P&I Clubs 2026 Renewal Requirements

Explore the P&I Clubs analysis in full

The Protection & Indemnity (P&I) Club boards have met and released their pre-renewal announcements for the policy year. Below, we outline premium adjustments, general increases, and policy changes across the various Clubs, detailing strategies to address reinsurance costs and underwriting results.

Club
P&I G/I or Target
FD&D G/I or Target
Deductible Changes
Call Amendments
Release Call
American
Britannia
Gard
5%
5%
No change
10% owners general discount for renewing members
  • 2026: 10%
  • 2025: 10%
  • 2024: 10%
  • 2023: 5%
London
6%
6%
P&I below USD20,000 to increase by USD2,000
None
  • 2026:15%
  • 2025:15%
  • 2024:12.5%
  • 2023: 5%

Both classes

Japan
NorthStandard
5%
5%
P&I below USD30,000 to increase by USD1,000
None
  • 2026: 12.5%
  • 2025: 12.5%
  • 2024: 5%
  • 2023: 0%
Both classes
Shipowners*
5%
N/A
  • 10% subject to minimum USD500
  • Legal costs members to be advised individually
None
  • No release calls
  • 2024:10%

Both classes

Skuld
7.5% (target)
7.5% (target)

Those below the minimum increased to the minimum levels

None
  • 2026: 15%
  • 2025: 15%
  • 2024: 10%
  • 2023: 7.5%

Both classes

Steamship
8.0%
8.0%
  • P&I to include fees, costs, expenses
  • FD&D Minimum deductible increased to USD10,000; maximum contribution increased to USD75,000
None
  • 2026: TBA
  • 2025: 15%
  • 2024: 10%
  • 2023: 0%
Both classes
Swedish
UK/UKDC
7.5%
Awaited
P&I below USD50,000 increase 10%, minimum USD1,000
None
Not disclosed
West of England
5.0%
5.0%
  • P&I if below USD50,000 increase by 10%
  • FD&D unchanged
None
  • 2026: 15%
  • 2025: 15%
  • 2024: 15%
  • 2023: 7.5%

Both classes

*Shipowners Club increase includes change in cost of IG reinsurance programme

NorthStandard 2026 Requirements

NorthStandard has issued a pre-renewal report in addition to announcing its 2026-27 renewal plans. The Club is seeking a 5% general increase for both the P&I and FD&D classes, although member accounts will also be individually rated and adjusted.

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The London Club 2026 Requirements

The London Club has announced its renewal plans for the 2026-27 policy year. The club will, once again, not be setting a general increase, but will instead target a 6% premium increase across the P&I book.

Read the analysis

Gard 2026 Requirements

Gard has announced its renewal plans for the 2025-26 policy year. A 5% average premium increase is required to maintain the mutual P&I result at a small underwriting loss.

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Skuld 2026 Requirements

Skuld has announced its renewal plans for the 2025-26 policy year – they will not have a general increase but, instead, they will underwrite member risks individually with an overall objective of obtaining a 5% increase.

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West of England 2026 Requirements

West of England has announced its renewal plans for the 2026-27 policy year - a 5% standard surcharge will be required for mutual P&I risks, plus any change to the cost of the International Group reinsurance program will be added.

Read the analysis

Shipowners Club 2026 Requirements

The Shipowners Club has announced a 5% general premium increase for 2026–27, a 10% rise in P&I deductibles, and plans to review Legal Costs Cover deductibles, while reporting strong investment returns despite modest claims inflation and an expected combined ratio above 100%.

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Steamship Mutual 2026 Requirements

The first General Increase for the 2026-27 policy year has been announced by Steamship Mutual. The Club has advised an 8.0% increase in premiums for all classes of business. The Club Board of Directors has concluded that no further capital distribution will be made at this juncture, the Club having returned USD42.8 million at this time last year.

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The American Club 2025 Requirements

The American Club is another club which no longer requires a specific general increase in premiums, but instead have mandated an overall target increase in premium of 7.0%.

Read the Announcement

The Swedish Club 2025 Requirements

The Swedish Club has advised its general increases proposed for the 2025-26 policy year. The Club is seeking a 5.0% general increase for both the P&I and FD&D classes.

Read the Announcement

Gard 2026 Requirements

Gard has announced its renewal plans for the 2025-26 policy year. A 5% average premium increase is required to maintain the mutual P&I result at a small underwriting loss.

Read the analysis

UK Club 2026 Requirements

The UK Club has announced its renewal plans for the 2025-26 policy year - a 6.5% premium increase will be required, plus any change to the cost of the International Group reinsurance program.

Read the analysis

Britannia 2025 Requirements

Britannia plan to return USD30 million to renewing members on 20 February 2025 by way of a premium credit against the first instalment of the 2025-26 premium.

Read the Announcement

UK Defence Club 2025 Requirements

The UK Defence Club is looking for a 5% upward premium adjustment, subject to record, for the 2025-26 year. The existing credit for entering the full fleet with the club is increased to 5% from 2.5%.

Read the Announcement

Japan Club 2025 Requirements

The Japan Club were the final club to announce renewal plans for the 2025-26 policy year with requirements being slightly above-average.

Read the Announcement
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Alex Vullo

Managing Director - P&I

Alex_Vullo@ajg.com

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