American Club Reports Positive Progress with 2026 P&I Renewal

The American Club has reported positive developments for the 2026 renewal across all lines of business. Gross tonnage for the Club’s Class I (mutual P&I) entries increased modestly at the turn of the renewal at Noon GMT 20 February 2026, while the tonnage position since the 2025 renewal has increased by 5% and over the same period, Class I premiums have grown by 6%. The Club’s Class II (mutual FD&D) and Class III (charterers’ liability) portfolio were renewed for 2026 on a similar basis.

Eagle Ocean Marine, the Club’s fixed premium facility, which serves the operators of smaller vessels in domestic and regional trade, continues to benefit the Club as it carries an overall historical net loss ratio of 80%. The 2024/25 facility year and the current 2025/26 facility year, while still in active periods of development as the facility year runs to July of each year, are each currently tracking better than all preceding years, which follows portfolio management refinement undertaken in 2022/23.

Through a combined approach of premium rate change in tandem with adjustments to underlying conditions of cover, the Club achieved its goals for the 2026 renewal. Encouragingly, the Club had a 97% retention rate at the renewal, the highest level in several years, reflecting Members’ satisfaction, loyalty and trust. Direct claims exposure is tracking within budget, with pool contributions emerging at lower levels than in 2024. Investment performance has been positive with 2025 reflecting an overall return of 8.7%. 

With these developments, the Club embarks on the 2026 policy year in a solid position and is poised to continue the positive track with a projected total premium income for all classes of business, including Eagle Ocean Marine, of $145 million.