United Kingdom
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Steamship Mutual

The Steamship Mutual Underwriting Association (Bermuda) Limited
Aquatical House, 39 Bell Lane, London E1 7LU, UK
simsl.com t +44 (0)20 7247 5490

Entered GT by vessel type

Entered GT by vessel type
Number of ships (owned entries only)
2017 2016 2015
- 8,310 8,798
Total owned entered GT
2017 2016 2015
84,600,000 77,800,000 74,300,000
Total chartered GT
2017 2016 2015
67,000,000 51,000,000 46,000,000

Entered GT by region

Entered GT by region

Income Statement (year ending - 20th February) USD 000s

  2017 2016
Income Calls and premiums 331,422 350,329
Excess Calls -25,780 0
Reinsurance Premiums -56,033 -64,830
Total Income 249,609 285,499
Expenditure Net claims incurred 168,455 167,930
Net operating expenses 39,219 41,397
Total expenditure 207,674 209,327
Underwriting result pre investment/other financial income and tax 41,935 76,172
Investment/other financial income 28,111 -12,013
Tax/interest charged -77 -25
Overall result 69,969 64,134
Free reserves 510,290 440,321

Breakdown of investment by type

Breakdown of investment by type
S&P Rating Current Rating 2016
Rating A A-
Outlook Stable Positive
Type of rating Interactive Interactive
Policy Year 2010 2011 2012 2013 2014 2015 2016 2017 2018
General Increase % 5 0 5 7.5 10 0 0 0 0
Supplementary Call Record % 0/0 0/0 0/0 0/0 0/-10 0/-10 0/0 0/0 0/0

Release Call Percentage

2015 2016 2017 2018
0% 2.5% 12.5% 12.5%