The club which is one of the smaller of the International Group mutuals and focuses on smaller vessels rang up a $40.9m surplus last year.
The result means the Shipowners’ Club has turned in a financial performance second only to Gard which is both a P&I club and a leading insurer of ships hulls and offshore energy risks.
The profit of the Shipowners’ Club is about twice what the Standard & Poor’s rating agency predicted towards the end of 2012.
The
