Financial

The Club’s published Reports and Accounts and other financial information can be viewed or downloaded from this website. The Accounts for 20 February 2017 have been published and the key figures are set out below.

At 20 February 2017, the Club’s overall financial position has strengthened again, mainly as a result of another year of positive claims figures. The free reserve has increased by 11% to $306.5 million.

Calls and Release percentage figures are also set out below.

West of England is rated A- by both Standard & Poor’s and A.M. Best.

 

Highlights Charts 2017

 

Class 1 Owners by policy year 2013 2014 2015 2016 2017
Gross Tonnage (pro rata - millions) 53.7 59.2 68.4 73.5 80.5
Number of vessels

2,863

2,890 3,046 3,142 3,315

 

Policy Year Additional and Release Call Information

At the Club’s Board Meeting of 24 May 2017, the 2014 Policy Year for Class 1 and the 2012 and 2013 Policy Years for Class 2 were closed. The position regarding additional call and release call percentages for the five most recent years is shown below.

The percentage stated for each Policy Year for each Class of Business is calculated as a percentage of the advance call. For Class 1, the advance call is the net advance call excluding any charge for International Group reinsurance cost.

For comparative purposes, the current release calls for each Class of Business are also shown as a percentage of estimated total mutual call ('ETC').

Class 1 P&I 

Policy Year 2013 2014 2015 2016 2017
Additional Calls
35%
charged
Aug 2014
35%
charged
Aug 2015
35%
charged
Aug 2016
35%
charged
Aug 2017
35%
due
Aug 2018
Release Calls as a percentage of Advance Call
Original Release
Revision at 6 months
Revision at 12 months
Revision at 18 months
Revision at 24 months
Revision at 30 months
30%
30%
15%
15%
5%
5%
30%
30%
10%
10%
0%
0%
25%
20%
10%
10%
0%

20%
20%
10%



20%





Current Release 0% 0% 0% 10% 20%
Current Release as a % of  ETC 0% 0% 0% 7.4% 14.8%
Policy Year Status Closed Closed Open Open Open

 

Class 2 F,D&D

Policy Year 2013 2014 2015 2016 2017
Additional Calls
35%
charged
Aug 2014
35%
charged
Aug 2015
35%
charged
Aug 2016
35%
charged
Aug 2017
35%
due
Aug 2018
Release Calls as a percentage of Advance Call
Original Release
Revision at 12 months
Revision at 24 months
30%
15%
5%
30%
10%
0%
25%
10%
0%

20%
10%

20%


Current Release 0% 0% 0% 10% 20%
Current Release as a % of  ETC 0% 0% 0% 7.4% 14.8%
Policy Year Status Closed Open Open Open Open

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