A new project “J-collaboration” with Tokio Marine Insurance Singapore Ltd
The Japan Ship Owners’ Mutual Protection & Indemnity Association (Japan P&I Club) and Tokio Marine Insurance Singapore Ltd (TMiS) 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.
Japan P&I Club is the leading Club in the Japanese P&I insurance market. TMiS, the general insurance arm of Tokio Marine Group incorporated in Singapore, has considerable expertise and experience in underwriting Hull & Machinery insurance in Singapore. As Japanese shipping companies are showing an increased presence in Singapore, this joint project will enable us to provide meticulous services as an alliance of Japanese insurers, where shipping companies in Singapore have confidence and trust in.
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 a 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.
The “J-Collaboration” 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.
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