The London P&I Club reports positive 2026 renewals, underpinned by
disciplined underwriting and strong Member support
The London P&I Club has concluded the 2026 renewal season with another
positive outcome, reflecting a continued focus on sustainable growth,
underpinned by underwriting discipline, portfolio quality and personal
service-led relationships with Members and Assureds.
The Club recorded year-on-year growth of 14.5% in mutual tonnage,
increasing entered tonnage to 56.7 million gt and obtaining its targeted
premium increase for renewing business. These outcomes were achieved
against a backdrop of continued solid financial performance, with
emphasis on premium adequacy and prudent risk selection.
The renewal result was driven primarily by organic development within
the existing membership, with Members and Assureds adding significant
tonnage during the policy year, reflecting a true vote of confidence in
what the London Club has to offer. The Club also welcomed several new
Members, strengthening its presence in established markets while also
enjoying very high levels of retention.
Importantly, the Club’s growth reflects deliberate and selective
underwriting decisions. Commitments of additional tonnage upon delivery
further demonstrate Member and Assured’s confidence in the Club’s
long-term strategy and financial stewardship.
Reto Toggwiler, Chief Underwriting Officer at the London P&I Club, said:
“The London Club is pleased to report another positive renewal which
has once again indicated a clear vote of confidence in the Club. The
strength of our renewal reinforces the importance Members, Assureds and
their Brokers place on the quality of service we provide.”
“While we are pleased to see continued growth, our primary focus
remains on building a resilient and balanced membership that aims to
deliver consistent results for the Club through strong underwriting
discipline, financial responsibility and close, personal engagement with
each Member’s and Assured’s business. Growth is a consequence of
this approach, not the objective in itself.”
_“As always, the London Club is grateful for the continued support of
its Members, Assureds and their Brokers and remains committed to
providing the highest levels of personal, reliable and quality service.
We look forward to working closely with our Members and Assureds to
support their needs and unlock opportunities in an ever-evolving and
challenging industry,” _he added.
The Club’s 2026 renewal also coincides with a planned leadership
transition at Board level. Mr John Lyras stepped down as Chairman on 20
February 2026 following 45 years of distinguished service to the Club,
the last 30 years of which were as Chairman. Vassilis J. Laliotis of J.
Laliotis Maritime Group has been appointed Chairman, having served as
Vice-Chairman for the past eight years.
Insuring a diverse international Membership of shipowners and
charterers, The London P&I Club provides Protection & Indemnity, FD&D,
War Risks and related covers and is a member of the International Group
of P&I Clubs.
Club
Insuring a diverse range of shipowners and charterers, The London P&I
Club is one of the world’s leading Protection and Indemnity
Associations, providing P&I, FD&D, War Risks and other covers to our
international membership. From tailored solutions to flexible insurance
packages – all of our work is directed at meeting our members’
specific needs.
We are proud of our position within the International Group of P&I
Clubs, where we play a key role in coordinating and promoting the
collective, global strength of the P&I industry on behalf of the
world’s shipowning community.
At the London P&I Club, we are committed to providing the best possible
service to our members. High quality, responsive support is fundamental
to the way we work. The interests of our members are protected by a
specialised team with a world-wide reach, including experienced lawyers,
former mariners and insurance professionals. The day-to-day operation of
the Club is performed by our managers, A Bilbrough & Co Ltd.
We have offices in London, Hong Kong, Piraeus, Shanghai and Limassol; in
Seoul we co-operate on a range of P&I activities with AB Korea Co., Ltd
– and we have a global network of correspondents, lawyers and surveyors,
all of which ensures our provision of a high calibre 24-hour service to
our members, wherever they are based.
