London results

The London P&I Club has announced that it is raising supplementary calls on the 2019/2020, 2020/2021 and 2021/2022 P&I policy years. These calls represent an unusual step for the Club. The last time it took such action was in 2008 during the global financial crisis. Chairman of the London P&I Club board of directors, John Lyras explained: “The raising of the supplementary calls follows the Club’s experience of particularly adverse trading conditions and underwriting deficits on its mutual P&I business for the last two policy years and a very high level of claims in the current year.”