Zero Per Cent for The Swedish Club

Lars Rhodin
Lars Rhodin, Managing Director of The Swedish Club

By MarEx 2016-12-09 09:34:32

In a move designed to support owners in difficult trading conditions, for the second year running The Swedish Club has announced a zero per cent general increase for the up-coming P&I renewals 2017-2018.

Speaking at the Club’s Board meeting in Bangkok, Lars Rhodin, Managing Director of The Swedish Club, said that entered tonnage on the P&I side of the business was sustaining controlled growth, a continued appreciation from the Club’s members for the zero general increase previously declared for 2016/2017.

Mr. Rhodin told Board members: “This positive result has been ahead of expectations and has demonstrated the importance of the Club’s continuing balanced underwriting approach in a competitive market.”

The Swedish Club Board agreed upon an alternative cover in FD&D of USD 10 million (above the standard of USD 5 million) for legal and associated costs for any one dispute. The general increase was again set to zero per cent.

The products and services herein described in this press release are not endorsed by The Maritime Executive.

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