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Standard Club and North
Addressing the maritime challenges of today and tomorrow, together
Discussions between Standard Club and North started in the summer of 2021 and the Boards of both clubs approved the proposed merger on 11 March 2022. The clubs then entered into a framework agreement, setting out the various conditions that must be satisfied for the proposed merger to complete. This included obtaining the approval of the members of each club, as well as regulatory and merger control approvals.
On 27 May 2022, both Standard Club and North held special general meetings in Rome and Athens respectively at which members of both clubs voted resoundingly in favour of merging.
NorthStandard, subject to regulatory approval, will be a mutual marine insurance company committed to the highest levels of member service at the forefront of global marine insurance, acting as a powerful industry voice and upholding the values and benefits of the International Group system. The merger will also bring together some of the most respected expert teams in maritime risk management. The new organisation will be jointly led by Jeremy Grose, CEO at Standard Club and Paul Jennings, CEO at North.
This is the most significant event in the club’s history, and the respective teams are now working hard to secure all of the necessary financial, regulatory and merger control approvals, with a view to completing the formal corporate merger on 20 February 2023.
Both clubs’ businesses have a strong strategic fit; together we harness 300 years of shared P&I heritage, and our guiding principles of mutuality, encompassing service, security and strength will continue to apply to NorthStandard.