Technical Feature - P&I Clubs: American Club Cautiously Optimistic About the Future
Source: Asia Insurance Review | Jan 2009
Committed to increasing the levels of capital adequacy and bolstered by good underwriting performances, the American Club is confident of its capital and surplus requirements even in these tough times. Mr Joe Hughes, Chairman and CEO, Shipowners Claims Bureau, managers for the American Club, said that the plan is to call an increase of 7.5% for the 2009 policy year and if needed, a further 20% by way of a forecast supplementary call in the future. Here, he tells Asia Insurance Review the optimism he has despite the avalanche of bad news in the industry.
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