The TT Club, which has many liner shipping companies, ports and freight forwarders as members, made an underwriting surplus, with an improved combined ratio of 96.3%, as well as a modest investment return of 1.5%.
Gross premiums advanced marginally to $182.3m, a $600,000 increase on the previous year.
The free reserve of $149.7m includes a subordinated loan of $30m taken out in 2006, that qualifies as hybrid capital.
The
