Swedish Club

S&P Rating: A- (Stable)

Combined Net Ratio	120%	Investment Return	%	Entered Tonnage	88m GT
Underwriting Result	-USD 26m	Overall Result	USD 5m	Free Reserves	USD 231m

Vessel Type

Tonnage Trading Area

Financials (USD)	2020 (m)		2021 (m)
Gross Premium	157		174
Reinsurance Premium	(39)		(39)
Net Premium		118		135
Claims	(102)		(136)
Operating Expenses	(24)		(25)
Total Expenditure		(126)		(161)
Underwriting Result		(8)		(26)
Investments	32		34
Tax	(6)		(2)
Overall Result		18		5

CNR		107%		107%

US$	2015	2016	2017	2018	2019	2020	2021
• Free Reserves ('000)	188	183	195	214	204	228	231
• Entered Tonnage (m)	62	71	74	75	76	80	88

Gross Tonnage