The London P&I Club said its financial statements for the year ending 20 February 2004 showed further improvements in its finances.
It said highlights of its performance included a 23% increase in its free reserves, up from $82.8m in 2002/3 to $101.9m for 2003/4.
The club said this increase brought its free reserves to almost $4 per entered ton.
It said it was also greatly encouraged by the low level of claims during the year, reaching its lowest level for 20 years.
Investment income also recovered substantially, and produced the best return on assets for five years, said the club.
