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NORTH P&I ENTERS BLUE-WATER HULL AND MACHINERY INSURANCE MARKET

Tuesday, May 5, 2020 

A new offering from North P&I is designed for larger ocean-going vessels, which will complement the H&M insurance already available from Sunderland Marine for fishing vessels and other smaller craft.

North expects that the new line will be taken up by a number of its members, whilst it is also open to non-Members. The focus from an underwriting perspective will be on quality of risk and suitability of terms.

In support of the product, North has added significant underwriting expertise from within Lloyd’s to its H&M insurance teams with the appointment of James Sutton (Class Underwriter) and Alex Fuller (Senior Underwriting Executive). Both will be based in North’s London office at 5 Lloyd’s Avenue.

Thya Kathiravel, North’s Chief Underwriting Officer, said: “Diversification is a significant feature of North’s overall strategic direction. We are introducing a high-quality H&M product and service proposition developed in consultation with James and Alex. We are confident that this new venture will bring sizeable financial benefits for our mutual membership.”

North’s strategic ambitions for underwriting are further confirmed by two other appointments. Nick Wolfe has been appointed as an underwriting department Director. Wolfe joins North from Aon, where he was the global broker’s Head of Shipping for Asia, based in Singapore. In addition, Andrew Hearne has been appointed as Director responsible for members, traders and charterers in the Europe region. He joined North in 2017 from a London-based P&I insurer.

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