Dilbar superyacht: One of the world’s most expensive privately insured assets

Desk report: The superyacht Dilbar, owned by Russian billionaire Alisher Usmanov, is widely regarded as one of the most valuable privately insured tangible assets in the world. Valued at an estimated $600 million to $735 million, according to assessments by the US Department of the Treasury and maritime industry reports, the vessel represents one of the largest exposures in the global marine insurance market.

Built by German shipyard Lürssen and launched in 2016, Dilbar is a striking example of the scale and complexity involved in modern megayacht construction and insurance. At 156 meters (512 feet) in length and approximately 15,917 gross tons, the vessel ranks among the largest yachts ever built by volume. Its enormous size, advanced engineering systems and ultra-luxury design contribute to both its extraordinary construction cost and the substantial insurance coverage required to protect such an asset.

The yacht is known for its opulent amenities and high-end design. Among its most notable features is a 25-meter swimming pool, considered one of the largest installed on a private yacht, with a movable floor that can transform the space into a dance floor. Dilbar also includes two helicopter landing pads, extensive spa and wellness facilities, a submarine garage and lavish interiors designed by renowned designer Alberto Pinto. Powered by a sophisticated diesel-electric propulsion system, the vessel combines engineering scale with luxury living on an unprecedented level. It reportedly accommodates around 24 guests and a crew of nearly 100, highlighting the operational complexity involved in running such a megayacht.

Insuring a vessel of Dilbar’s scale requires specialised underwriting and substantial financial capacity. Coverage is typically arranged through marine insurance syndicates, often operating through Lloyd’s of London, where risk is distributed among multiple insurers and reinsurers. Policies for megayachts generally include hull and machinery coverage to protect against damage from collision, grounding, fire, or mechanical failure, as well as protection and indemnity insurance that addresses third-party liability claims arising from maritime operations.

Additional layers of coverage may include crew liability insurance, environmental liability protection related to potential fuel spills or pollution incidents and war risk coverage depending on the yacht’s navigational areas. Because of the vessel’s value and operational risks, the annual insurance premium for a megayacht like Dilbar can reach several million dollars, depending on factors such as cruising regions, security arrangements, crew experience and the owner’s risk profile.

Dilbar’s estimated valuation places it well above many other high-value insured luxury assets. The 1955 Mercedes-Benz 300 SLR Uhlenhaut Coupé, which sold for around $142 million in 2022, is considered one of the most valuable automobiles ever insured. Leonardo da Vinci’s Salvator Mundi, purchased for $450.3 million, is another example of an extremely valuable asset, although artworks of that scale are often partially self-insured or covered under specialised museum-style insurance arrangements.

By contrast, megayachts like Dilbar require comprehensive commercial marine insurance due to their constant movement, operational complexity and exposure to maritime risks around the world. As a result, the vessel is frequently cited within the marine insurance industry as one of the most expensive privately owned assets known to carry full commercial insurance coverage.

Dilbar ultimately represents the pinnacle of privately owned megayachts in terms of scale, luxury and insured value. For marine insurers and reinsurers, vessels of this magnitude highlight the growing financial exposure associated with the global superyacht fleet and the increasingly complex risks that accompany ultra-high-value maritime assets.