In business since 1855, Britannia was the first P&I Club in the market and remains a leader in the International Group of P&I Clubs. We have consistently held our prominent position by focussing on providing an exceptional standard of service to the highest quality Members, based on the essential values and principles of mutuality combined with commercial strength.
Britannia remains committed to mutuality as the best way to provide its services for the benefit of its Members. We focus on our core business of P&I and FD&D insurance, providing professional management services without answering to shareholders. We work closely with our Members so that we understand their businesses. We’re big enough to be able to focus on the quality and compatibility of our Members, rather than growth. We provide service of the highest standard to markets that we know well. This is reflected in the longevity and ongoing strength of our business relationships. The administration and management functions of the mutual are provided on behalf of The Britannia Steam Ship Insurance Association Limited by Tindall Riley (Britannia) Limited.
We have reached our position by seeking high quality Members who share the same approach to managing the risks we cover. All our business is written on the basis of a fair rating for each Member with realistic aims for balancing the Member’s claims record over a ten year period. As well as sound underwriting, we support our Members by providing professional and proactive claims management from our experienced team of claims handlers. We maintain control over claims to minimise costs for the benefit of all Members. We assist our Members to minimise risk by sharing our expertise and providing guidance outside the claims environment. By understanding our Members’ own businesses, we adapt our services to their needs.
The quality of our services is reflected in our commercial strength. We are rated “A (Stable)” by Standard & Poor’s and have some of the strongest financial reserves in the market, well in excess of EU solvency requirements. Our track record of successful investment returns is based on a long term view underpinned by solid reserving of investments. The result of our strong commercial management is that we have the best calls record of any P&I Club, with no unbudgeted calls for the last 40 years. By focussing on our core business without other distractions and risks, we are able to continue to run the Club purely for the benefit of its Members as we have done since 1855.