China Shipowners Mutual Assurance Association, better known as China P&I Club, has formally applied for full membership in the International Group of P&I Clubs, the 12-club structure that provides marine liability cover for approximately 87% of the world's oceangoing tonnage. International Group CEO Nick Shaw confirmed that China P&I chairman Xu Lirong formally presented the application at the group's London office on October 13. If admitted, China P&I would become the first mainland Chinese P&I club to join the International Group. The application will be assessed over the coming months under the group's existing admission criteria and will not affect the February 2027 renewal. China P&I enters that process with 104.8 million GT across 2,199 P&I-entered vessels, an A- financial-strength rating from AM Best and what it describes as the eighth-largest P&I book globally by entered tonnage.
China P&I Club · October 2026
From Reinsured Association to Full Group Member?
China P&I is already connected to the International Group. Full membership would move it into the formal club structure that pools major liabilities, buys collective reinsurance and represents shipowners before global regulators.
P&I Entered Tonnage104.8M GT
Reported as of February 20, 2026.
P&I Vessels2,199
Across Chinese and international members.
IG Market Reach~87%
Share of global oceangoing tonnage covered by current Group clubs.
Current IG Clubs12
China P&I would be the first mainland Chinese member if admitted.
The Membership Step
Current PositionApproved reinsured mutual association with links to existing IG clubs.
→
October 13Formal application presented to the International Group in London.
→
Next Several MonthsApplication assessed against the Group's agreed objective admission criteria.
Already Inside the EcosystemReinsurance + 6 IG relationships
China P&I says it already has commercial relationships with six major International Group clubs.
Full Membership Would AddPooling + collective structure
Formal participation in the Group framework used to mutualise major casualty exposure and collectively purchase reinsurance.
Two Strategies at Once
Build Chinese Capacity Outside the System, Gain a Seat Inside It
China P&I's recent moves point toward greater domestic capability and greater integration with the international marine-insurance market at the same time.
Building More Independent Capacity
Chinese ReinsuranceStrategic cooperation agreement signed with China Property & Casualty Reinsurance in September 2026.
RMB SettlementSeaspan agreed to pay P&I calls in cross-border renminbi for two 14,000-TEU newbuildings.
Overseas NetworkService presence now extends to London, Singapore, Hong Kong and Piraeus.
International MembersZodiac, Seaspan, CMA CGM, Costamare, PIL and others sit alongside major Chinese shipowners.
Joining the Existing Global Structure
Formal Pool ParticipationEligible major claims are mutualised across International Group member clubs.
Collective ReinsuranceThe Group negotiates billions of dollars of casualty protection as one structure.
Technical ForumsGroup committees and working groups coordinate liability, claims, legal and regulatory expertise.
External RepresentationThe Group speaks collectively with governments, maritime authorities and international organisations.
104.8M GTChina P&I already has the scale of a major international mutual.
A- / StableAM Best financial-strength rating reaffirmed in July 2026.
490 CorrespondentsClaims and service network across approximately 145 countries and regions.
Potential Strategic Gain
A mainland Chinese club would participate directly in the dominant international P&I structure rather than remaining only a reinsured associate outside the full membership.
Not a Sanctions Escape Hatch
Full membership would not exempt China P&I from applicable sanctions or remove dependence on international reinsurance counterparties.
Ship Universe P&I Claim Stack
Where Would a Major Maritime Liability Claim Sit?
Enter a casualty value and see how it crosses the current International Group's principal 2026/27 retention, pooling and reinsurance thresholds.
US$ million
Individual Club · 0–10M
$10M
Group Pool · 10–100M
$90M
GXL Layer 1 · 100–750M
$650M
GXL Layer 2 · 750–1,500M
$250M
GXL Layer 3 · 1.5–2.35B
$0
Collective Overspill · 2.35–3.35B
$0
$1.00B claim
This illustrative claim passes through the individual club retention, the Group Pool and into the second GXL reinsurance layer.
Simplified educational model. The actual Pooling Agreement contains detailed eligibility, allocation, Hydra participation, private placements, reinstatements and special provisions. Oil pollution, malicious cyber, pandemic and war risks can have different limits or structures.
Feedback Welcome
We welcome your feedback, suggestions, corrections, and ideas for enhancements.
