UK-based marine insurer NorthStandard begins operations with enhanced S&P ‘A' rating
NorthStandard, formed through the merger of the North of England P&I Association and the Standard Club of London, becomes one of the world’s top providers of mutual marine cover. With over 390 million gross tonnage of owned and chartered tonnage on its books, the new entity consolidates annual premiums of around US$800 million, employs over 700 people and brings together over 300 years of P&I heritage.