Insurance Firm Reports Strong Year

A marine insurance company has reported an operating result of US24.6m supported by strong investment income in 2019.

The Swedish Club said investment alone generated a return just short of 10%. Free reserves stood at US228m at the end of the accounting year.

Lars Rhodin, managing director of The Swedish Club, said: “We are committed to developing business opportunities and to enhance the benefits to our members of our unique All-in-one offering and its added value – in claims management as well as Loss Prevention advice for members.

“We have continued to advance during 2019; delivering one of the strongest solvency ratios in Marine and P&I and, undertaking successful trials of our unique and innovative Trade Enabling Loss Prevention tool (TELP), which allows members to receive on the spot, individualised loss prevention advice.”

The Swedish Club said with a strong focus on underwriting, the year finished with a combined ratio of 106%.

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