What Spica Services Group does

Spica Services Group is a Singapore-headquartered professional services firm operating as the local P&I (Protection and Indemnity) correspondent for most Clubs within the International Group of P&I Clubs across multiple Southeast Asian jurisdictions. Incorporated as Spica Services (S) Pte Ltd, the company maintains a network of offices across seven Southeast Asian countries — Singapore (HQ), Indonesia, Malaysia (Port Klang/Kuala Lumpur, Kota Kinabalu, Penang), Vietnam, Thailand, and Myanmar — through wholly-owned subsidiaries and branch offices. Services span maritime claims handling, H&M (Hull and Machinery) provider representation, cargo claims, crew claims, casualty management, draft and pre-loading surveys, and oil pollution response, plus ad-hoc marine sector work beyond formal correspondent appointments.

The underlying service delivery rests entirely on human expertise rather than any disclosed proprietary technology platform. The team consists of former seafarers (Master Mariners, Chief Officers), maritime lawyers (including LLM-qualified specialists from Swansea and NUS), certified marine surveyors, and claims executives with deep local regulatory knowledge across each jurisdiction. Technical surveying capability is vertically integrated via Boyd Marine Consultants, whose Technical Director concurrently serves as Country Manager Indonesia.

The business model is B2B professional services revenue: Spica is formally appointed by P&I Clubs to act as their local correspondent, and is engaged directly by H&M providers, ship owners, and other maritime insurance stakeholders. Pricing is quote-based and engagement-specific with no publicly disclosed fee schedule. Revenue streams are diversified across the multiple IG P&I Club appointments, H&M representation contracts, and direct ship owner engagements. Go-to-market is field-based enterprise sales via direct relationships, supplemented by country-specific websites and loss prevention thought-leadership content. The company is privately held (no external investors disclosed) with 51-100 employees across the regional network and is positioned by management as a "preferred and recognized service provider" in Southeast Asia.

Name

Spica Services Group

Legal name

Spica Services (S) Pte Ltd

Website

https://spicaservices.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Spica Services Group is a Singapore-headquartered B2B professional services firm serving as the appointed local P&I correspondent for most International Group P&I Clubs across seven Southeast Asian countries, handling maritime insurance claims, surveys, and casualty management via a regional office network of former seafarers, maritime lawyers, and certified surveyors.

Ownership category

akta.pro rank

Product category

Marine Insurance Claims Services

NAICS

Marine Cargo Handling (488320), Navigational Services to Shipping (488330)

SIC

Fire, Marine & Casualty Insurance (6331), Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

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

akta.pro secondary industries

Marine Specialty (Hull/P&I/Cargo) (FSAJAGAJ), Marine Service Provider Coordination (Diving, Inspection, Class/Survey Support) (TLAHAJAI)

Keywords

• Marine insurance claims
• P&I correspondent services
• Maritime claims handling
• Hull and machinery surveying
• Casualty management services

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. P&I Correspondent Services: The company serves as the appointed local P&I correspondent for most Clubs in the International Group of P&I Clubs across multiple Southeast Asian countries. Revenue is generated through professional service fees for claims handling, survey attendance, casualty management, and related maritime insurance services. The company also handles ad hoc jobs within the marine sector beyond formal appointments.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Spica Services Group is a regional marine insurance claims services provider that acts as the appointed local P&I correspondent for most Clubs in the International Group of P&I Clubs across Southeast Asia. It handles maritime claims (cargo, crew, casualty, oil pollution), represents H&M (Hull & Machinery) providers, conducts marine surveying, and provides loss prevention updates, delivered through wholly-owned offices in Singapore, Indonesia, Malaysia, Vietnam, Thailand, and Myanmar.

Product overview

Spica Services Group is a regional marine insurance claims services provider operating as the local P&I (Protection & Indemnity) correspondent for most of the Clubs in the International Group of P&I Clubs across Southeast Asia. The company operates a network of offices in Singapore (HQ), Indonesia, Malaysia (Port Klang/Kuala Lumpur, Kota Kinabalu, and Penang), Vietnam, Thailand, and Myanmar. Services include maritime claims handling, H&M (Hull & Machinery) provider representation, cargo claims management, crew claims, casualty work, and draft surveying. The company also takes on ad hoc jobs within the marine sector and handles inter-regional attendance through its distributed office network.

