News 18 Dec, 2018 Group Reinsurance Rates 2019/2020 The arrangements for the renewal of the International Group General Excess of Loss (GXL) reinsurance contract and the Hydra reinsurance programme for 2019/20 have now been finalised. These include the Collective Overspill Cover, Excess War Risks P&I cover and MLC cover. Download PDF For 2019 Group Reinsurance rates per GT will be as follows: Owned entries Tonnage Category 2019 rate per G.T. % change from 2018 PERSISTENT OIL TANKERS $0.5747 % - 1.68 CLEAN TANKERS $0.2582 % - 1.69 DRY CARGO VESSELS $0.3971 % - 1.67 PASSENGER VESSELS $3.2161  % - 1.67 Following our usual practice, these rates will be charged as separate fixed costs together with 2019 Mutual call rates, giving this Club’s Members the full benefit of the reduction. Rates will be split evenly across all instalments. Pool structure No changes to the structure will be introduced for the 2019/20 policy year. Reinsurance Structure Changes: Following the Group reinsurance broker tender process undertaken during the spring of 2018, and the appointment of Miller and Aon as co-brokers on the Group General Excess of Loss (GXL), a review was undertaken and a number of changes to the current structure were made aimed at ensuring sustainability whilst improving the cost-efficiency of the collective reinsurance arrangements. The main changes to the programme structure for 2019/20 involve adjustment of the second and third layer attachment points, the introduction of a new multi-year private placement, and the introduction of a US$100 million AAD within the 80% market share in first layer of the programme. The first layer of the revised programme will provide cover from US$100 million to an increased upper limit of US$650 million excess of US$100 million, the second layer will cover from US$750 million to US$1.5 billion, and the third layer from US$1.5 billion to US$2.1 billion. There will be no change to the Collective Overspill layer which will provide US$1