Tokio Marine Insurance Singapore JPI Collaboration

Tokio Marine Insurance Singapore Ltd (“TMiS”) and The Japan Ship Owners’ Mutual Protection & Indemnity Association (“Japan P&I Club”) have launched a new project “J-Collaboration” to jointly provide P&I insurance and the related services for Japanese shipping companies in Singapore from 1 April 2022.

TMiS, the general insurance arm of Tokio Marine Group incorporated in Singapore, has considerable expertise and experience in underwriting Hull and Machinery insurance in Singapore. The Japan P&I Club is the leading Club in the Japanese P&I insurance market. As Japanese shipping companies are showing an increased presence in Singapore, this joint project will enable TMiS and Japan P&I Club, as an alliance of Japanese insurers, to provide meticulous services where shipping companies in Singapore will have confidence and trust in.

The Japan P&I Club will provide the joint P&I insurance products in Singapore as a lead insurer and TMiS will participate in underwriting as co-insurer. TMiS will also oversee sales and marketing and the Japan P&I Club will be in charge of claims handling. Both companies will combine their know-how to meet the needs of their customers.

TMiS will start underwriting policies for new vessels that will be built and purchased after 1 April 2022 and launch full-scale underwriting from renewals in February 2023.