2021 FINANCIAL STATEMENTS – BRITANNIA P&I ANNOUNCES SATISFACTORY RESULTS

Key points

  • Overall surplus after tax of USD37.0m
  • Strong investment return of USD59.0m, equivalent to 7.2%
  • Negative underwriting result with net claims significantly in excess of net premiums
  • Increase in free reserves of USD27.0m
  • USD10.0m capital distribution in October 2020
  • Strong 2021/22 renewal with growth rate target attained and increases in owned and chartered tonnage
  • Part VII Transfer at 20 February moved the majority of the historic book from the UK to Luxembourg
  • In March 2021 S&P affirmed the rating of A (Strong) with a Stable outlook for the reorganised and redomiciled Group
  • Britannia’s robust operating model has maintained service standards to Members despite widespread remote working

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Ocean Technologies Group adds Virtual Classroom to the growing list of features available on its best-in-class learning platform

Ocean Technologies Group has integrated Virtual Classroom to its ground-breaking Ocean Learning Platform. Virtual Classroom is a collaboration tool that bridges the gap between learning conducted in training centres and that carried out remotely. Supporting a wide range of learning pathways, Virtual Classroom connects crew, expert educators, and crewing teams in a single platform; ensuring that a consistent training record and first-class learning experiences are available anywhere in the world.

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Welcome to the IBJ e-Newsletter

The IBJ e-newsletter is aimed specifically at the dry bulk cargo handling and shipping industry. It delivers regularly updated news on the bulk industry worldwide.

The newsletter includes the latest developments in bulk ports and logistics, shipping, equipment and commodities and is a must read source of news for busy executives in this important global sector.

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Brunswick enters electric propulsion segment | Finnish market takes off | Survitec acquires PPE firm

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Market Intelligence

Finnish market takes off; April sees boat registrations rocket

IBI , by Ed Slack

Helsinki Boat Afloat Show already more than 90% sold out four months early

http://www.hpwatermaker.it/en/hpinterface.php

Mergers & Acquisitions

Survitec acquires Norwegian PPE firm

Hansen Protection is a leading European provider of personal protective equipment

https://marinaibiza.com/en/

Superyacht Builders

Baltic Yachts wins third order for electric-propelled superyacht

By David Robinson

New order for a 110ft sloop reflects growing environmental concerns

Mergers & Acquisitions

Canadian marina company acquires three new properties

IBI , by Craig Ritchie

Maple Leaf Marinas grows to 11 facilities with latest acquisitions

Boat Launches

Sunseeker to have two global premieres at Palma

Sunseeker Mallorca, part of the Sunseeker London Group, has announced its full line-up of motoryachts on display at the upcoming Palma …

Events

1st online Sri Lankan boating conference deemed a success

IBI , by Mike Derrett

The Sri Lanka Government State Ministry for the development of the boating industry, established in 2020, makes progress

Companies

Scanstrut obtains ISO 9001 certification

Scanstrut, the UK manufacturer of installation solutions for marine electronics, has been awarded ISO 9001:2015 certification.

Product Launches

Garmin unveils latest marine satellite compass

The MSC 10 GPS-based navigation tool comes with multi-band GNSS

New wake tower housing from Polk Ultramarine

The UMS77WTS has four possible mounting options