The London Steam Ship Owners’ Mutual Insurance Association has met a number of its key targets in underwriting, free reserves and tonnage, according to its annual report for 2016.
It reported a second year of underwriting profitability, helping to shake off a legacy of poor technical performance compared with other International Group protection-and-indemnity (P&I) clubs.
Chairman John M Lyras acknowledges that a benign claims environment has contributed but also suggests a controlled adjustment to the underwriting strategy is bearing fruit.
