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London Club boosts reserves

London Club boosts reserves
The London P&I club reported a $9.4m increase in the year to 20 February 2013, boosting its free reserve to $154m.

Improvements in claim levels up to $100,000 and over $1m countered increasing activity in the $100,000 to $1m bracket while pool claims also rose; 2012/13 was the International Group's worst year for pool claims.

Return on invested assets reached £23.7m or 6.9%.

The club secured entries from new and existing members, offsetting a high level of withdrawals and resulting in slight growth in owned entries to 41.5m gt.