to provide its members with cutting edge data feeds with geospatial analysis, providing essential information on ports and locations across the globe.
On Wednesday 21st March representatives from across the Thomas Miller Businesses (incl. UK P&I Club, TT Club, ITIC, Thomas Miller Specialty and UK War Risks & Hellenic War Risks Club) hosted a workshop in Athens on Understanding the Maritime Cyber Threat.
The Club emerges from the renewal to start the new policy year with total mutual owned tonnage of 139 million gt, slightly higher than at the start of the previous policy year. Combined mutual-owned and chartered tonnage now stands at around 239 million gross tonnes.
Navigators Management (UK) Limited and Thomas Miller Specialty announced today that they have entered into exclusive discussions under which Thomas Miller Specialty would acquire Navigators' fixed-premium protection and indemnity business.