$5.94B
Total Reserves
1.44B GT
Total Tonnage
120%
Avg Combined Ratio

P&I Club Comparison — 2026/27 Renewal

* Combined Ratio figures are for Policy Year 2024-25. Tonnage figures are Owned GT for 2025-26.

Combined Ratio by Club (PY 2024-25)

Free Reserves ($M)

Target Increase 2026/27 (%)

Market Share by Tonnage

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Adam

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Gard vs Skuld Best combined ratio? IG reinsurance 2026/27 increases

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