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P&I club renewal 2025

Our annual P&I club renewal updates provide information on P&I club renewal policies, supplementary call history, general increase history, International Group reinsurance rates, and P&I release calls.

01/16/2025

Our annual P&I club renewal updates provide information on P&I club renewal policies, supplementary call history, general increase history, International Group reinsurance rates, and P&I release calls.

P&I club renewal 2025

General increase update

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P&I Renewal Tracker

General increase Percentage general increase P&I Percentage general increase FD&D* Capital return to members Deductible changes Comments Link to P&I club announcement
American YES 7% 7% NO All deductibles of $50,000 or less to be increased by 10% subject to a minimum increase of $2,500. In addition, all members’ premium rates and terms of entry for 2025 will be assessed individually with further adjustments made as necessary. American P&I Club 2025/26 Renewal
Britannia NO 0% 0% YES Minimum P&I deductibles increased to: Crew $10,000. Cargo $22,500. All Other Claims $15,000.

FD&D deductible revised to members bearing one-third of the total costs from ground up to policy limit.

 Targeted minimum increase of 7.5% on expiring P&I ETC rates and an additional 2.5% from remedial action such as deductible increases.

A capital distribution of $30 million will be paid on renewing vessels which equates to approximately 12% of Gross ETC. This will be offset against the first instalment of the 2025/26 policy year.

FDD rates will be adjusted to reflect members claim records.

 Britannia P&I Club 2025/26 Renewal

Britannia Renewal Summary 2025/26
Gard NO 0% 0% YES No mandatory increase notified, but deductibles expected to be reviewed depending on risk and record. Gard will levy an average 4 per cent premium increase on ETC for the 2025 renewal and provide a 10 per cent owners’ general discount (OGD) on an ETC basis for vessels renewed by members with Gard for the 2025 policy year. Gard P&I Club 2025/26 Renewal
Japan YES 7% 0% NO Deductibles will be reviewed depending on risk and record. A 7% increase in mutual premium rates has been requested with individual claims records to be adjusted further as appropriate. Japan P&I Club 2025/26 Renewal
London NO 0% 0% NO Deductibles will be reviewed depending on risk and record. While no general increase has been set, an overall increase of 5% in average rates is being targeted for P&I and FD&D, with further adjustments based on individual member loss records and risk profiles. London P&I Club 2025/26 Renewal
NorthStandard YES 5% 5% NO All P&I deductibles below $30,000 will be increased by a minimum of $1,000. Members with adverse loss records will have their rates and terms adjusted in excess of minimum requirements. Release calls will be updated following a further board meeting in January / early February and a further circular will be issued thereafter. NorthStandard P&I Club 2025/26 Renewal
Shipowners’ YES 0% 0% NO Deductibles will be reviewed depending on risk and record. While no general increase has been set, SOP will review individual records and operational risks and apply adjustments accordingly. Any change in reinsurance costs will be absorbed by the Club. Shipowners P&I Club 2025/26 Renewal
Skuld NO 0% 0% YES No mandatory increase notified, but deductibles expected to be reviewed depending on risk and record. Skuld’s Board continues to support the strategy of individual rate adjustments based on performance without a general increase and has set a target of an overall adjustment of 5% of the ETC.

Skuld will give members’ who had vessels entered during the 2023 policy year a 5% credit on their mutual P&I premium, subject to those vessels renewing with Skuld for the 2025/26 policy year. See the link for the FAQ.

 Skuld 2025/26 Renewal

FAQ - 5% Mutual Members P&I Credit - Skuld
Steamship YES 5% 5% YES No mandatory increase notified, but deductibles expected to be reviewed depending on risk and record. Subject to regulatory approval there will be a capital distribution to members whose entries are renewed for the 2025/26 policy year equivalent to 12.5% of the 2024/25 policy year mutual P&I premium. Steamship Mutual P&I Club 2025/26 Renewal
Swedish YES 5% 5% NO Adjustment on the below deductibles of +10% (minimum +10% or $1,000). Cargo up to $15,000. Crew up to $10,000. Third Party up to $25,000. The general increase and adjustments for records relevant to policy year 2025/2026 will be applied to the net premium applicable for policy year 2024/2025 (gross premium less commission if applicable). Swedish P&I Club 2025/26 Renewal

Swedish FDD Club 2025/26 Renewal
UK YES 6.5% N/A NO An increase in all deductibles (up to $50,000) of 10% (with a minimum increase of $1,000). Factors to determine the general increase are the Club’s recent performance and projected pool losses alongside expected levels of inflation. UK P&I Club 2025/26 Renewal
UK Defence Club YES N/A 5% YES No deductible increases. Members renewing into the 2025 policy year will be eligible for a 10% capital distribution. Members who enter their full fleet will receive an additional 5% credit, making 15% in total. UK Defence 2025/26 Renewal
West of England YES 5% 0% NO No mandatory increase notified, but deductibles expected to be reviewed depending on risk and record. Despite the Club’s strengthened capital position, the West of England board advised that premium is insufficient to meet expected future claims and operating costs as inflationary pressures continue. West of England 2025/26 Renewal
Source: Marsh Specialty
* FD&D is freight, demurrage and defence

To discuss further details of a club’s policy, or other P&I club issues, please contact your Marsh Specialty advisor.

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