P&I Clubs 2027 Renewal Requirements

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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	8% (target)	8% (target)	All under USD25,000 increased by USD1,000 (all classes)	None	2026: 20% 2025: 20% 2024: 35% 2023: 15% Both classes
Britannia	5% (target)	5% (target)	All under USD50,000 increased by 10% minimum USD1,000 (P&I only)	USD15 million capital return (approx. 5% ETC)	2026: 15% (20% FD&D) 2025: 7.5% (10% FD&D) 2024: 5% (both classes) 2023: 0% (both classes)
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	5%	5%	All mutual P&I under USD50,000 increased by 10%, minimum USD1,000	None	2026: 15% 2025: 15% 2024: 3.5% 2023: 3.5% Both classes
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	5%	5%	P&I increase by USD2,500 if below: Crew USD10,000 Cargo USD17.500 3rd party USD30,000 Other USD15,000 FD&D unchanged	none	2026:15% 2025:15% 2024:15% 2023: 3% Both classes
UK/UKDC	7.5%	5.0%	P&I below USD50,000 increase 10%, minimum USD1,000 FD&D unchanged	FD&D continuity credit at 10%	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

Shipowners Club 2027 Requirements

The Shipowners Club has announced that there will be no General Increase applied for 2027/28 and that expected increases in reinsurance will be absorbed by the Club. They also reported premium income having increased by over USD15m, their expectation of a positive investment result and a projected year-end combined ratio close to break-even. As per previous years, the Club will review Members’ claims records on an individual basis, applying adjustments in premiums, terms and deductibles where appropriate.

Read the full announcement

UK Defence Club 2026 Requirements

The UK Defence Club is looking for a 5% upwards premium adjustment, subject to record, for the 2026-27 year.

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Britannia 2026 Requirements

For the upcoming renewal, Britannia plans to continue its policy of avoiding general increases but has kept its “targeted improvement in premium adequacy” policy, which calls for target increases of 5% for both P&I and FD&D entries.

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Japan Club 2026 Requirements

The Japan Club has announced its renewal plans for the 2026-27 policy year, with requirements including a slightly below-average 5% general increase for the owners' and charterers’ P&I classes.

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The Swedish Club 2026 Requirements

The Swedish Club has advised its general increases proposed for the 2026-27 policy year. The Club is seeking a 5.0% general increase for both the P&I and FD&D classes.

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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.

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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.

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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

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.

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