Differentiator

Problem solved

Functional benefit

Products and services

• P&I Correspondent Services Formal appointed local correspondent service for Clubs in the International Group of P&I Clubs across multiple Southeast Asian countries, providing claims handling, survey attendance, casualty management, and regulatory navigation. Target customers: P&I Clubs requiring on-the-ground representation in Southeast Asian jurisdictions.
• H&M Provider Representation Representation and claims handling services for Hull & Machinery insurance providers, including marine surveying across the region. Target customers: H&M insurers requiring local correspondent and surveying capability in Southeast Asia.
• Maritime Claims Handling and Casualty Management Handling of cargo claims, crew claims, oil pollution incidents, collisions, groundings, fires, sinkings, and recovery claims, with on-site attendance at ports across Southeast Asia. Target customers: P&I Clubs, H&M providers, and ship owners.
• Marine Surveying and Consultancy (Boyd Marine Consultants) In-house marine surveying, technical consultancy, and risk management services for cargo, H&M, and P&I matters across Southeast Asia, led by a Master Class 1-certified Technical Director. Target customers: insurers, ship owners, and legal counsel requiring technical marine surveying and consultancy.
• Loss Prevention Updates and Regulatory Advisory Regulatory and risk updates for marine stakeholders covering topics such as vessel arrests in South Vietnam, COVID-19 crew change regulations, monsoon weather warnings, and Port State Control campaigns, distributed via the company website and through the Singapore Shipowners Association. Target customers: ship owners, P&I Clubs, and maritime operators.

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• International Group of P&I Clubs (member clubs)coreStrategic or Co-development PartnerSpica Services Group serves as the local P&I correspondent for most of the Clubs in the International Group of P&I Clubs across several Southeast Asian countries (Singapore, Indonesia, Malaysia, Vietnam, Thailand, Myanmar). This formal appointment is the core of the company's business model.
• H&M (Hull & Machinery) ProviderscoreStrategic or Co-development PartnerThe company represents several H&M (Hull & Machinery) providers in addition to P&I Club correspondency, handling marine surveying and claims for these insurance providers across the region.
• Boyd Marine ConsultantscoreTechnology or IntegrationCapt. Mohammed Bin Abdullah serves as Technical Director of Boyd Marine Consultants, the company's marine surveying and consultancy arm. This provides in-house technical surveying capabilities.
• Singapore Shipowners AssociationminorGTM or Marketing PartnerSpica publishes loss prevention updates and regulatory advisories (such as Port State Control campaign information) through the Singapore Shipowners Association network.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Gard (Assuranceforeningen Gard): Gard is one of the largest International Group P&I Clubs, headquartered in Norway with global correspondent networks. Comparable to Spica as a counterparty in the P&I correspondent ecosystem — both serve the same Club members via local representation, though Gard is the principal rather than a correspondent.
• Skuld (Assuranceforeningen Skuld): Skuld is an International Group P&I Club with global correspondent offices and a strong presence in Asia. Comparable to Spica as a counterparty for correspondent services and as a competitor for regional P&I representation in Singapore and broader Southeast Asia.
• West of England P&I Club: West of England is an International Group P&I Club with correspondent arrangements in Southeast Asia. Comparable to Spica as a principal-counterparty relationship, with both firms serving overlapping ship-owner clients across the same Asian port range.
• The Standard Club (Standard Club Asia): The Standard Club is an International Group P&I Club serving ship owners via a global correspondent network, including Asia. Directly relevant as a principal that appoints correspondents like Spica for regional claims handling.
• Steamship Mutual (UK P&I Club): Steamship Mutual is an International Group P&I Club with global correspondent arrangements. Spica acts as local correspondent for Steamship Mutual in multiple Southeast Asian jurisdictions, making the two firms operationally linked on the same P&I value chain.
• Britannia P&I Club: Britannia is an International Group P&I Club operating through regional correspondents globally, including Asia. Comparable to Spica as a Club that engages correspondent services for claims handling and casualty work in the same ports.
• Crawford & Company (Marine): Crawford is a major global claims management and loss adjusting firm with marine and cargo adjusting capabilities across Asia. Comparable to Spica as a marine claims services provider, though at significantly larger scale and with a broader non-marine portfolio.
• Lockton (Marine Insurance): Lockton is one of the world's largest independent insurance brokers with a global marine practice, including Asia. Comparable to Spica as a marine insurance intermediary — though Lockton works on the broker side while Spica works on the correspondent/claims handler side, both touch the same ship-owner and insurer relationships.

Direct peers

• Charles Taylor & Co. Charles Taylor is a major global P&I correspondent and insurance services provider, operating local correspondent offices worldwide. Directly comparable to Spica in serving as appointed local correspondent for International Group P&I Clubs and H&M providers, with overlapping service lines in marine claims handling, surveying, and loss prevention.
• Thomas Miller (P&I): Thomas Miller manages several International Group P&I Clubs and operates an extensive network of correspondents and claims handlers globally. Comparable to Spica as a marine insurance services firm handling P&I claims, with similar relationships with Clubs and ship owners.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/spica-service-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries4 records

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 Spica Services Group