The latest from the Swedish Club, which highlights how inflation is inevitably pushing up premiums as we move towards 2023.
In recognition of the need to maintain a balanced approach, the Board of The Swedish Club has made the decision to set a 10% P&I General Increase for 2023. The FD&D General Increase has been set at 15%.Speaking at last week’s board meeting, Managing Director of The Swedish Club, Lars Rhodin, said: “It is essential for the long-term stability of the Club that premiums remain in line with exposures. The current geopolitical environment, coupled with a slow post-COVID recovery, has left the world facing levels of inflation that have not been experienced for many years. We are seeing this trend reflected in claims inflation, and it is essential for our members that we continue to offer stable performance and stable underwriting for which we are known.”The Swedish Club continues to develop quality business, with high levels of member retention and selective growth across all sectors.
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