Solid financial footing
The Club has reserves of $31.8m as at February 2016 and is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and Prudential Regulation Authority. We are rated A- stable by AM Best Company.
You can download our latest reports and accounts PDF from our publications page.
Financials for the year ended 20 Feb 2016
The Club reports a deficit of $1.7m for the 2015 Policy Year. This was due to a fall in gross premium written and a negative investment return. However, free reserves at the year-end stand at $31.8m, thus far exceeding the capital requirements of the Solvency II regime.
The Club’s reserving policy is to maintain reserves between $25 million and $35 million, as detailed in the Directors’ Report.
The Club’s primary investment objectives are the conservation and accumulation of capital to cover its future obligations and to support the business. The portfolio is invested in US dollar bonds, cash, equities and absolute return funds.