NorthStandard has expanded its partnership with Noord Nederlandsche P&I Club (NNPC), cementing a long-standing relationship between the two mutual insurers.
Under the new agreement, NorthStandard becomes NNPC’s exclusive reinsurer, supporting the Dutch insurer’s ambitions for growth and diversification. This includes providing enhanced products and services underpinned by NorthStandard’s expertise and resources.
The partnership, formalized during a signing ceremony in Newcastle, builds on a collaboration that began in 2008. It aims to deliver greater value to NNPC’s members and clients while bolstering its position in the Northern European coastal insurance market.
Jeremy Grose, Managing Director at NorthStandard, highlighted the mutual objectives underpinning the alliance, describing it as a strategic framework designed to enhance product offerings and strengthen market presence for both insurers.
Earlier this month, the marine insurer reported a return to a high claims environment, with multiple large claims exceeding $1 million affecting its financial results.
According to NorthStandard, this increase stems from a larger number and higher value of pool claims reported this year, including several claims specific to the club.
This renewed partnership underscores a shared commitment to resilience and innovation in an evolving insurance landscape.
