West of England combined ratio comes in at 114%
West of England P&I Club made a hefty underwriting loss for 2018-19, confirming a combined ratio of 114% in a financial highlights statement on its website, which omits mention of overall surplus or deficit. The outcome is blamed on an adverse large claims experience for the second year in succession
‘The club remains cautious in its expectations of claims developments and has increased its reserving strength on the balance sheet,’ says marine mutual
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