Approval is given to merging North and Standard Club after separate member meetings resoundingly back plans to create a market-leading global marine insurer and one of the largest providers of mutual cover in the maritime industries. Both clubs held special general meetings on May 27th to approve the proposal to merge the two organisations into .
Consolidation has long been predicted in the mutual P&I sector, but the proposed merger of marine insurance majors North P&I and the Standard Club has still taken many by surprise. Both mutuals have laid out a timetable to combine forces, with members of each club scheduled to vote on the proposed merger at the end .
The merger of North and Standard P&I Clubs is aimed at providing a stronger, more stable business and platform for future, according to the CEOs of both clubs.