Our Quayside business has increased its annual income to over $930m
A global marine insurer, headquartered on Newcastle's Quayside, has increased its annual income to more than $930m despite a challenging year for the industry.
NorthStandard was formed in 2023 from the merger of North P&I Club and London based The Standard Club.
The organisation employs more than 300 people locally and in excess of 700 globally across 13 countries.
Metrics show that premium income is projected to rise to more than US$930m in the year to 20 February 2026.
This growth unfolds against continuing uncertainty across the global shipping sector, ranging from geopolitical tensions to the push for decarbonisation across the industry.
Paul Jennings, managing director of NorthStandard, said: "We are grateful for our Members' continued support and loyalty.
“Strong Member retention and commitment during renewal reflects the value and importance they place on the high levels of expert service NorthStandard teams deliver daily around the world."
Jeremy Grose, managing director of NorthStandard, added: "With our team's dedication and Members' trust, NorthStandard remains a resilient, forward-looking partner to the global maritime community."
Words: Alice Bird