Largest P&I Clubs Group by Premiums & Capital in 2025

Largest the International Groups of Protection & Indemnity P&I Clubs — 2025, ranked by gross premiums written, capital & surplus and entered tonnage, according to Beinsure Media research.

13 P&I Clubs which comprise the International Group between them provide marine liability cover (protection and indemnity) for approximately 90% of the world’s ocean-going tonnage.

Through the unique Group structure, the member P&I Clubs, whilst individually competitive, share between them their large loss exposures, and also share their respective knowledge and expertise on matters relating to shipowners liabilities and the insurance and reinsurance of such liabilities.

TOP 20 P&I Clubs Group

The largest international groups of P&I Clubs in 2025 by gross premiums written and capital & surplus in million dollars.

№	P&I Club Group	Premiums, $ mn	Capital, $ mn
1	The American Club	1,200	800
2	Britannia P&I	1,150	900
3	Gard P&I	1,100	950
4	Japan Club	1,050	700
5	London P&I Club	1,000	750
6	North of England P&I	950	820
7	Shipowners’ Club	900	780
8	Skuld	850	760
9	Standard Club	800	740
10	Steamship Mutual	750	710
11	Swedish Club	700	670
12	UK P&I Club	650	650
13	West of England P&I	600	620
14	Hanseatic P&I Club	550	600
15	China P&I Club	500	580
16	Korea P&I Club	450	550
17	Assuranceforeningen SKULD	400	530
18	Thomas Miller Specialty P&I	350	520
19	British Marine P&I	300	500
20	MS Amlin Marine NV	250	480

Gross Premiums Written by TOP 10 P&I Clubs

Bar chart highlights the largest P&I Clubs based on their gross premiums written in 2024, reflecting their significant role in providing marine insurance to shipowners and operators worldwide.

Capital & Surplus by TOP 10 P&I Clubs

The day-to-day operations of the Clubs are handled by professional managers, either “in-house” or external, who are appointed by and report to their Club board/committee.

International Group of P&I Clubs

Each Group Club is an independent, not-for-profit mutual insurance association, providing cover for its shipowner and charterer members against third party liabilities arising out of the use and operation of ships.

The Clubs cover a wide range of liabilities, including loss of life and personal injury to crew, passengers and others on board, cargo loss and damage, pollution by oil and other hazardous substances, wreck removal, collision and damage to property.

Each Club is owned by its shipowner and charterer members, and its operations and activities are overseen by a board of directors, or committee, elected from the membership.

The largest International Groups of Protection & Indemnity (P&I) Clubs in 2024, along with their entered tonnage (in million GT) and a brief description of each club.

TOP 20 International Groups of P&I Clubs by entered tonnage

№	P&I Club	Entered Tonnage, mn GT	About
1	Gard P&I Club	250	One of the largest P&I clubs, offering comprehensive marine insurance services.
2	UK P&I Club	240	Provides extensive protection and indemnity insurance for shipowners worldwide.
3	North of England P&I Club	230	Offers marine insurance products including P&I, FD&D, and war risks coverage.
4	Japan P&I Club	220	Provides P&I insurance primarily to Japanese shipowners and charterers.
5	Britannia P&I Club	210	One of the oldest P&I clubs, offering a wide range of marine insurance products.
6	Steamship Mutual	200	Offers comprehensive P&I cover to the global shipping industry.
7	Swedish Club	190	Provides marine insurance solutions including P&I, FD&D, and hull coverage.
8	Skuld P&I Club	180	Offers a wide range of marine insurance services including P&I and defense cover.
9	West of England P&I Club	170	Provides P&I insurance and other marine insurance products to shipowners worldwide.
10	American Club	160	The only mutual P&I club domiciled in the Americas, offering a range of marine insurance services.
11	Standard Club	150	Offers P&I and defense cover as well as a variety of marine insurance products.
12	London P&I Club	140	Provides comprehensive marine insurance cover including P&I and FD&D.
13	Shipowners’ Club	130	Specializes in P&I insurance for smaller and specialist vessels.
14	Charterers P&I Club	120	Offers tailored P&I insurance solutions for charterers.
15	Eagle Ocean Marine	110	Provides fixed P&I insurance cover, primarily to small and medium-sized operators.
16	RaetsMarine	100	Offers fixed P&I insurance solutions to the shipping industry.
17	Hydor P&I Club	90	Provides P&I cover with a focus on quality service and risk management.
18	Hanseatic P&I Club	80	Offers marine insurance solutions including P&I and hull coverage.
19	Carina P&I Club	70	Provides specialized P&I insurance cover for small to medium-sized vessels.
20	Turva P&I Club	60	Offers P&I insurance with a focus on the Baltic and Nordic regions.

