The UK Protection & Indemnity (P&I) Club said it was "particularly well placed to deal with the challenges" it faced, despite reporting an overall loss for the year ended 20 February.
In its annual report released this week, the club said that, at 128%, its ratio of assets to outstanding claims was still within the board's target.
It said the adverse economic climate had affected investment returns.
The club's funds fell 12% from the premium.
It experienced an increase in outstanding claims of 1.5%.
Club chairman Aleco Kairis said: "Financially, the club is well placed to deal with future challenges.
"This means we're not diverted from our key aim of providing top level service for the membership."
