Another spectacular profit has been reported by the Steamship Mutual Underwriting Association with a small investment loss making barely a dent in a strong underwriting performance.
The Steamship Mutual protection-and-indemnity club is reporting a $64.1m surplus for the year to the February renewal that lifts its free reserve above $440m.
The result is almost as good as the previous year when Steamship Mutual reported a $75m best in market surplus.
The good news for Steamship Mutual members is that the club’s shipowner directors have agreed to consider a possible return of premium when they meet in October.
The
