London P&I reported continued growth in premiums, entered tonnage and free reserves during the /26 financial year, extending its positive momentum of recent years.
The club recorded an operating surplus of US$21.2 million, increasing year-end free reserves to US$192.4 million.
Gross premium income rose 8% year-on-year to US$172.9 million, supported by growth across both mutual and fixed premium P&I products. Entered tonnage also increased, exceeding 80 million gross tons.
London P&I reported a combined ratio of 108%, reflecting deterioration in a small number of historical fixed premium claims and its share of prior-year International Group pool claims. Despite this, a 7.2% investment return on assets under management and cash holdings contributed to a positive overall result.
The club noted that its three-year average combined ratio improved to below 100%.
“London P&I continues to build on the progress achieved in recent years, underpinned by strong capital and a clear strategic direction,” said James Bean, CEO of London P&I.
He added that the club remains focused on technical pricing, careful risk selection and close engagement with members in a more challenging operating environment.
The financial results follow changes at board and management level. Vassilis J. Laliotis became Chairman in February 2026, succeeding John M. Lyras, who stepped down after 45 years of service to the club.
London P&I also strengthened its leadership team with the appointment of Deborah Yu as Regional Director, Asia, and Victoria Papageorgiou as Commercial Director.
The post London P&I reports higher premiums and reserves in /26 appeared first on Container News.
