The Japan P&I Club is to embark on a financial stability plan to maintain its free reserves at ¥25bn ($180.6m) in response to a recent ratings downgrade.

Last year S&P Global Ratings downgraded the Japan Club to BBB with a stable outlook after its free reserves dropped following a difficult claims year.

North P&I Club seeks to counter turbulent times with a 10% rate hike
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The International Group of P&I Clubs requires a minimum BBB- rating for membership.