The London P&I Club has concluded the 2026 renewal season with a positive outcome, reflecting sustainable growth supported by underwriting discipline, portfolio quality and service-led relationships with members and assureds.
The Club recorded year-on-year growth of 14.5% in mutual tonnage, increasing entered tonnage to 56.7m GT and achieving its targeted premium increase for renewing business. These results were achieved alongside solid financial performance, emphasising premium adequacy and prudent risk selection.
The renewal success was driven primarily by organic development within the existing membership, with Members and Assureds adding significant tonnage during the policy year. The Club also welcomed several new Members, strengthening its presence in established markets while maintaining high retention rates.
London P&I Club Chief Underwriting Officer Reto Toggwiler said, “The London Club is pleased to report another positive renewal, which indicates a clear vote of confidence in the Club. The strength of our renewal reinforces the importance Members, Assureds and their Brokers place on the quality of service we provide.”
The 2026 renewal coincides with a planned leadership transition. Mr John Lyras stepped down as Chairman on 20 February 2026, after 45 years of service, including 30 years as Chairman. Vassilis J. Laliotis of J. Laliotis Maritime Group has been appointed Chairman, having served as Vice-Chairman for the past eight years.
London P&I Club has offices in London, Hong Kong, Piraeus, Shanghai and Limassol; in Seoul, it cooperates on a range of P&I activities with AB Korea Co.