Renewal Update - March 2011
We would like to thank our Members, both existing and new, for their support during another successful renewal for the Club.
Over 5M GT of owned tonnage joined the Club at 20 February, taking the total owned tonnage to over 105M GT, representing an annual growth of 20%. The chartered tonnage has also grown significantly to well in excess of 40M GT, taking our combined membership very close to 150M GT, this represents a significant period of development for the Club during its 150th Anniversary year.
The Club continued to benefit from organic growth achieved through existing Members, in addition to welcoming a number of new Members at the 20 February renewal.
We are pleased to report significant financial progress and a premium renewal increase of nearly 2%, we also anticipate that the growth in the Club’s free reserves will at least match the growth in our membership.
Overall, we have started the new policy year in excellent shape and we look forward to the challenges ahead.