With balanced underwriting, the Swedish Club deliv[ds_preview]ered an operating surplus of 11.2 mill. $, resulting in a combined ratio of 100 % – an outcome of stable claims frequency and severity. This fortified the Club’s average over a seven year period to below 100 %.
Investment returns encountered substantial volatility during the period, particularly in the first quarter of the year and in connection with the Brexit outcome, but delivered a return of 3.0 %. Free reserves stood at 194.2 mill. $. Entered tonnage in P&I has been stable-to-growing since renewal in line with plan. The Club’s overall claims frequency for both P&I and Marine was on a par with 2015 levels and claims severity was stable, delivering a sound performance.
