Who we are and our history
The Swedish Club wrote its first Hull and Machinery policy on 13 December 1872. The first entered ship, the one-year-old steamship ‘Orvar Odd’, was insured for a large sum at that time – over 50,000 Swedish crowns.
Founded in 1872
By January of the following year, a total of 13 ships were covered for Hull and Machinery risks by The Swedish Club.
This success vindicated the decision by four local Masters to form a specialist mutual to cater for the new technology: steamships.
The shipping industry is constantly evolving, shaped by new technology, changing trade patterns and complex operations and high risks, from accidents and damage to legal challenges and environmental impact. For more than 150 years, The Swedish Club has evolved with it, providing insurance that covers these risks, along with expert advice to help prevent problems before they happen.
Founded in Gothenburg in 1872, we are a mutual marine insurer, owned by our members and guided by their needs. Our first policy covered a single steamship at a time when new technology was transforming shipping. That same willingness to understand change and respond to it has defined us ever since.
Today, we are a truly international organisation with strong Swedish roots. Like true Scandinavians, we value trust, long-term relationships and practical solutions. We are not the biggest club, instead we succeed by being responsive, smart and inventive, delivering insurance and loss prevention in a personal and dependable way.
A history shaped by change
The early success of The Swedish Club confirmed the vision of its founders: to create a specialist mutual insurer for a rapidly changing industry. By 1873, just one year after inception, 13 vessels were entered for Hull and Machinery cover.
As shipping evolved, so did we. By 1910, demand for Protection and Indemnity (P&I) insurance was growing rapidly in Sweden – where shipowners were required to have protection against personal injury, loss of life and collision liabilities.
Despite an earlier reluctance to offer P&I insurance, the attractively titled Sveriges Ångfartygs Assurans Förenings Delägares Ömsesidiga Försäkringsbolag ‘Protection and Indemnity’ was founded on 8 December. This proved to be one of the most important developments in the Club’s history, a milestone that later paved the way for the integrated insurance solutions we provide today. Over time, Hull and P&I were brought together, forming the foundation of the total service concept our members rely on.
Through challenge and opportunity
Global events have repeatedly tested the resilience of shipping, and of those who support it. During both World Wars, The Swedish Club continued to provide cover and assist members, adapting solutions to meet extraordinary circumstances. In the decades that followed, developments such as modern reinsurance programmes strengthened our ability to protect members in an increasingly complex risk environment
Becoming international
Global events have repeatedly tested the resilience of shipping, and of those who support it. During both World Wars, The Swedish Club continued to provide cover and assist members, adapting solutions to meet extraordinary circumstances. In the decades that followed, developments such as modern reinsurance programmes strengthened our ability to protect members in an increasingly complex risk environment
Looking ahead
Shipping continues to change, from digitalisation and cyber risk to new vessel types and emerging markets. We meet these developments with the same mindset that has guided us for generations: combining experience with innovation to find better ways to serve our members.
From introducing FD&D cover and expanding into Energy and Offshore, to offering Cyber Insurance and new products such as Small Craft insurance, we remain committed to staying relevant, flexible and solutions-driven.
The Swedish Club
Wherever the industry goes next, you will find The Swedish Club at the forefront, navigating change, supporting safer shipping and helping our members move forward with confidence.
Member of International Group P&I
The Swedish Club is a member of The International Group of P&I Club (IGP&I). The twelve P&I Clubs, which comprise the International Group, provide marine liability cover, protection, and indemnity for around 90% of the world’s ocean-going tonnage.
Watch the video about IGP&I
More from The Swedish Club
By January of the following year, a total of 13 ships were covered for Hull and Machinery risks by The Swedish Club.
This success vindicated the decision by four local Masters to form a specialist mutual to cater for the new technology: steamships.
The Swedish Club’s History at a Glance
150 years of Building Relationships
Producers: Sandbergfilm
Developing New Areas
By 1910, demand for Protection and Indemnity (P&I) insurance was growing rapidly in Sweden – where shipowners were required to have protection against personal injury, loss of life and collision liabilities.
Despite an earlier reluctance to offer P&I insurance, the attractively titled Sveriges Ångfartygs Assurans Förenings Delägares Ömsesidiga Försäkringsbolag ‘Protection & Indemnity’ was founded on 8 December. This proved to be one of the most important developments in the Club’s history.
Forty years later, the P&I Club amalgamated with the Hull Club in a first step towards creating the total service concept offered by the Club today.
Wartime
The outbreak of war in 1914 presented the Club with new challenges and opportunities. The Club continued to offer hull cover for members during the war and assisted members by arranging war cover.
The Second World War also passed without significantly disrupting the Club’s activities. The only significant change in the following years came in 1969, with the development of a new hull reinsurance programme – an excess quota share treaty placed mainly with Lloyd’s of London.
International Market
During the 1970s, Swedish shipowners, until then the mainstay of the Club’s success, sold vessels, preferring to charter-in tonnage. In response, the Club ventured into the international market. In early 1971 the “Flowergate”, owned by UK-based Turnbull Scott Ltd, became the first non-Swedish vessel to enter the Club for Hull and Machinery cover. This marked the start of a comprehensive internationalisation of the Club. Two overseas offices were opened in quick succession, the first in Piraeus (1980) and the second in Hong Kong (1982).
The Importance of Loss Prevention
Loss prevention, a priority for the Club since it pioneered pre-entry surveys back in 1872, was significantly enhanced in 1994, when the Bridge Resource Management scheme was launched by The Swedish Club and other founder members, including the Swedish and Norwegian Shipowners’ Associations.
New Areas
“With vessels becoming increasingly connected to shore through digital technologies, the threat of shipping being targeted by cybercriminals has heightened,” says Thomas Nordberg, Managing Director of The Swedish Club. “The financial, and possibly also environmental and human implications of a cyber attack are far-reaching. IMO together with IACS, have taken a leading role in addressing cyber risk management through unified requirements (UR) E26 and E27 that incorporate cyber resilience in Safety Management Systems.”
“To assist members, The Swedish Club has decided to offer all members with vessels insured for H&M and P&I with Cyber Insurance with effect from 1 January 2024.”
In January 2024 we introduced marine insurance for Small Craft in the Nordic Region.
In August 2022, we were delighted to open a new office in Singapore to serve the growing markets in Asia.
We established an office in London in 2015 to forge closer links with this important maritime centre.
In 2010 an office in Oslo was opened, focusing on Energy. The office has moved to larger premises to expand the business in Norway.
FD&D (Freight Demurrage & Defence) was introduced in 1984 to support members with in-house legal support and cost insurance.
Throughout the years, The Swedish Club has strived to be at the forefront of developments in the shipping industry. To be a successful company, it is essential to change with the times, and we work proactively every day to meet our members’ needs.