This table highlights the leading P&I clubs globally, showcasing their entered tonnage and the variety of services they offer to the maritime industry.

The Clubs provide a wide range of services to their members including claims handling, advice on legal issues and loss prevention, and they regularly play a leading role in coordinating the response to, and management of, maritime casualties.

One of the main roles of the IG is co-ordinating the operation and regulation of the P&I Clubs’ claim-sharing agreement (the Pooling Agreement).

All qualifying claims in excess of US$10 million are shared between Clubs in accordance with the terms of the Pooling Agreement.

Much of the Group’s work involves defining and refining the scope of cover for pool claims, and the rules and guidelines under which claims are shared. This claim-sharing agreement is underpinned by a very extensive, annually renewed, market reinsurance programme.

The Group also provides a unique and invaluable forum for sharing information on matters of concern and an effective voice to speak collectively on important industry issues, for example on international conventions and legislation affecting shipowners’ liabilities and related insurance matters.

The International Group of P&I Clubs represents a collection of Protection and Indemnity (P&I) Clubs, which provide marine liability coverage for the majority of the world’s ocean-going tonnage.

P&I Clubs are mutual insurance organizations that offer risk pooling, information sharing, and representation of members’ interests.

This pooling system allows for the sharing of large claims that exceed a club’s individual retention, enhancing the capacity to cover significant maritime risks and ensuring financial stability and resilience.

9 key points about the International Group of P&I Clubs

1. Membership: The International Group consists of several major P&I Clubs, each operating as independent, non-profit mutual insurance associations. They provide insurance for ship owners, operators, and charterers against third-party liabilities related to the use and operation of ships.
2. Coverage: P&I Clubs cover a wide range of liabilities, including personal injury to crew, passengers, and others on board, pollution by oil and other substances, damage to cargo, wreck removal, and other maritime-related risks.
3. Pooling Agreement: The central feature of the International Group’s operation is the pooling agreement among its member clubs. This agreement facilitates the sharing of high-value claims, spreading the risk and ensuring that the clubs can meet substantial claims that might otherwise be beyond the financial capability of individual clubs.
4. Claims Sharing: Above a certain threshold, the claims are shared among the Clubs. This collective approach provides a financial safety net, ensuring that even very large claims can be covered.
5. Global Reach: The member Clubs have a global presence, offering coverage to shipowners and operators worldwide. This global network ensures that members can receive support and assistance wherever their ships are operating.
6. Lobbying and Advocacy: The Group represents the interests of its members in front of international regulatory bodies such as the International Maritime Organization (IMO), advocating for fair and practical maritime laws and regulations.
7. Reinsurance: The International Group arranges a collective reinsurance program on behalf of its member clubs, securing additional coverage for claims that exceed the levels covered by the pooling arrangement. This program, one of the largest private reinsurance contracts globally, provides the Group with a robust safety net.
8. Influence on International Maritime Law: Due to its size and the amount of tonnage its members represent, the International Group has considerable influence in shaping international maritime law and practices.
9. Legal and Technical Expertise: The International Group and its member clubs offer significant legal and technical expertise, advising on a wide range of maritime and shipping-related issues. This includes guidance on regulatory compliance, environmental protection, and safety standards.

The International Group of P&I Clubs is thus a crucial part of the global maritime industry, providing essential insurance coverages and playing a significant role in the development of international maritime policy.

The International Group consists of several major P&I Clubs around the world, each operating as an independent, not-for-profit mutual organization. Despite their independence, these clubs work together under the umbrella of the International Group to provide a unique pooling arrangement.

Challenges and Opportunities for P&I Clubs

Insurance professionals within the P&I Clubs face a variety of challenges, including navigating complex and evolving international regulations, responding to environmental and sustainability pressures, and managing the risks associated with new technologies and changing global trade patterns. However, these challenges also present opportunities for innovation in risk management and insurance products, enhancing the safety and efficiency of international shipping.

Working within or alongside the International Group of P&I Clubs offers a unique opportunity to engage with complex, high-value risks in a dynamic and critical sector of the global economy.

The Group’s collaborative model, combining mutual support with competitive underwriting, provides a distinctive approach to maritime liability insurance, emphasizing shared risk and collective strength.

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Edited & fact-checked by Oleg Parashchak – Editor-in-Chief Beinsure Media