London P&I reported continued growth in premiums, entered tonnage and free reserves during the 2025/26 financial year, extending its positive momentum of recent years. The club recorded an operating surplus of US$21.2 million , increasing year-end free reserves to US$192.4 million . Gross premium income rose 8% year-on-year to US$172.9 million , supported by growth across both mutual and fixed premium P&I products. Entered tonnage also increased, exceeding 80 million gross tons . London P&I reported a combined ratio of 108% , reflecting deterioration in a small number of historical fixed premium claims and its share of prior-year International Group pool claims. Despite this, a 7.2% investment return on assets under management and cash holdings contributed to a positive overall result. The club noted that its three-year average combined ratio improved to below 100% . “London P&I continues to build on the progress achieved in recent years, underpinned by strong capital and a clear strategic direction,” said James Bean, CEO of London P&I . He added that the club remains focused on technical pricing, careful risk selection and close engagement with members in a more challenging operating environment. The financial results follow changes at board and management level. Vassilis J. Laliotis became Chairman in February 2026, succeeding John M. Lyras , who stepped down after 45 years of service to the club. London P&I also strengthened its leadership team with the appointment of Deborah Yu as Regional Director, Asia, and Victoria Papageorgiou as Commercial Director. The post London P&I reports higher premiums and reserves in 2025/26 appeared first on Container News .