Emergency Contact Annual Report 2023 Home Latest updates Publications Annual Report 2023 18 Apr 2024 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 2023. The Club has reported a combined ratio of 98.4% for the 2023 financial year, with a close to breakeven underwriting result of US$ 4.1m. The investment portfolio returned an overall gain of US$ 65.7m, with closing net assets of US$ 406.8m. The Club’s capital strength and focused management of risk resulted in Standard & Poor’s reaffirming its credit rating of A (stable outlook), leaving the Club well placed to continue to provide high quality, well priced P&I insurance to its Members into 2024 and beyond. Financial and Member data summary Combined ratio 98.4% (2022: 97.4%) Underwriting surplus US$ 4.1m (2022: US$ 6.2m) Earned premiums, net of reinsurance US$ 248.9m (2022: US$ 236.4m) Incurred claims, net of reinsurance US$ 173.8m (2022: US$ 167.3m) Investments returned a gain of US$ 65.7m (2022: loss of US$ 65.6m) Capital and free reserves US$ 406.8m (2022: US$ 337.4m) Entered Members 8,762 (2022: 8,527) Entered tonnage 31.4m (2022: 29.6m) Entered vessels 35,074 (2022: 33,808)​​​​​   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