Notices to Members
No.15 2024/25 - West P&I fully acquires Nordic Marine Insurance
Tom Bowsher
Group CEO
January 2025
Members are referred to Notice to Members No.1 2020/2021 where it was announced that that the Club was acquiring a significant stake in the marine insurance provider, Nordic Marine Insurance (Nordic).
The Managers are now pleased to announce the full acquisition of Nordic, with the Club acquiring 100% of Nordic subject to regulatory approval in Sweden.
Nordic offers a range of specialist marine products for ship owners and charterers which includes delay cover, primary loss of earnings, loss of hire, lien insurance and other niche products. Founded in 2012, they are located in Stockholm and Piraeus.
Although they will become a full member of the West Group, Nordic will continue to operate independently with its existing brand and team and there will be no change in the way in which business is conducted.
Nordic will also continue to manage West Hull on behalf of West, which covers loss or damage to a vessel’s hull and machinery (H&M), with no changes to how West Hull is structured or delivered.
Nordic’s own products complement the Club’s core services, and this acquisition will further enhance the range of specialist products that the Club can offer to Members as well as strengthening its presence in Scandinavia.
Nordic’s own products complement the Club’s core services, and this acquisition will further enhance the range of specialist products that the Club can offer to Members as well as strengthening its presence in Scandinavia.
Members with any questions regarding this acquisition are invited to contact the Managers.
For: West of England Insurance Services (Luxembourg) S.A.
(As Managers)
T Bowsher
Group CEO