West of England
West of England Ship Owners Mutual Insurance Association (Luxembourg) Tower Bridge Court
One Creechurch Place, Creechurch Lane, London, EC3A 5AF
westpandi.com t +44 (0)20 7716 6000
Managers: Self-Managed
Entered GT by vessel type
| 2019 |
2018 |
2017 |
| 3,750 |
3,668 |
3,396 |
| 2019 |
2018 |
2017 |
| 93,100,000 |
90,500,000 |
83,700,000 |
| 2019 |
2018 |
2017 |
| 43,000,000 |
42,600,000 |
32,000,000 |
Entered GT by region
Income Statement (year ending - 20th February) USD 000s
| |
2019 |
2018 |
| Income |
Calls and premiums |
219,726 |
213,797 |
| Excess Calls |
0 |
0 |
| Reinsurance Premiums |
-38,646 |
-37,496 |
| Total Income |
181,080 |
176,301 |
| Expenditure |
Net claims incurred |
-169,668 |
-169,143 |
| Net operating expenses |
-37,438 |
-35,392 |
| Total expenditure |
-207,106 |
-204,535 |
| Underwriting result pre investment/other financial income and tax |
-26,026 |
-28,234 |
| Investment/other financial income |
27,117 |
31,465 |
| Tax/interest charged |
-3,251 |
-1,210 |
| Overall result |
-2,160 |
2,021 |
| Free reserves |
306,373 |
308,533 |
Breakdown of investment by type
| S&P Rating |
Current Rating |
2018 |
| Rating |
A- |
A- |
| Outlook |
Stable |
Stable |
| Type of rating |
Interactive |
Interactive |
| Policy Year |
2010 |
2011 |
2012 |
2013 |
2014 |
2015 |
2016 |
2017 |
2018 |
2019 |
| General Increase % |
5 |
5 |
5 |
7.5 |
7.5 |
2.5 |
0 |
0 |
0 |
5 |
| Supplementary Call Record % |
30/30 |
30/30 |
30/30 |
35/35 |
35/35 |
35/35 |
35/35 |
35/35 |
0/0 |
0/0 |
Release Call Percentage - as at February 2019
| 2016 |
2017 |
2018 |
2019 |
| 0% |
0% |
7.5% |
15% |