Steamship Mutual combined ratio hits 116% as club stays silent on bottom line
P&I club Steamship Mutual sees its combined ratio rise to 116%, and has yet to declare whether it made a profit or loss in the 2018-19 financial year
Several factors contributed to the high combined ratio, including higher 2018-19 policy year claims than originally projected and lower levels of reserve releases, says a statement from the International Group affiliate
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