Swedish results

The Swedish Club announced a significant increase in financial strength, with a positive underwriting outcome and investment earnings leading to a surplus of US$17m overall. This positive underwriting outcome resulted in a combined ratio of 93.5% with free reserves increasing to a record level of $168m. The year also saw an increase of 6% in owners’ P&I entries, which now total 37m GT. The Swedish Club’s total entry including charterers liability passed the 55m GT mark, an overall rise of 8% compared with the previous 12 months. This was coupled with notable growth in the hull/machinery insurance sector.