2015 Policy Year
As the dust settles on another 20th February renewal we’ve had time to reflect on what was an intensive business period. Early mornings and late nights are part and parcel of the renewal period and we’ve been topping the team up with vitamin D owing to a lack of sunlight!
Pleasingly the hard work has once again paid off with premium retention exceeding 97%. We’ve also welcomed 36 new Assureds and 213 new vessels, pushing us over the 2,000 insured vessels mark for the first time.
As our quote/bind success rate indicates we’re certainly not the cheapest in the market and we like to think that those joining us for the first time did so for more than just economical reasons. Product enhancements including $1billion limits of liability and the ability to write certain tonnage with gross tons of up to 40,000 came too late to impact on the February renewal but, will play a part in our 2015 development. We hope that by offering a wider product we can attract more owners and operators to the Lodestar way of doing business.
So there you are. Another successful renewal period and our thanks goes to the Lodestar Team for their on-going efforts, our broker friends who continue to supply Lodestar with quality business and of course those Assureds who place their faith in Lodestar delivering.
Wishing you all the best for the remainder of 2015.