The Board of The Swedish Club has approved a 5% general increase in premiums for Protection and Indemnity (P&I) cover for 2025 and a similar 5% rise for Freight, Demurrage, and Defence (FD&D) cover.
The adjustment is intended to support the Club’s long-term financial stability and growth objectives.
The decision was announced during the Board meeting held in London on 21 November.
Managing Director Thomas Nordberg stated that the Club is achieving steady progress in its financial recovery, aligning with its three-year strategic plan for sustainable growth.
“As we continue to grow in a controlled manner to restore our financial strength, we are seeing solid figures," said Nordberg.
Nordberg noted that maintaining robust underwriting practices, rather than relying heavily on investment returns, is essential to this strategy.
"In line with the Club’s three-year strategic plan for sustainable growth, maintaining a strong underwriting performance without an over-reliance on investments is key to that stable growth. To this end, I am also happy to report that our solvency ratio has continued to improve in 2024,” he added.
According to Nordberg, the organisation aims to balance controlled growth with efforts to strengthen its financial foundation.
Members have been informed of these changes through a circular.
"Our members always remain our first priority and we are committed to delivering the best possible services and solutions in the midst of ongoing global challenges," said Nordberg.
Moreover, Nordberg pointed to recent innovations such as the Heavy Weather Alert tool, introduced earlier this year, as part of the Club’s efforts to address members' evolving needs.
"With such a strong Board underpinning us, together with our very supportive members and our talented staff. I look forward to a successful 2025,” he said.
The 5% increases for both P&I and FD&D will contribute to sustaining the Club’s operations while supporting its goal of financial resilience.
How will these adjustments impact the shipping industry, and what are your thoughts on The Swedish Club's strategic direction? Share your perspectives in the comments below.
