During the Annual General Meeting held on 27th May 2022, the Club’s Directors approved North’s financial statements for the financial year that ended on 20th February 2022.
The club remains financially strong and has reported a premium growth of 5.6% mainly attributed to the vigorous performance across all lines, and especially North H&M and Sunderland Marine fixed premium businesses. On the other hand, this year the investment results deteriorated substantially resulting in a loss of USD19.8mio.
The combined ratio has improved to 107.4% (from 113.7% the previous year) despite the significant pool claim losses within the IG and a high level of COVID claims.
The full Annual Review is available to view and download here below:[ North – Annual Review 2022 ]
The Directors also reviewed the Release Calls for the P&I and FD&D Classes, which are detailed here below:
|POLICY YEAR||P&I CLASS||FD&D CLASS|