West P&I Club has acquired Nordic Marine Insurance

United Kingdom
23rd January 2025

West P&I Club has acquired Nordic Marine Insurance

The UK’s West P&I Club has acquired Nordic Marine Insurance, a leading provider of fixed premium insurance for the marine industry, holding 100% of Nordic, subject to regulatory approval.

The West of England P&I Club, based in London, is a leading insurance provider to the global maritime and offshore industries, enabling them to meet the continually evolving liability environment in which shipowners, operators, and charterers operate. West and Nordic see this agreement as an opportunity to develop and build new product lines and partnerships.

Tom Bowsher, Group Chief Executive Officer of West Group, said:

Nordic Marine Insurance Ltd (Nordisk Marinförsäkring AB), based in Sweden, is a provider of marine insurance products, specialising in Delay Insurance, Primary Loss of Earnings, Hull and Machinery (H&M), Loss of Hire, Maritime Lien solutions and other specialist insurance products, including under MGA contracts.

It has been approved as an insurance company by the Swedish FCA (Finansinspektionen) since October 2012.

Dan Lennhammer, Managing Director of Nordic, said:

West P&I initially acquired a significant stake in Nordic in 2020. The two organisations have worked closely together since then, with Nordic’s specialist products expanding the services West provides its members and the wider marine market.

As part of West Group, Nordic will continue to operate independently with its existing brand and team from its offices in Stockholm and Piraeus, enhanced by the full support of West’s expertise and capital strength. It will be business as usual for Nordic’s clients, who will benefit from greater opportunities to access West’s suite of products and network of offices globally.

Following this acquisition, Nordic will continue to manage the West’s Hull book, which covers loss or damage to a vessel’s H&M, as it further develops its P&I relationships and presence in Scandinavia. It will also help West to meet the anticipated need for specialist Delay Insurance from West’s Members and the broader market.

About West P&I Club About Nordic Marine Insurance

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