A strong hint that further capital distributions can be expected from the Britannia Steam Ship Insurance Association has come from the Standard & Poor’s (S&P) ratings agency.

Following a $20m distribution to members in the spring, S&P is projecting that the Britannia Club will be making further payouts annually over the next three years.

S&P has privileged access to the Britannia Club financial figures and strategy as part of the interactive rating process, so has an inside track on what is likely to happen at the protection-and-indemnity mutual.