The American Club insurance mutual reported greater losses for 2021 as it faced rising claims despite growth in premium income and investments.

The US-based protection and indemnity club reported a net loss of nearly $6.67m, deeper than the $4.98m in red ink in 2020.

The insurer’s comprehensive loss, which included unrealised losses on investments and adjustments for realised capital gains, amounted to $8.33m. That was down from a loss of $3.75m