North P&I enters blue-water H&M market with new product line, North Hull

North P&I has started a new product line, North Hull, which is designed for larger ocean-going vessels and will complement the H&M insurance already available from Sunderland Marine for fishing vessels and other small craft.

North said it expected the new line to be taken up by a number of Members, whilst it was also open to non-Members.

North has added 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). They will be based in North’s London office at 5 Lloyd’s Avenue.

North CUO Thya Kathiravel said that “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 also confirmed by two other appointments. Nick Wolfe has been appointed as an underwriting department Director. He joins from Aon, where he was the global broker’s Head of Shipping for Asia, based in Singapore.

Also, Andrew Hearne has been appointed as Director responsible for members, traders and charterers in the Europe region. Hearne has been at North since 2017.

North CEO Paul Jennings said that “the H&M market is undergoing a period of notable change, and we believe that now is the time for North to utilize its existing underwriting platform and enter the market. We have a clear vision for this project, underpinned by our sound underwriting principles which will ensure our success.”