News 17 May, 2022

Financial Update - Position strengthened through successful renewal strategy

West has announced its financial results for 2021. 

Thanks to the successful implementation of a planned renewal strategy built around necessary premium increases and selective de-risking, West is in a strong position to meet future challenges.

Here our Group CEO, Tom Bowsher discusses our results and renewal in more detail. 

Financial Overview

The Report and Accounts for the year ending 20 February 2022 for The West of England Ship Owners Mutual Insurance Association (Luxembourg) were approved, on 11 May 2022, by the Board who are pleased to report that, despite another year of challenging operating conditions, the Club’s technical performance materially improved and the capital position remains strong.

Here we have highlighted all of the key results and performance factors including;

  • Operating performance
  • Investment performance
  • Financial and rating strength
  • Renewals
  • YOY comparisons, inc. pool position