Trio rescued after boat overturns on NSW south coast

Three people have been rescued after their boat overturned on the NSW South Coast.

The trio, who were wearing life jackets, were winched to safety near Bawley Point, south of Ulladulla.

The dramatic rescue unfolded on Saturday afternoon when emergency services received calls that a vessel had overturned.

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Officers from South Coast Police District, Water Police and members of the Volunteer Rescue Association, Surf Life Saving and the Westpac Rescue Helicopter found them clinging to the hulls of their catamaran.

Ben Serrano, One of those rescued, said there were sharks around.

"They were there, but they weren't nipping at us," he said.

Chief Inspector David Cockram, from the South Coast Police District, said it could have been a "tragedy" had the group not been wearing lifejackets.

"We could easily have seen a different outcome and a tragedy unfold," Cockram said.

"It serves as a timely reminder that people should take all safety precautions when launching into the water, to observe the prevailing conditions and ensure all people on board are wearing life jackets."

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Water Police are investigating.

Figures released today by Royal Life Saving Australia show the week between Christmas Day to New Year's Day is the deadliest time for drownings, with 15 lives lost annually during the period.