Emergency Contact Annual Report 2024 Home Latest updates Publications Annual Report 2024 6 May 2025 Sign up for alerts The Shipowners’ Club, the leading mutual P&I insurer in the smaller and specialist vessel sector, has reported encouraging results for the year ending 31 December 2024. For the 2024 financial year, the Club has reported a combined ratio of 98.8% which is a continuation of the Club’s track record of delivering ‘at cost’ insurance to its Members. For the first time in the Club’s history, the ongoing support we received from Members and their brokers saw gross earned premium exceed US$ 300m. The year-end saw the Club report net assets of US$ 447.5m, representing a 10% increase over the previous years. This strong capital position, which is reflected in Standard & Poor’s reaffirming the Club’s A rating (stable outlook), leaves the Club well placed to continue to provide high quality, well priced P&I insurance to its Members into 2025 and beyond. Financial and Member data summary Combined ratio 98.8% (2023: 98.4%) Underwriting surplus US$ 3.2m (2023: US$ 4.1m) Earned premiums, net of reinsurance US$ 266.9m (2023: US$ 248.9m) Incurred claims, net of reinsurance US$ 188.5m (2023: US$ 173.8m) Investments returned a gain of US$ 37.4m (2023: gain of US$ 65.4m) Capital and free reserves US$ 447.5m (2023: US$ 406.8m) Entered Members 8,671 (2023: 8,762) Entered tonnage 32.9m (2023: 31.4m) Entered vessels 35,733 (2023: 35,074) Share: Share: Back to top Latest insights 21 Apr 2026 Annual Report 2025 View article Annual Report 2025 23 Feb 2026 年规则 2026 View article 年规则 2026 23 Feb 2026 Regels 2026 View article Regels 2026 Sign up for alerts