The Swedish Club delivers strong results for 2025
The Swedish Club reported a solid financial performance for 2025, supported by disciplined underwriting, risk management and capital management. This marks the third consecutive year of positive results, reflecting a consistent, long-term approach in an increasingly complex operating environment.
The Club recorded an operating result of $48 million, including a $5 million underwriting result (97% combined ratio) and a $43 million financial result. Free reserves increased to $270 million (2024: $216 million), while the solvency ratio rose to 205% (2024: 186%), supporting continued stability in service and decision-making.
These results reflect a continued focus on capital discipline and operational consistency, contributing to resilience over time.
“Capital discipline underpins confidence that the Club remains dependable, particularly in more challenging conditions,” said Thomas Nordberg, CEO, The Swedish Club. “As trading patterns shift and operational demands evolve, members need continuity and clarity. A strong capital position enables us to respond consistently and support members when it matters most.”
The Club notes that geopolitical developments, regulatory change and shifting trade dynamics are contributing to a more complex global shipping environment, increasing the importance of strong fundamentals across underwriting, claims and loss prevention.
“As a mutual insurer, our focus is on long-term stability and delivering consistent value to members,” added Mr Nordberg. “Maintaining strong foundations allows us to navigate uncertainty and continue providing reliable support.”
The Club will continue to prioritise member-focused service and initiatives that support risk management and operational performance.
Source: The Swedish Club delivers strong results for 2025
P&I Insurance: Policy years 2023/24, 2024/25, 2025/26 and 2026/27 – Supplementary and Release Calls
At the Board meeting held digitally on March 26, 2026, the Board of Directors made the following decisions in respect of the open policy years:
2023/2024
To close the policy year with no supplementary call.
2024/2025
To amend the release call for this year to 5%.
2025/2026
To keep the release call for this policy year at 15%.
2026/2027
To maintain the target set at the renewal for 2026/2027, which was to achieve a 0% supplementary call. To keep the release call for this policy year at 15%.
The Club has considered objective actuarial information regarding various risks including premium risk, reserve risk and market risk both in ascertaining the level of the release call percentage and also for assessing the risk that the published level of the expected premium may be exceeded.
Release calls have developed as follows:
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | |
| 2020/2021 | Close | 15% | 15% | |||
| 2021/2022 | Close | 0% | 15% | 15% | 15% | |
| 2022/2023 | Close | 5% | 15% | 15% | ||
| 2023/2024 | Close | 5% | 15% | 15% | ||
| 2024/2025 | 5% | 15% | 15% | |||
| 2025/2026 | 15% | 15% | ||||
| 2026/2027 | 15% |
FD&D Insurance: Policy years 2023/24, 2024/25,2025/26 and 2026/27 – Supplementary and Release Calls
At the Board meeting held digitally on March 26, 2026, the Board of Directors made the following decisions in respect of the open policy years:
2023/2024
To close the policy year with no supplementary call.
2024/2025
To keep the release call at 5%.
2025/2026
To keep the release call at 5%.
2026/2027
To keep the release call at 5%.
Release calls have developed as follows:
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | |
| 2020/2021 | Close | 0% | 0% | |||
| 2021/2022 | Close | 0% | 5% | 5% | 5% | |
| 2022/2023 | Close | 5% | 5% | 5% | ||
| 2023/2024 | Close | 5% | 5% | 5% | ||
| 2024/2025 | 5% | 5% | 5% | |||
| 2025/2026 | 5% | 5% | ||||
| 2026/27 | 5% |
