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North P&I continues diversification drive with global move

North P&I continues diversification drive with global move | Insurance Business UK

North P&I continues diversification drive with global move

North P&I Club has appointed Nick Wolfe (pictured) as deputy global director (underwriting), reflecting the firm’s diversification strategy.

Wolfe joins Simon Main and Steve Rebair as one of three deputy global directors (underwriting), a statement from the company said. They are responsible for delivering the group’s underwriting strategy and report to Thya Kathiravel, chief underwriting officer, North P&I.

“Our recent annual review showed North achieving premium income growth of US$60 million across our mutual and diversified business lines in 2020-21, which reached over US$400 million in total,” said Kathiravel.

“Year on year, premium increases were especially notable for Sunderland Marine Hull, P&I and Aquaculture lines and the newer, diversified Owners’ Fixed Premium P&I, as well as North Hull. We look forward to further progress under Nick’s assured guidance.”

Wolfe joined the company in March 2020 as director (underwriting) from Aon, where he was most recently head of shipping, based in Singapore. Earlier in his career, he was previously senior vice president for Marsh.

At North, Wolfe worked on diversifying the company’s lines, including overseeing the launch of North Hull in July 2020.

“Our transformation from monoline P&I Club to diversified global marine insurer continues and Nick’s new role will empower him to drive our diversification strategy forward, which includes our products offered under the Sunderland Marine brand, Owners’ Fixed Premium P&I and North Hull, ” said Paul Jennings, CEO of North P&I Club. “The strategy is already making a significant contribution to North’s robust financial position and Nick’s appointment signals our commitment to strengthening the teams that enable our members and clients to trade with confidence.”