Britannia results

P&I Club Britannia reported total calls and premiums for 2020/2021 were marginally lower than the previous year, and the underwriting result was a deficit of US$20.5 million before allowing for the investment return allocated to the technical account. The strong investment performance achieved for the financial year ended resulted in an overall surplus for the year of $37 million after tax. Claims incurred in the financial year increased to $118.3 million ($111.7 million in the previous year). Retained claims incurred in the 2020/2021 policy year at the 12-month stage were $136.6 million, marginally higher than the 2019/2020 policy year at the same time.