International Group of P&I Clubs Archives - InsuranceAsia News https://insuranceasianews.com/companies_category/international-group-of-pi-clubs/ Wed, 26 Nov 2025 09:21:12 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Japan P&I announces 5% premium hike for 2026 renewal amid geopolitical tensions, inflationary pressure https://insuranceasianews.com/japan-pi-announces-5-premium-hike-for-2026-renewal-amid-geopolitical-tensions-inflationary-pressure/ Wed, 26 Nov 2025 09:01:45 +0000 https://insuranceasianews.com/?p=205431 Increase applies for owners’ and charterers’ entries, while rates for Japanese coastal vessels will increase by 10% and FD&D will also see a rise of 5%.

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Japan P&I Club has announced a 5% premium increase for 2026 for owners’ and charterers’ entries, alongside a 10% rise for Naiko Class (Japanese coastal vessels), citing persistent global inflation...

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]]> London P&I Club opens representative office in Shanghai https://insuranceasianews.com/london-pi-club-opens-representative-office-in-shanghai/ Thu, 23 Oct 2025 03:00:41 +0000 https://insuranceasianews.com/?p=202622 The new office in Mainland China is led by Wenjia Gao and reflects the club's long term commitment to Asia, according to chairman John Lyras.

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The London P&I Club has opened its new representative office in Shanghai, led by Wenjia Gao as general manager, according to a statement.
The move, which was telegraphed in March by CUO Reto Toggw...

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]]> IG P&I tightens restrictions on Russian oil shipments as EU, UK reduce price cap https://insuranceasianews.com/ig-pi-tightens-restrictions-on-russian-oil-shipments-as-eu-uk-reduce-price-cap/ Thu, 31 Jul 2025 09:56:25 +0000 https://insuranceasianews.com/?p=196508 Sanctions include ban on 105 'shadow fleet' vessels and asset freezes on new entities, including Indian refinery Nayara Energy.

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The International Group of P&I Clubs (IG P&I) have tightened restrictions on Russian oil shipments as the EU and the UK reduced the price cap for Russian crude oil from US$60 to US$47.60 per b...

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]]> West P&I, London P&I record strong renewal growth amid market challenges https://insuranceasianews.com/west-pi-london-pi-record-strong-renewal-growth-amid-market-challenges/ Tue, 25 Feb 2025 08:46:23 +0000 https://insuranceasianews.com/?p=177146 West P&I achieves mutual tonnage increase to 110 million gross tonnes (GT), while London P&I records 12% rise to 49.3 million GT.

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The London P&I Club and the West of England P&I Club have reported strong year-on-year growth for their annual renewals for 2025, they said in press releases.
West P&I reported increased m...

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]]> P&I clubs report tonnage growth during renewals despite industry turbulence https://insuranceasianews.com/pi-clubs-report-tonnage-growth-during-renewals-despite-industry-turbulence/ Fri, 21 Feb 2025 06:30:49 +0000 https://insuranceasianews.com/?p=176872 Gard, UK P&I and NorthStandard announced successful completion of the 2025 renewal after marine insurers worldwide saw a rise in the number of large claims.

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Gard, UK P&I and NorthStandard announced the successful completion of the P&I renewal for 2025, with new tonnage and strategic adjustments as the marine insurance sector grapples with rising c...

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]]> Gard expands Japan product portfolio with marine & energy risks https://insuranceasianews.com/gard-expands-japan-product-portfolio-with-marine-energy-risks/ Thu, 23 Jan 2025 09:33:12 +0000 https://insuranceasianews.com/?p=174338 The P&I club will offer hull and machinery, war risk and loss of hire covers as well as builders’ risk to shipyards and offshore wind risk.

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Gard P&I Club has expanded its product portfolio in Japan with marine and energy risks, including hull and machinery (H&M), war risks and loss of hire cover, a company statement said. The exte...

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]]> International Group P&I 2025-26 renewals see rate hikes across categories https://insuranceasianews.com/international-group-pi-2025-26-renewals-see-rate-hikes-across-categories/ Fri, 20 Dec 2024 06:34:41 +0000 https://insuranceasianews.com/?p=172191 Fully cellular container ships (FCC) experience the largest rate increase, rising by 23.6%, while clean tankers see an 8.9% increase.

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The International Group of Protection and Indemnity Clubs (IG P&I) will increase its per gross tonnage (GT) renewal rates for the 2025-26 policy year across all vessel categories, reflecting a hig...

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The post International Group P&I 2025-26 renewals see rate hikes across categories appeared first on InsuranceAsia News.

]]> Japan P&I Club announces 7% premium hike for 2025 renewal amid inflation and uncertainties https://insuranceasianews.com/japan-pi-club-announces-7-premium-hike-for-2025-renewal-amid-inflation-and-uncertainties/ Tue, 10 Dec 2024 05:28:51 +0000 https://insuranceasianews.com/?p=171582 The increase applies for owners’ and charterers’ entries, while rates for Japanese coastal vessels and FD&D cover remain unchanged.

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Japan P&I Club has announced a 7% premium hike in 2025 for owners’ and charterers’ entries, citing rises in global inflation and insurance claims, according to a press release.
The International G...

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The post Japan P&I Club announces 7% premium hike for 2025 renewal amid inflation and uncertainties appeared first on InsuranceAsia News.

]]> Russian insurers provide cover for 60% of Moscow’s oil exports to India: report https://insuranceasianews.com/russian-insurers-provide-cover-for-60-of-moscows-oil-exports-to-india-report/ Wed, 18 Sep 2024 11:11:47 +0000 https://insuranceasianews.com/?p=162992 Signals a growing role by Russian carriers such as Ingosstrakh to facilitate oil shipments to India, its biggest buyer, despite western sanctions.

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Russian firms provided insurance cover for 60% of Moscow's oil cargoes to India, its biggest buyer, as of July, an increase from 40% in December 2023, according to a report by Reuters.
This points to ...

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]]> India’s marine insurance gambit poses questions of the West’s Russia sanctions https://insuranceasianews.com/indias-marine-insurance-gambit-asks-questions-of-the-wests-russia-sanctions/ Mon, 06 May 2024 23:30:36 +0000 https://insuranceasianews.com/?p=153396 Indian regulator's approval to three new Russian insurers backed by the sanctioned Russian National Reinsurance points to tectonic shifts in the industry.

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Well, well - India really has put the cat among the pigeons with its latest move. Late April, as we reported, India’s Directorate General of Shipping (DGS) approved three new Russian insurers.
Russian...

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