P&I club sees earned premiums rise nearly 6%

U.K.-based smaller vessel protection and indemnity provider The Shipowners’ Club reported a 5.9% year-on-year growth in earned premiums, net of reinsurance, to $236.4 million in 2022, while its underwriting result grew to $6.2 million from $2.9 million in 2021, Sea News reported. The P&I club reported a combined ratio of 97.4% compared to 98.7% in 2021.