The Shipowners’ Club has held its premiums to the previous year’s levels for a second year running, having reported an increase of 7.3 percent in earned premiums for the half-year ended August 2011.

In its half-yearly report, Shipowners states that its strong results are a reflection of the organic growth it has experienced during the 2010 policy year, principally from the offshore sector. Entered tonnage increased by 6.5 percent to 19.45 million GRT, driven by new business, which in turn has been attracted by an expert claims handling service and the benefits of comprehensive liability insurance.

The half-yearly unaudited figures showed gross income for Shipowners rising to US$103.3 million. This was achieved in spite of a volatile start to the policy year with claims values up over 20 percent and an increase of 2 percent in claims frequency when compared with the 2010 policy year.

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