Lodestar provides P&I cover to a maximum limit of USD 1 billion for owned vessels, with the tonnage threshold set at 40,000 gross tons.

The insurer announced a 3.3% reduction in annual premium income from USD 30 million to USD 29 million. Despite the overall reduction it has expanded its portfolio substantially in both the Americas and Asia.

Three Underwriters departed Lodestar in 2016 to join a rival non-IG insurer. Lodestar has opted to promote from within, and has made a commitment to its insureds that business will continue to operate as usual.

Underlying security of up to USD 500 million is provided solely by RSA. For limits above USD 500 million security is provided by Lloyd's syndicates and composite insurers.