News 13 Dec, 2017 Group Reinsurance Rates 2018/2019 The arrangements for the renewal of the International Group General Excess of Loss (GXL) reinsurance contract and the Hydra reinsurance programmes for 2018/19 have now been finalized. These include the Collective Overspill Cover, Excess War Risks P&I cover and MLC cover. Download PDF For 2018 Group Reinsurance rates per GT will be as follows: Category 2018 rate per GT % change from 2017 DIRTY TANKERS $0.5845 % - 1.85 CLEAN TANKERS $0.2626 % - 1.83 DRY CARGO VESSELS $0.4038 % - 1.85 PASSENGER VESSELS $3.2707             % - 1.84 This represents a reduction for all categories of vessel and following our usual practice, these rates will be charged as separate fixed costs together with 2018 Mutual call rates, giving this Club’s Members the full benefit of the reduction. For 2018/19, reinsurance rates will be split evenly across all instalments. Pool Structure Changes: Following a detailed review of the current pool structure during 2017, a number of changes to the current structure will apply for 2018. At present, the lower pool layer attaches from US $10 million to US $45 million, and the upper pool layer attaches from US $45 million to US $80 million. With effect from 20 February 2018, the lower pool layer ceiling/upper pool attachment point will be lifted from US $45 million to US $50 million and the layer from US $80 million to the GXL attachment (US $100 million) will be absorbed into the pool and merged with the upper pool layer which will attach from US $50 million to US $100 million with an individual club retention of 7.5% across the layer.   Hydra participation: Currently, the layer from US $80 million to US $100 million is reinsured 100% by Hydra. From 20 February 2018, following the changes to the pool structure outlined above, the Hydra reinsurance within this layer will be reduced to 92.5%, with the remaining 7.5% retained within the ind