West P&I has completed what it describes as a “stable and disciplined” February renewal, securing very high member retention while expanding across mutual, fixed and specialty marine lines.
The club said it has continued to grow entered tonnage across all classes through the selective acquisition of new business from both existing members and new entrants. That mirrors recent renewal patterns across the International Group (IG) market, where clubs have been seeking to rebalance books after several years of elevated large‑loss activity and rising reinsurance costs.
The renewal took place against a backdrop of heightened geopolitical risk, regulatory complexity and volatility across global shipping.
In key trading regions, war‑risk and hull pricing remain elevated as underwriters continue to reassess exposures linked to conflict zones, sanctions regimes and changing trade routes. Market commentary suggests that mutual P&I combined ratios have been under pressure in recent years as incurred claims and reinsurance costs have risen, prompting most clubs to seek rate and deductible increases to restore technical balance.
Within that context, West has suggested that top‑line growth is being pursued without relaxing underwriting standards.
Despite the challenging environment, West reported that, for the fourth consecutive year, it has seen strong backing from its existing membership, with retention above 99.5% and what it described as “strong organic growth” at renewal and throughout the 2025/26 policy year.
Several new members joined on Feb. 20, 2026, with the club maintaining a selective approach to new business across regions and sectors. As a result, total mutual tonnage has risen by approximately 12.5% to 121 million gross tonnes, and gross written premiums are forecast to exceed US$430 million in 2026/27. That trajectory reflects a combination of rate strengthening and portfolio expansion that is broadly in line with wider P&I market trends.
West also reported positive development across its fixed and charterers books over the last 12 months, with high retention in both classes. The club linked this to service delivery across underwriting, claims and loss prevention. It said the broader reach it now enjoys is already benefitting members, citing controlled growth from both existing members and fleets that were not previously entered in its hull, war, loss of hire and delay products, with each of these lines said to be contributing positively to the club’s overall technical performance.
Bart Mertens (pictured), chief underwriting officer of West, expressed his gratitude for the continued confidence of their members and brokers.
"In a demanding environment for shipowners, these results reflect the discipline of our underwriting approach and the ongoing support of our members and brokers," he said.
West enters the 2026/27 policy year with what it describes as a well‑diversified portfolio, a robust capital position and a continued focus on sustainable underwriting performance, claims management and loss prevention. The club operates within the International Group pooling and reinsurance framework, under which the member clubs collectively insure the vast majority of the world’s ocean‑going tonnage and purchase a common excess of loss reinsurance programme. A series of costly casualties in recent years has contributed to higher reinsurance pricing and tighter terms, costs that have increasingly been reflected in P&I renewals.
Alongside its core mutual offering, West also provides a range of additional products and services, including through its wholly owned subsidiary Nordic, giving it broader access to specialist marine segments and regional markets. The club has said it remains committed to supporting members through evolving operational and geopolitical risks, while maintaining a measured approach to growth and long‑term financial stability.
