May 19 - Specialist insurance provider TT Club has released its financial results year ended December 31, 2013 and has maintained its A- rating by AM Best for an eighth consecutive year.
"The TT Club's strong financial performance in the past 12 months, which has been recognised in our maintained A- (excellent) rating by AM Best, has been echoed in our claim levels which have declined compared to figures recorded in recent years," stated Knud Pontoppidan, chairman of the TT Club.
The TT Club's financial highlights include USD186.3 million of gross written premiums, a USD 12 million surplus, total assets of USD641.4 million and therefore a total surplus and reserves of USD161.6 million.
Charles Fenton, chief executive of the TT Club, commented: "Despite the tough premium rating environment, the TT Club's premium levels have remained as expected at the beginning of the year and we remain committed to working with members and brokers to maintain our position as the world's leading provider of international transport and logistics insurance."
