The Board of The Swedish Club has announced a 7.5% General Increase for P&I in 2024, reflecting the balanced approach adopted by the Club to meet the needs of its members and the continuing volatile operating environment faced by the shipping industry.

Speaking at The Swedish Club’s December board meeting, held in London today, Managing Director Thomas Nordberg said: “We are continuing our drive for sustainable growth, with an enhanced focus on quality members and tonnage. This strategy has served us well in 2023 and will reinforce our strong platform for future growth and member attraction in what will remain a turbulent world. I am glad to share that our financial resilience in terms of solvency ratio has improved so far this year.”

Last month the Club demonstrated its commitment to members with the launch of a new range of Cyber Insurance products, available to all members and designed to be uncomplicated and accessible terms of both pricing and ease of understanding. This innovative step positions The Swedish Club as one of the first marine insurers to offer such coverage and aligns closely with the cyber security guidelines established by the International Maritime Organisation (IMO).