TT Club underwriting profit falls as claims rise

UK-based marine mutual carrier TT Club grew its top line by 3.3
percent in 2016, while underwriting profitability dwindled.
Gross earned premiums increased by $5.8mn from the previous year
to $177.8mn.
However, TT Club reported a 95.3 percent combined ratio, up from
94.4 percent in 2015.
Gross paid claims were $108.6mn last year. That was higher than
the $90.0mn it reported in 2015, when the insurance market was hit
by the devastating explosion in the Chinese port city of
Tianjin....