• Strong investment return of USD59.0m, equivalent to 7.2%
• Negative underwriting result with net claims significantly in excess of net premiums
• Increase in free reserves of USD27.0m
• USD10.0m capital distribution in October 2020
• Strong 2021/22 renewal with growth rate target attained and increases in owned and chartered tonnage
• Part VII Transfer at 20 February moved the majority of the historic book from the UK to Luxembourg
• In March 2021 S&P affirmed the rating of A (Strong) with a Stable outlook for the reorganised and redomiciled Group
• Britannia’s robust operating model has maintained service standards to Members despite widespread remote working
FINANCIAL OVERVIEW
Britannia P&I appoints general manager for B Korea
Britannia P&I has appointed Kate Kim as B Korea’s General Manager. She will take up her position on 1 May 2021 where her key focus will be to build and further strengthen relationships with Members and provide them with tailored, high quality services.
Kate’s previous experience includes 16 years working with a leading insurance broker, where she dealt with a wide variety of marine insurance. She has extensive knowledge of P&I claims and will use this expertise at B Korea to further enhance the service provided to Britannia P&I’s Members.
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