The London P&I Club was officially founded in 1866. At that time, it was managed, along with the British Shipowners’ Mutual Protection and Indemnity Association Limited for Sailing Ships, by Sir George Hodgkinson. Hodgkinson was an Insurance Broker and Shipowner and also Sheriff of London, who had been knighted in 1851.
In 1890, Arthur Bilbrough, a Liverpool based Shipowner and Lloyds Broker, bought out Hodgkinson who retired through ill health. The two Associations merged under the name of The London Steam-Ship Owners’ Mutual Insurance Association Limited and Bilbrough’s company has remained the Club’s Managers to this day.
At that time 394 ships were entered in the Club totalling 329,814grt.
Since then the Club has continued to grow both in size and scope, continually adapting to meet the needs of the market and its membership.
During both World Wars, representatives from the London P&I Clubs’ Managers were called upon by the Admiralty to assist with their specialist knowledge of marine matters and shipping. In fact, during the Second World War all government instructions to Shipowners were sent in secret communications via the Club. These related to issues regarding convoys, security at ports, depth charges and ultimately full naval control of shipping.
In the 1950s the Club began to take on non-British tonnage and continues to this day to cover ships from a broad spectrum of shipping nations.
During the late 1960s the tonnage entered in the Club expanded dramatically with old cargo vessels being replaced by new larger and faster vessels. These included a new type of vessel following the introduction of containers.
The early 1970s saw the introduction of VLCCs, the first one entering in the Club in 1971, at 124,009 grt.
The Club has an influential and authoritative position in maritime affairs, taking part in consultations with IMO, BIMCO and other organisations working in the maritime field, and playing a major role in the International Group of P&I Clubs.
The London P&I Club is now recognised as the leading insurer for the largest blue-water tonnage from all the world's major shipping centres, particularly in the bulk trades. It remains justifiably proud of its long tradition in the P&I industry. |