Club results

With balance underwriting, the Swedish Club reported an operating surplus of US$11.2 million, resulting in a combined ratio of 100 per cent – an outcome of stable claims frequency and severity. It said it fortified the Club’s average for a seven-year period to below 100 per cent. Meanwhile, Skuld announced a positive six-month result of $29 million, up from $9 million in the same period last year. Skuld’s technical result for the period stands at a $5 million loss and a corresponding combined ratio of 103 per cent at the half year, due in large part to two large claims shared by the International Group of P&I Clubs.