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Six years on – marine insurers complete integration

Six years on – marine insurers complete integration | Insurance Business

Six years on – marine insurers complete integration

The phrase goes that all good things come to those who wait – and for marine insurers North P&I Club and Sunderland Marine Insurance Company, they will certainly hope that proves to be the case.

The companies have sealed a formal transfer of business, some six years after the merger of interests between the companies back in 2014. The move cements Sunderland Marine’s specialist fishing and coastal vessels, as well as its owners’ fixed premium P&I and aquaculture business, within the North Group.

“We’re extremely proud to be a business headquartered in the North East of the UK that is also one of the leading marine insurers in the world,” said North chief executive Paul Jennings. “Clearly, issues related to COVID-19 continue to provide a focus for much of our day to day activities but this is a proud moment as we integrate the Sunderland Marine business in a year when North is insuring more tonnage than ever before.

“After 138 years, Sunderland Marine remains a powerful and respected brand in the market. In North’s 160th year, we can say that we also know all about the value of lasting maritime relationships.”

As part of the integration, Sunderland Marine’s brand identity has received a refresh with the launch of new digital resources and a website that gives easier access to its product areas. There is also a new smartphone app which captures Sunderland Marine contacts and correspondents and makes them viewable by download. Clients of Sunderland Marine can also take advantage of North’s GlobeView web tool, which offers information on maritime threats and incidents.

The firm will also today launch North Hull, a new Hull & Machinery product for commercial ships.