Which is the biggest P&I club?

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Gard P&I Club is the biggest Protection & Indemnity (P&I) club in the world, leading the industry by entered gross tonnage (GT) and overall financial size.

Key Details About Gard

  • Entered Tonnage: Approximately 250 million GT, making it the largest member in the International Group of P&I Clubs.
  • Financial Scale: It consistently reports the highest premium income, largest total balance sheet, and greatest surplus funds among all mutual P&I insurers.
  • Origin: Founded in 1907 and headquartered in Arendal, Norway.

What are the top 10 P&I clubs?

The International Group of P&I Clubs consists of 12 principal protection and indemnity mutual insurance associations that together insure approximately 90% of the world's ocean-going tonnage.

The Major P&I Clubs

  • Gard: Based in Norway; the largest club in the group and the only one with an A+ credit rating.
  • NorthStandard: Based in the UK; formed by the 2023 merger of North of England and the Standard Club.
  • UK P&I Club: Managed by Thomas Miller; one of the oldest and largest operations in the group.
  • Japan P&I Club: The Japan Ship Owners' Mutual Protection & Indemnity Association based in Tokyo.
  • Britannia P&I: Managed by Tindall Riley; based in the UK.
  • Steamship Mutual: Operates through managers in London and Bermuda.
  • Skuld: Assuranceforeningen Skuld, headquartered in Oslo, Norway.
  • West of England: The West of England Ship Owners Mutual Insurance Association.
  • The London P&I Club: Managed by Aasgardia / Brookes Bell / Thomas Miller specialties historically, a prominent historical mutual.
  • The Shipowners' Club: Specializes in smaller and specialist vessels.
  • The Swedish Club: Sveriges Ångfartygs Assurans Förening, based in Gothenburg.
  • The American Club: American Steamship Owners Mutual Protection and Indemnity Association, domiciled in New York.

Who are the biggest maritime insurance companies?

Gard AS is the world's largest marine protection and indemnity (P&I) club and a leading global maritime insurer.

Major Global Marine and Maritime Insurers

Maritime insurance spans hull and machinery (H&M), protection and indemnity (liability), and cargo risks. The industry leaders include:

  • Gard AS: Based in Norway, Gard is the top mutual marine insurer globally, handling a massive share of the world's ocean-going fleet liability through the International Group of P&I Clubs.
  • Allianz Commercial: A premier global marine underwriter providing comprehensive hull, cargo, and liability coverages worldwide.
  • Chubb: The world's largest publicly traded property and casualty insurer, offering extensive marine lines, specialized shipping operator solutions, and large-scale maritime reinsurance facilities.
  • China P&I Club: One of the largest mutual marine insurers, representing a powerful and rapidly growing share of regional and international shipping protection.
  • Tokio Marine Group: A major global property and casualty group with a powerful international marine and transit insurance footprint.
  • Zurich Insurance Group: Originally founded as a marine reinsurer, Zurich remains a prominent global provider spanning commercial cargo, hull, and ocean transit risks.
  • AIG (American International Group): A dominant commercial marine player offering specialized global vessel, cargo, and liability protection.
  • Liberty Mutual Ocean Marine Group: A major provider covering global ports, shipbuilders, hull, machinery, and protection and indemnity risks.

What are the 10 largest insurance companies in the world?

The largest insurance companies in the world can be ranked by different metrics, most commonly total assets or market capitalization, with Allianz SE and Berkshire Hathaway leading global lists.

Top 10 by Total Assets (A.M. Best Rankings)

  1. Allianz SE (Germany)
  2. Berkshire Hathaway (United States)
  3. China Life Insurance (Group) Company (China)
  4. Ping An Insurance (Group) Company (China)
  5. Prudential Financial (United States)
  6. AXA S.A. (France)
  7. MetLife, Inc. (United States)
  8. Legal & General Group (United Kingdom)
  9. Manulife Financial Corporation (Canada)
  10. Nippon Life Insurance Company (Japan)

Top 10 by Market Capitalization

  1. Berkshire Hathaway (United States)
  2. UnitedHealth Group (United States)
  3. Ping An Insurance Group (China)
  4. AIA Group (Hong Kong)
  5. China Life Insurance (China)
  6. Elevance Health (United States)
  7. Allianz (Germany)
  8. Cigna (United States)
  9. Chubb (Switzerland)
  10. Progressive (United States)

How many P&I clubs are there in the world?

There are 12 principal mutual protection and indemnity (P&I) clubs in the world that make up the International Group of P&I Clubs, though some historical or transitional references still cite 13.

Overview of P&I Clubs

  • Market Share: Together, these 12 clubs insure approximately 90% of the world's ocean-going merchant tonnage.
  • Structure: They operate as non-profit mutual insurance cooperatives where shipowners insure one another against third-party liabilities.
  • The 12 Member Clubs: American Club, Britannia, Gard, Japan P&I, London P&I, NorthStandard, Shipowners' Club, Skuld, Steamship Mutual, The Swedish Club, UK P&I, and West of England.

