American Club stability

The American Club has reported relatively moderate drops from the year-on-year renewal results, which reflects overall stability within the context of recent challenges as well as its de-risking strategy. Gross tonnage for the Club's Class I (mutual P&I) entries stands at 22.5 million, down by approximately 2.5 million compared to inception one year earlier, with a relative premium income drop of 6.5 per cent in the period. Its Class II (mutual FD&D) portfolio followed a similar shift, while its Class III (charterers' liability) business is poised to increase by about 5 per cent in 2024 by comparison with the previous 12 months.