West results

West P&I Club's combined ratio for the 2025-2026 financial year was 98 per cent, an improvement on the prior year's 103.9 per cent. The Club's own claims were below their expected position and the share of pool claims was close to the budgeted level, assisted by West's recent positive pool performance. The board's primary operating performance measure, a three-year average combined ratio below 100 per cent, has again been met at 98.8 per cent, demonstrating consistent and strong technical performance. West's investment portfolio delivered a return of 7.9 per cent, generating US$65 million. The Club's free reserve increased by 23 per cent to $376.8 million, the highest level the Club has ever reported.