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.