UK P&I Club announces annual results

The UK P&I Club has announced its results for the year ended 20 February 2012. For the 2012 financial year, the combined ratio was 97%, and the surplus of $11 million. Free reserves and capital increased to $486 million at 20 February 2012. The Club said the level of capital puts the Club’s financial strength at the top level of its peer group in the P&I sector.