China P&I Club applies for full membership in the International Group of P&I Clubs, aiming to become the first mainland Chinese member.
China's largest mutual marine liability insurance organization, the China Shipowners Mutual Assurance Association (China P&I Club), has officially applied for full membership in the International Group of P&I Clubs (IG), which includes the world's leading marine insurance organizations.
According to a news report by Splash247 dated October 15, if the application is accepted, the China P&I Club will become the first member from mainland China to join the international group.
The application was submitted in London.
Xu Lirong, Chairman of the Board of Directors of China P&I Club, along with senior executives, visited the International Group's headquarters in London on October 13 to submit the membership application.
Nick Shaw, CEO of the International Group, expressed pleasure in hosting the Chinese delegation in London and stated that the application would be evaluated according to the acceptance criteria established by the current members.
In an official statement from the group, it was reported that the evaluation process would continue in the coming months and would not affect the P&I insurance renewals in February 2027.
Insuring 87% of the world fleet
The International Group of P&I Clubs currently consists of 12 P&I clubs. The member organizations provide marine liability insurance for approximately 87% of the total gross tonnage of the global deep-sea trading fleet.
The clubs within the group share large-scale damages through a mutual pooling system while insuring shipowners' liabilities to third parties.
According to the current arrangement, damages exceeding each club's own liability limit of $10 million are covered under the group's mutual pool and reinsurance mechanisms.
The China P&I Club has a fleet of 2,199 vessels.
Founded in Beijing in 1984 and headquartered in Shanghai, the China P&I Club is the largest P&I insurer in China.
As of February 2026, the club's insured fleet consists of 2,199 vessels with a total capacity of 104.8 million gross tons.
The club, which states that it is the eighth largest P&I organization in the world in terms of insured tonnage, includes international shipping companies such as COSCO Shipping, China Merchants, OOCL, Seaspan, PIL, CMA CGM, Costamare, Wan Hai, and Zodiac Maritime among its members.
The organization has branches in London, Singapore, and Piraeus, while also operating various offices in China and Hong Kong.
The international credit rating agency AM Best confirmed the China P&I Club's financial strength rating of A- with a stable outlook in July.
The international activities of the Chinese organization are expanding.
The China P&I Club currently holds the status of a mutual insurance organization with an approved reinsurance relationship within the International Group. It also conducts reinsurance agreements with some of the group's current members.
The organization expanded its international activities by establishing the Hong Kong Shipowners Mutual Assurance Association in 2025.
In August 2026, Seaspan became the first foreign shipowner to make insurance payments to the China P&I Club in Chinese yuan. The initial implementation covered two newly built container ships with a capacity of 14,000 TEU each.
The application for full membership of the China P&I Club will be decided after the evaluation by the 12 member clubs within the International Group.
Source: SeaNews Türkiye
