LEADERSHIP IN ACTION — REVIEW OF THE YEAR 2015

Leadership in Action - 2015 Review. The content of the present formal publication has actually been intended to let the interested readers be in the loop with the major happenings that took place in 2015. The document starts with the introductory article followed by the description of the general financial picture of subject year and statement by the Chairman.

Then there are critically important financial highlights plus the information related to the underwriting discipline. The other parts of the document cover the fleet profile and claims, major shipping industry issues, reinsurance and risk management, investments and capital management, insurance regulation and the governance. The so-called investment portfolio of the Club members produced a healthy five percent return.

The surplus increased the total volume of the free reserves to approximately half-billion US dollars with a further nearly hundred million being held in a form of the hybrid capital. The amount of business is constantly growing and the financial strength of the Club is providing a good basis for the confidence which the shipping market has in the Club. Please note that the underwriting discipline continues to be considered paramount in determination for the due protection of the Club in both long- and medium terms...