Open Policy Years and Renewal 2025The Committee met in Newcastle, UK on 27 November 2024 and reviewed the Class financial position, the open policy years and the requirements for the 2025 renewal.Open Policy YearsThe open policy years 2023/24 and 2024/25 were reviewed and no call above Estimated Total Premium is expected.Release calls were maintained for the open policy years as follows:2023/24: 5%2024/25: 10%Renewal 20 February 2025The Committee is focused on maintaining the strong financial position of the Class through four pillars of stability: a diversified portfolio, sustainable underwriting, comprehensive reinsurance and strong reserves.Taking account of the current claims environment and the projected risk environment for the 2025 policy year, the Committee resolved to declare a 5% increase in premium rates at the forthcoming renewal.The club managers will continue to review all members' premiums and terms to ensure these are further adjusted to reflect individual performance and exposure.The Class underwriting team look forward to working with you to ensure a smooth renewal.JEREMY GROSE Managing DirectorNorthStandard LimitedPAUL JENNINGS Managing DirectorNorthStandard LimitedCircular Ref 2024 / 025View Circular PDF