The Gothenburg based mutual is the last of the 13 International Group clubs to declare its renewal ambitions.
Shipowner directors of the club agreed a renewal on expiry terms at a meeting in London yesterday.
The decision was taken against a background of the claims volatility seen in the first half of the year abating in recent months, to lower the combined ratio close to 100%, indicating breakeven on the underwriting side.
The Swedish Club reports better than expected growth in its P&I book, which now stands at a total of 66m gross tons, including charterers entries. The fleet insured for hull risks also slightly increased.
“We see this as a vote of confidence going forward,” said Swedish Club managing director, Lars Rhodin.
The zero general increase applies to both P&I and freight, demurrage and defence cover, although deductibles for cargo and crew claims for the former will increase by $1,000.
The Swedish Club joins Steamship Mutual, West of England and Shipowners’ clubs in the select group that are not seeking an increase.
The Standard Club's London class covering smaller vessels is also not seeking a general increase although there is a 2.5% general increase for the mainstream entry of larger ocean going ships.
With a reduction in the reinsurance tariff in prospect shipowners facing a zero general increase can look to an overall drop in total P&I costs in 2016.
Six of the International Group clubs have opted for general increases of 2.5%, the Japan Club is seeking a 3% rise and the London club 5%.
Skuld has abandoned general increases but still adjusts rates for overall trends, as well as individual claims records.
