The London P&I Club has reported strong year-on-year growth for its annual renewals for 2025, underpinned by a 12% growth in mutual tonnage, from 44 million gt up to 49.3 million gt, and a year-on-year increase in premium levels of 13%.

Reto Toggwiler, Chief Underwriting Officer at The London P&I Club, said:

“The London Club is pleased to report another positive year of growth in its mutual tonnage and the Club is on track to deliver a strong underwriting performance overall. The continued focus on strengthening the Club’s financial position, whilst ensuring the Club is well positioned to continue growing in a sustainable way, is reflected in this year’s very positive renewal outcome. It has been particularly pleasing to see additional tonnage being entered with the Club from both existing and new members globally.”

 “As always, the London Club is grateful for the support of its Members and brokers and remains committed to providing the highest levels of personal, reliable and quality service,” he added.

The strengthening of rating and deductible levels in line with the Club’s targets has been further supported by an improved S&P Outlook to Stable (BBB) as reported in early December 2024, reflecting a strong period of improved operating performance and strengthened capital position over the last two years.

Insuring a diverse range of shipowners and charterers, The London P&I Club is one of the world’s leading Protection and Indemnity Associations, providing P&I, FD&D, War Risks and other covers to our international membership and is one of The International Group of P&I Club’s 12 member Clubs.