Cookies on this site

This site uses cookies to store information on your computer. By using our site you accept the terms of our Privacy Policy

Accept and close
Emergency Number +44 7932 113573
 
Menu
Newsknowledge
News and knowledge
 

Release Calls

Release Calls

P&I and Defence Classes

The board has determined that the release call percentages for the 2014/15, 2015/16 and 2016/17 years should be 2%, 3% and 7% of ETP respectively.

An actuarial assessment is undertaken to establish a benchmark release call each open policy year and is adjusted to take into account and commercial or market considerations.  The benchmark release call percentages reflect the risk of the club making unbudgeted supplementary calls, and, in assessing that risk, the probability of the club’s free reserves falling from their current level to or below a minimum strategic level, and, in such a case, the amount of supplementary call needed to replenish reserves to an acceptable level and the related cost of capital.

This probability is derived by use of the club’s internal model, with the level of strategic reserves set by the board based on their assessment of the principal risks facing the club, that is to say, premium risk (including catastrophe risk), reserve risk, counterparty default risk, market risk and operational risk. 

Policy year

20 May 2016 20 May 2015 20 May 2014 20 May 2013 20 May 2012 20 May 2011 20 May 2010
2016/17

 

         
2015/16

3

7

         
2014/15 2 3 8        
2013/14   2 4 14      
2012/13     3 4.5 15    
2010/12       3.5 10 15  
2010/11         5 10 15

Standard London Class

The release call levels for the Standard London Class were set at 0% of ETP for each open policy year, on the same basis as referred to above, but reflecting the fact that the class has slightly higher relative free reserves.

Policy year

20 May 2016 20 May 2015 20 May 2014 20 May 2013 20 May 2012 20 May 2011 20 May 2010
2016/17

 

         
2015/16

0

         
2014/15 0 0 0        
2013/14   2 4 10      
2012/13     3 4.5 10    
2011/12       3.5 5 10  
2010/11         5 5 10