Claims made to the London P&I Club during 2002 were 30% lower than in the 2000 year of account.
The Club said the downturn in claims over recent years was "a great source of encouragement". The Club revealed that claims for 2002 were 10% less than in 2001 and 30% less than 2000.
Paul Hinton, chief executive of London Club managers, A Bilbrough and Co, said: "Financial stability is of fundamental importance to the London Club, its managers and its members.
"The Club's sound financial base and the steps taken towards supporting its reserves, without recourse to third-party financing are crucial elements in maintaining overall strength."
