UK P&I Club closes year with 104% COR
One of the oldest providers of mutual liability insurance to ship owners, UK P&I Club, has closed its financial year with a surplus of $9.5m increase in fee reserves to $494m (2011: 409m) and a combined ratio of 104% (2011: 98%).
The company reported its strongest renewal season in recent years, increasing gross tonnage to 120m, and saw a 3.7% rise in investment return of $39.6m. Standard & Poor's upgraded the company's rating
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