The American P&I Club - An Introduction

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Which P&I clubs are approved by the Directorate General of Shipping?

The Directorate General of Shipping (DGS) in India recognizes all members of the International Group of P&I Clubs (IG P&I) alongside a specific list of approved non-IG insurance companies and P&I clubs to comply with Indian port entry and maritime insurance regulations.

Approved Categories

  • International Group (IG) P&I Clubs: All 13 principal IG P&I clubs are fully recognized by the DG Shipping for statutory compliance under the Merchant Shipping framework.
  • Non-IG Approved Insurers: Vessels insured by selected non-IG providers holding active authorization under the Maritime Insurance Portal are permitted to trade in Indian waters.

Sample of DG Shipping Approved Non-IG P&I / Insurers

  • Korea Ship Owner Mutual Protection and Indemnity Association (Valid until: 20.02.2028)
  • Ingosstrakh Insurance Company (Valid until: 20.02.2029)
  • Hydor AS (Valid until: 20.02.2027)
  • Mitsui Sumitomo Insurance Co., Ltd. (Valid until: 20.02.2028)
  • Islamic Protection & Indemnity Club (Valid until: 19.02.2027)
  • The New India Assurance Co., Ltd. (Valid until: 20.02.2029)
  • Alfastrakhovanie PCL (Valid until: 20.02.2030)

What are the top 10 insurance companies?

The world's top 10 largest insurance and managed healthcare companies by trailing twelve-month (TTM) revenue include major global players and financial powerhouses.

Top 10 Insurance Companies Globally (By Revenue)

  • UnitedHealth Group (USA): ~$435.15 billion TTM revenue, leading the global market in health insurance and services.
  • Berkshire Hathaway (USA): ~$400.54 billion TTM revenue, owning major insurers like GEICO alongside diverse holdings.
  • CVS Health (USA): ~$394.08 billion TTM revenue, offering health insurance through its Aetna subsidiary.
  • The Cigna Group (USA): ~$268.22 billion TTM revenue, specializing in global health services and insurance.
  • Centene Corp (USA): ~$185.85 billion TTM revenue, focused on government-sponsored healthcare programs.
  • Ping An Insurance (China): ~$138.72 billion TTM revenue, one of the world's most valuable insurance brands.
  • Allianz SE (Germany): ~$135.79 billion TTM revenue, a premier global financial services and insurance provider.
  • Humana Inc (USA): ~$126.36 billion TTM revenue, well-known for Medicare and health insurance plans.
  • AXA SA (France): ~$101.40 billion TTM revenue, a worldwide leader in insurance and asset management.
  • Munich Re (Germany): ~$48.95 billion TTM revenue, specializing heavily in global reinsurance and primary insurance.

Who are the big 5 insurance companies?

The "Big 5" insurance companies usually refer to the largest auto and property-casualty insurers in the United States: State Farm, Progressive, GEICO (Berkshire Hathaway), Allstate, and USAA.

Auto and Property-Casualty (P&C) Big 5

  • State Farm: The largest property and casualty insurer and auto insurer in the U.S. by market share.
  • Progressive: A major personal auto insurer known for rapid growth and digital comparison tools.
  • GEICO: Owned by Berkshire Hathaway, a massive personal auto insurance provider.
  • Allstate: One of the nation's largest personal lines and property and casualty insurance companies.
  • USAA: A top insurer serving military members, veterans, and their families.

Health Insurance Big 5

If you mean health insurance providers, the top major payers by revenue and enrollment are often grouped as:

  • UnitedHealth Group
  • CVS Health (Aetna)
  • Cigna Group
  • Elevance Health (formerly Anthem)
  • Humana

What are the four types of marine insurance?

The four primary types of marine insurance are Cargo Insurance, Hull Insurance, Freight Insurance, and Liability Insurance.

The Four Core Coverages

  • Cargo Insurance: Protects the physical goods and merchandise being transported against loss, damage, or theft while in transit over water, air, or land.
  • Hull Insurance: Covers physical damage to the vessel or ship itself, including its structure, machinery, and onboard equipment.
  • Freight Insurance: Compensates the shipping company for lost income or shipping fees if the cargo is damaged, lost, or unable to be delivered due to an accident.
  • Liability Insurance: Covers the vessel owner's legal liability for third-party injury, property damage, or environmental pollution caused by a maritime accident or collision.

Who are the big 3 insurance brokers?

The big three insurance brokers globally, ranked by total revenue, are Marsh McLennan, Aon, and Arthur J. Gallagher & Co.

  • Marsh McLennan: The world's largest insurance broker, based in New York, USA. It generates over $25 billion in revenue. It specializes in risk, strategy, and human capital.
  • Aon: The second-largest global insurance broker, headquartered in London, UK. It brings in more than $15 billion in revenue. It focuses on risk management and reinsurance.
  • Arthur J. Gallagher & Co.: The third-largest global insurance broker, based in Rolling Meadows, Illinois, USA. It reports over $11 billion in revenue. It provides global brokerage, consulting, and risk placement services.