North P&I Club Expands into Fixed Premium Market

Under the Sunderland Marine trading name, the fixed premium product has been developed specifically for shipowners and operators who want both insurance cost certainty and market-leading service, supported by an experienced team with an exceptional reputation in the market. All policies are secured by North, with certificates, blue cards and guarantees issued by North. Policyholders will benefit from North and Sunderland Marine’s comprehensive international network that’s available 24 hours a day, 365 days a year.

Thya Kathiravel, North and Sunderland Marine’s Chief Underwriting Officer, commented, “Diversification is a significant feature of North’s overall strategic direction. We have now developed a high quality fixed premium product and service proposition and are confident that our increasing profile in this sector will deliver meaningful financial benefits for our mutual membership.”

The new fixed premium product will be managed from North’s new London office at 5 Lloyd’s Avenue, by a recently appointed team which consists of:

• Brian Davies, Director (London)
• Gustavo Gomez, Business Claims Manager
• Sebastian Tjornelund, Business Development Manager

Brian Davies, Director (London), commented, “North and Sunderland Marine are already well known for our superior proposition and statement of quality within the fishing and aquaculture sectors, where we are the acknowledged market leader. In keeping with that tradition, this new Owners’ P&I product will offer S&P ‘A’ rated security, which will be fairly priced and coupled with the strength of service offered by North.”

Paul Jennings, Chief Executive of North P&I Club and Sunderland Marine, noted: “While we at North affirm our commitment to the International Group of P&I Clubs, we have recognised over time that Club cover is not suitable for all operators, especially of smaller tonnage. Our new fixed premium product meets an evident market need while not diminishing the virtues and benefits of the IG system that we support.”

ENDS

For further information contact: Kim Rogerson on +44 191 232 5221 / kim.rogerson@nepia.com or Nick Arthur on +44 1865 514214 / nick.arthur@blue-comms.com

North P&I Club

North P&I Club is a leading global marine insurer providing P&I, FD&D, war risks and ancillary insurance to over 200 million GT of owned and chartered tonnage. Through its guaranteed subsidiary Sunderland Marine, North is also a leading insurer of fishing vessels, small craft and aquaculture risks. The Standard and Poor’s ‘A’ rated Club is based in Newcastle upon Tyne, UK with regional offices and subsidiaries in China (Hong Kong and Shanghai), Greece, Ireland, Japan, Singapore, USA and Sunderland Marine offices worldwide. North is a leading member of the International Group of P&I Clubs (IG), with over 12% of the IG’s owned tonnage. The 13 IG clubs provide liability cover for approximately 90% of the world’s ocean-going tonnage and, as a member of the IG, North protects and promotes the interests of the international shipping industry. For further information, visit: www.nepia.com

Sunderland Marine

Sunderland Marine provides market-leading fixed premium insurance, with cover and wordings tailored to the needs of individual operators and backed by people with long and successful experience of providing unrivalled service to their customers. Sunderland Marine insurance products are underwritten by North P&I. For further information, visit: www.sunderlandmarine.com