Chairman’s Statement

The earliest P&I Club could be traced back to the Mutual Hull Insurance Association formed in 1719 by British shipowners. After 300 years, P&I Clubs have now become an integral part of the global shipping industry. In 1984, China Shipowners Mutual Assurance Association (China P&I Club, CPI or the Association) was founded under the approval of the State Council of China, laying the cornerstone of China’s P&I industry and marked the founding of China’s very own P&I Club. Despite a late start, the mutual insurance industry in China developed rapidly. In terms of total entered tonnages, China P&I Club’s has grown from only 470,000 GT to over 62 million GT. Over the past 35 years, as the only P&I Club in China and developing countries, China P&I Club has not only achieved a similar entered tonnage with that of the IG Clubs, but also preceded all P&I Clubs in the world in terms of total net free reserves and free reserve per GT.

As the largest insurer of P&I risks in China and an extremely specialized association, China P&I Club adheres to the concept of "talent brings development" and has fostered a highly qualified team with professional skills over the years. China P&I Club now provides traditional P&I covers, Marine Hull, War Risks, Charterer’s Liability covers and FD&D covers to both Chinese and international shipping communities, and has become an important force that supports China’s shift from a big shipping country to a powerhouse in the international shipping industry. Looking back on the past, we are full of pride. Looking forward to the future, we are filled with great expectations. The new Board of Directors will carry on the Association’s strategy of "internationalisation, market-orientation and professionalism" and make China P&I Club a world-class club that provides high-quality marine insurance services to shipping communities around the world.

“In no risk we fear, in the same boat we are”. In the era of globalization and China’s “Maritime Silk Road” initiative, China P&I Club will stand with you for a brighter and more promising future.

Overview

China Shipowners Mutual Assurance Association (also known as China P&I Club, CPI), founded in Beijing on 1 January 1984 under the approval of the State Council of the People’s Republic of China, is a non-profit mutual marine insurance organisation. The Association upholds and protects the interests of its members in accordance with applicable laws, rules, international conventions, and regulations. The Association is registered as a social organisation at the Ministry of Civil Affairs, PRC and under the operational guidance of the Ministry of Transport, PRC.

The Association has set up China P&I Management Co., Ltd. as its Managers who undertakes the management of the day-to-day affairs of the Association and established a comprehensive operational structure with its headquarters in Shanghai and regional branches in Beijing, Dalian, Qingdao, Guangzhou, Hong Kong, London, and Singapore.

Products and Services

China P&I Club provides its members with a package insurance solution, which includes one-stop claims handling service and a variety of insurance products such as P&I, Hull & Machinery, FD&D, Charterers Comprehensive Cover, War Risks Cover, and Marine Delay Insurance. After 40 years of experience, it has grown to become a P&I Club with global recognition.

The Association is now the largest P&I insurer in China with 90 million GT P&I Entered Tonnage, ranking 8th among its global peers. The Association has also achieved significant growth in mutual hull business, now established as one of the leading underwriters in the market.

Meanwhile, the Association has set up a global network of 451 correspondents with long term co-operations deployed in 143 countries and regions. This highly efficient and responsive network provides Members with immediate and professional assistance in terms of underwriting, claims handling, loss prevention and compliance. Over the years, China P&I Club has been engaging and developing the best talent and has built a managing and service team with adequate qualification and advanced expertise.

Members

The Association now has 193 Members including prestigious shipping and financial leasing companies both at home and abroad, such as China COSCO Shipping, China Merchants Group, Fujian Guohang Ocean Shipping, Shandong Shipping, Seaspan, OOCL, Ocean Longevity, Nanjing Ocean Shipping, China Development Bank Financial Leasing, Cheng Xin Ship Management, Jiangsu Huaxin Ship Management, SITC, Shanghai Junzheng Logistics, Chinese-Polish Joint Stock Shipping, HTM Shipping, Greathorse, PIL, IMC, CMA CGM, Minsheng Financial Leasing, Winning International Group, and etc.

Global Development

While focused on providing quality services to existing Members, the Association has also been actively exploring the global market to a point where the proportion of international tonnages has seen steady increases in recent years. Guided by the strategy of “professionalism, market-orientation, internationalisation and digitalisation”, the Association integrates international practices in corporate governance and market development, and strives to provide professional, efficient, high-quality and reliable services to Members worldwide.