UK P&I

Summary of announcement

The UK Club have announced a 7.5% General Increase (GI) for the 2026 renewal.

The Club noted that, after eight months, their own performance is roughly in line with projections, however Pool claims were again developing faster than anticipated and the Club highlighted significant volatility in the last six years in both frequency and severity of these large losses.

The Club's current share of Pool claims is the third highest for two decades and they therefore have highlighted their concerns around the potential for another demanding year on the Pool. They also cite that attritional loss and general expense inflation continues to run at approximately 4%, underscoring ther requirement for further increases.

In addition to the GI, a 10% increase will apply to all deductibles below USD 50,000, subject to a mimimum increase of USD 1,000.

Favourable global investment market conditions have led to strong returns for the Club, increasing overall free reserves to USD 500m.

Further details can be found in the Club's bulletin, here.