United Kingdom
P&I Portal

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

Managers: Steamship P&I Management LLP

Entered GT by vessel type

Entered GT by vessel type
Number of ships (owned entries only)
2018 2017 2016
9,135 9,334 8,310
Total owned entered GT
2018 2017 2016
85,000,000 84,600,000 77,800,000
Total chartered GT
2018 2017 2016
74,000,000 67,000,000 51,000,000

Entered GT by region

Entered GT by region

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

  2018 2017
Income Calls and premiums 320,906 331,422
Excess Calls -25,588 -25,780
Reinsurance Premiums -52,089 -56,033
Total Income 243,229 249,609
Expenditure Net claims incurred 241,369 168,455
Net operating expenses 40,570 39,219
Total expenditure 281,939 207,674
Underwriting result pre investment/other financial income and tax -38,710 41,935
Investment/other financial income 44,613 28,111
Tax/interest charged -225 -77
Overall result 5,678 69,969
Free reserves 515,968 510,290

Breakdown of investment by type

Breakdown of investment by type
S&P Rating Current Rating 2017
Rating A A
Outlook Stable Positive
Type of rating Full Interactive Full 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 - as at June 2018

2015 2016 2017 2018
Closed 0% 2.5% 12.5%