Group Club Steamship Mutual said that the financial position of the Club was one of the strongest in the P&I market, and that tonnage growth reflected the support of the Membership.
Gary Field, Head of Underwriting, noted that, at the close of the 2023 policy year, the Club’s owned tonnage was 125m, including the effect of the renewal. This equated to 7.5% tonnage growth over the past year, “well ahead of the growth in size of the world fleet over the same period”.
He added that, along with organic growth during the policy year, the Club had seen new owner and charterer members join the Club at renewal.
