The International Group Pooling and GXL Reinsurance 2023/24
Further to the finalization of the renewal arrangements for the International Group’s General Excess of Loss Reinsurance Contract (GXL) and Hydra reinsurance program for the forthcoming 2023-24 policy year, please see below rates that will apply per vessel type:
| Vessel Category | 2022/23 ETC Rate $/gt |
2023/24 ETC Rate $/gt |
Adj in ETC rate $/gt | % change from 2022 |
| Persistent oil tanker | 0,6469 | 0,6663 | 0,0194 | 3,0% |
| Clean tankers | 0,3666 | 0,4051 | 0,0385 | 10,5% |
| Dry cargo vessels | 0,5639 | 0,5991 | 0,0352 | 6,2% |
| FCC (fully cellular container vessels) |
0,6586 | 0,7277 | 0,0691 | 10,5% |
| Passenger | 3,8677 | 3,8677 | – | – |
The average rate rise for Shipowners is 5.8%.
For more information please see the Circular released by the IG Group:
