The members of North of England Club and Standard Club have backed the merger of the Clubs. Both clubs held special general meetings on May 27th to approve the proposal to merge the two organizations.
NorthStandard will function as a unified club in time for 20th February 2023, next year’s renewal date. The merger remains subject to the approval of all the appropriate regulatory authorities.
The merger will create one of the largest providers of mutual cover in the maritime industries, with consolidated annual premiums of around $750m, and will mean that marine insurer and IG Club Gard will have a rival of a not dissimilar size, although Gard as a whole will remain the largest Group business/mutual.
The new organization will be led jointly by Jeremy Grose, Standard Club CEO, and Paul Jennings, CEO at North.
Source Insurance Marine News, May 30th 2022