The formal partnership confirms NorthStandard as NNPC’s exclusive reinsurer and supports NNPC’s growth and diversification ambitions through the ability to offer additional products and services secured by NorthStandard. The partnership will add value for NNPC’s existing and future members and clients by facilitating growth and at the same time reinforcing NNPC’s status in the Northern European coastal sector.

Signed by both parties at a ceremony in Newcastle on Wednesday, 27 November 2024, the partnership agreement continues, and builds on, a relationship between NorthStandard and NNPC dating back to 2008.

“Building on the success of our shared history and vision for the future we are pleased to formalise our partnership with NorthStandard, with full confidence that the relationship will help NNPC realise its long-term growth and diversification ambitions,” said Rob Beets, Chairman of the Board of Directors, Noord Nederlandsche P&I Club.

“We are delighted to formalise this new partnership with NNPC and build on a collaboration that began over 15 years ago,” said Jeremy Grose, Managing Director, NorthStandard. “We look forward to working with the NNPC team to achieve our shared long-term growth targets and securing a partner on the European continent.”

ENDS

About NorthStandard:

NorthStandard is one of the leading providers of global marine insurance products and services across the maritime industries. Established through the merger of North P&I Club and the Standard Club in February 2023, NorthStandard brings together over 300 years of marine insurance heritage. ‘A’ rated by S&P Global, NorthStandard has a premium income around US$800M and provides cover for over 390 million GT of owned and chartered tonnage.

From headquarters in the UK and with offices throughout Europe, Asia and the Americas, NorthStandard offers a unique blend of worldwide presence and class-leading expertise across multiple specialist areas, including P&I, FD&D, War Risks, Strike & Delay, Hull and Machinery and ancillary insurance. Its Sunderland Marine and Coastal & Inland divisions also provide H&M and P&I cover for smaller commercial vessels; fishing vessels, inland waterway and coastal trading vessels and aquaculture. NorthStandard’s comprehensive local market and sector knowledge is underpinned by continuous investments in market-leading digital technologies.

NorthStandard is a leading member of the International Group of P&I Clubs (IG) and is fully committed to upholding the shared objectives of its 12 independent member clubs, which provide liability cover for approximately 90% of the world’s ocean-going tonnage.

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About NNPC:

NNPC was founded in 1937 as a mutual insurance company by and for shipowners from Groningen, and has since evolved to offer a range of services to owners of seagoing vessels in the Netherlands, Belgium, Luxembourg, Germany and beyond and expanding into the inland market in the past decade. As a specialist in the European short sea market, particularly in the Benelux and Germany, NNPC has a unique history and membership.

The NNPC motto is “Worldwide. Always around.” This is the service we guarantee our members and clients, who can contact us day and night, anywhere in the world.

As an associate member of the International Group of P&I Clubs through its reinsurance with NorthStandard , NNPC is affiliated with the P&I clubs that insure more than 90% of the world’s tonnage. This gives us access to a worldwide network of the best correspondents, loss adjusters and lawyers, all experts within the maritime sector.

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