Britannia P&I
2026/2027 General Increase and Renewal Information
General Increase
5%
Capital Distribution
5%
Release Calls
2023/24: 0%
2024/25: 5%
2025/26: 7.5%
2026/27: 15%
FD&D
2023/24: 0%
2024/25: 5%
2025/26: 10%
2026/27: 20%
Summary of announcement
Britannia have announced a 5% General Increase (GI) for the 2026 renewal with a 5% capital distribution (calculated on Gross ETC) applying to renewing vessels.
The Club achieved a solid 2025/26 renewal result. This was following a challenging 2024/25 policy year, attributing this to significant retained claims and much highter than projected Pool claims.
Volatility remains a primary concern with regard to both claims (retained and Pool) and investment returns. Whilst investment returns remain ahead of projections, the Club has also witnessed some negative impact from the effect of the weakening USD.
Despite these challenges, Britannia are returning USD 15m to its renewing members and has issued a 5% GI. A 10% increase will be applied to all deductibles below USD 50,000, subject to a minimum increase of USD 1,000.
Further details can be found in the Club's bulletin, here.
2025 Club Overview
Market Share (Owned Tonnage)
Market Share (Owned Premium)
S&P Rating
A- (stable)
Combined Ratio (Financial Year)
Investment return
Free Reserves (% change)
Call History
2023-2025
*Target premium uplift
Combined Ratio
Historical Trend
Financial Year (USD Millions)
*2023/24 NET Premium
Underwriting Result
Financial Year - (USD Millions)
Investment Asset Allocation
*Diversified growth fund
Historical Trend
for Total Assets and Free Reserves (USD Millions)