NorthStandard sees rise in premium earnings since merger

Its gross tonnage (GT) rose to 256 million as of 20 February.

NorthStandard saw its revenue surpass $825m for the fiscal year ending 20 February, versus a combined $796m since the merger a year ago.

The mutual poolable tonnage for NorthStandard increased to 256 million gross tonnage (GT) as of 20 February.

Additionally, specialty business lines, which contribute approximately 20% of the club's total premium income, also experienced growth during the year.

ALSO READ: NorthStandard expands S. Korea presence, boosts regional network

Jeremy Grose, managing director of NorthStandard, attributed the growth in tonnage and revenues to the addition of new and existing members following the merger.

He noted that this growth outweighed any effects from the rebalancing of tonnage from larger members, demonstrating the benefits of the combined talents and enhanced resilience of scale.

The year-end results are expected to include an underwriting surplus and a combined ratio of less than 100%, with a positive investment return contributing to the club's free reserves.

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