The Swedish Club has improved its underwriting performance significantly in the first half of this year.

The marine insurance mutual reported a combined ratio of 92% in the six months to the end of June 2022, compared to 132% in the same period last year.

A combined ratio under 100% indicates an underwriting profit.

Managing director Lars Rhodin, who is to retire at the end of this year, said premium adequacy had improved after a 12.5%