Türk P&I Sigorta

What Türk P&I Sigorta does

Türk P&I Sigorta A.Ş. is a Turkish specialty marine insurance company founded on 31 December 2013 and licensed on 18 February 2014 by the Turkish Treasury to operate in the Water Vehicles Liability Insurance branch under Insurance Law no. 5684. The company underwrites Protection and Indemnity (P&I) and Hull insurance, with a portfolio of more than 15 specialized marine products covering vessel owners, ports, terminals, marinas, and ship repairers operating in Turkish waters.

The company is a private joint stock company (A.Ş.) headquartered in Ümraniye, Istanbul, with a 10-member Board of Directors that includes representation from the Türkiye Wealth Fund and the Ministry of Transportation and Infrastructure alongside A-Group and B-Group shareholders, signaling state-linked ownership. Distribution is conducted domestically through correspondents, intermediaries, and brokers, and the company has invested in institutional credibility through ISO 27001 information security certification and safety-training video content hosted on YouTube. Materials reference serving the Middle East and Africa region, though underwriting activity is anchored in the Turkish mandatory insurance market.

Revenue is generated through gross written premiums on marine liability and hull policies, with the regulatory mandate under Law no. 5684 providing a captive demand base. The firm operates with a headcount in the 11–50 range, reflecting a focused specialty insurer rather than a diversified national carrier, and is positioned as a domestic specialist in a narrow branch-licensed segment of the Turkish insurance market.

Name

Türk P&I Sigorta

Legal name

Türk P ve I Sigorta A.Ş.

Website

https://turkpandi.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

11–50 employees

Short description

Türk P&I Sigorta is a Turkish marine insurance company licensed in 2014, providing Protection and Indemnity (P&I) and Hull insurance for vessel owners, ports, terminals, marinas, and ship repairers under mandatory Turkish maritime law.

Ownership category

akta.pro rank

Product category

Marine Insurance

NAICS

Insurance Carriers and Related Activities (524)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Carriers, Nec (6399)

akta.pro primary industry

Protection & Indemnity (P&I) / Marine Liability Insurance (FSAJAHAH)

akta.pro secondary industries

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Yacht & Pleasure Craft Insurance (FSAJAHAI)

Keywords

• Marine insurance
• P&I insurance
• Hull insurance
• Shipowner insurance
• Maritime risk coverage

Headquarters

HQ city

Kadikoy

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Insurance Premiums: Türk P&I generates revenue through insurance premiums collected from marine liability and hull insurance policies. The company operates under Insurance Law no. 5684 and provides mandatory liability insurance for Turkish maritime interests.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Türk P&I Sigorta is a Turkey-based marine insurance company that underwrites Protection and Indemnity (P&I) insurance and Hull insurance for shipowners, vessel operators, and charterers. The offering comprises ten P&I product lines and five Hull product lines, complemented by specialized underwriting, claims handling, loss prevention, and surveys/technical services for the maritime industry. The company is licensed by Turkish authorities and structures its coverage around the operational and regulatory risks faced by commercial vessels.

Product overview

Türk P&I Sigorta is a Turkish maritime insurance company offering two main product lines: Protection and Indemnity (P&I) Insurances and Hull Insurances. The P&I portfolio includes 10 specialized liability products covering vessel owners, operators, and maritime facility operators including yachts, fishing vessels, dive boats, ports, terminals, and ship repairers. The Hull portfolio provides 5 physical damage insurance products covering vessels, yachts, increased value, war/strikes risks, and vessels under construction. The company also provides ancillary services including underwriting, loss prevention, claims handling, surveys, and technical services. Türk P&I was established in 2013 and licensed in 2014 to operate in Turkey's marine liability insurance sector.

Differentiator

Problem solved

Functional benefit

Products and services

• Protection and Indemnity (P&I) Insurance Indemnity insurance covering third-party liabilities of shipowners, operators, and charterers, including crew injury, pollution, cargo-related claims, and other maritime liabilities. The company offers ten P&I product lines targeted at Turkish commercial vessel owners and operators.
• Hull Insurance Insurance coverage for the vessel's hull and machinery against marine perils such as collision, grounding, fire, and other navigational risks. The company offers five Hull insurance product lines for commercial vessels.
• Underwriting Services Risk assessment and policy issuance for P&I and Hull insurance, carried out internally to evaluate vessel-specific and operator-specific exposures for shipowners, operators, and charterers.
• Claims Handling Services End-to-end claims management for P&I and Hull insurance policyholders, including notification, investigation, settlement, and recovery actions for maritime incidents.
• Loss Prevention Services Risk mitigation advisory and loss prevention support aimed at reducing the frequency and severity of maritime incidents for insured shipowners and operators.
• Surveys and Technical Services Technical surveys and inspection services supporting underwriting, claims, and loss prevention activities for vessels insured under the company's P&I and Hull policies.

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators1 record

Recent moves4 records

Expansion highlights4 records

Direct peers

• UK P&I Club (Shipowners' Club): One of the world's largest mutual P&I clubs, providing Protection & Indemnity, FD&D, and hull cover to shipowners globally, including Turkish-flagged vessels. Directly comparable as a competing P&I provider for the same target market.
• Standard Club (NorthStandard): P&I club formed by merger of North of England P&I and Standard Club, providing P&I and ancillary marine cover with active Turkish and Mediterranean membership. Comparable in product scope and customer base.
• American Steamship Owners P&I Club (American Club): US-based P&I club providing P&I and FD&D cover with growing international membership including Turkish operators. Directly competes for P&I renewal business.
• Steamship Mutual P&I Club: International P&I club providing P&I, FD&D, and related cover to shipowners worldwide, including a substantial Turkish book. Operates in the same product and customer category as Türk P&I.
• Britannia P&I Club: London-based P&I club offering Protection & Indemnity and related marine cover to shipowners globally. Directly overlaps in product offering (P&I, FD&D, hull) and target customers (shipowners including Turkish-flagged tonnage).
• Gard P&I (Assuranceforeningen Gard): Major Norwegian-based P&I and marine insurance club offering P&I, hull, and offshore cover with significant global correspondent presence. Competes directly for marine liability and hull business from Turkish ship owners.

Regional players

• Anadolu Sigorta: One of Turkey's largest general insurers, offering marine cargo and hull cover within a broader non-life portfolio. Regional player competing for domestic Turkish marine premiums, though not a pure-play P&I specialist.

Broad incumbents

• AXA XL Marine: Major international marine insurer offering hull, P&I, yacht, and marine liability cover globally. Broad incumbent with deep Turkish broker relationships and overlapping product set.
• Allianz Marine (Allianz Global Corporate & Specialty): Global marine insurance arm of Allianz, providing hull, P&I, marine liability, and offshore energy cover at scale. A broad incumbent competing for the same Turkish marine corporate accounts, though not specializing exclusively in P&I clubs.

Others

• Turkish P&I-style regional insurer / Milli Reasürans: Turkish national reinsurer providing reinsurance capacity to domestic insurers including marine carriers. Functions as an enabling/ecosystem participant rather than direct competitor, but central to capital flows into the Turkish marine insurance market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Turk_pandi
• YouTubeyoutube.com/channel/UCCumtyaCppaSO99aKigYP_g
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/in/t%C3%BCrk-pandi-680090150
• Instagraminstagram.com/turkpandi

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Türk P&I Sigorta