The Service of the Commission for the Protection of Competition has received a notification of a concentration, according to Section 10 of the Control of Concentrations between Enterprises Law of 2014, concerning the merger of The North of England Protecting and Indemnity Association Limited, The North of England Mutual Insurance Association (Bermuda) Limited and The Standard Club Ltd.
North of England Protecting and Indemnity Association Limited is a duly registered company under the laws of England and Wales. It is a global insurance organization and is the parent company of the North Group. On a reciprocal basis, its main activity is the provision of P&I (Protection & Indemnity), FD&D (Freight, Demurrage and Defense) and war risk insurance services. In addition, it provides globally diversified products (hull, aquaculture) with mutual and fixed premiums.
North of England Mutual Insurance Association (Bermuda) Limited is a duly registered company under the laws of Bermuda and is active in providing reinsurance to the North Group entities, including The North of England Protecting and Indemnity Association Limited.
Standard Club Ltd, a duly registered company under the laws of Bermuda, is an authorized insurer and provides a wide range of flexible insurance coverage to third-party shipowners, managers and charterers, including those operating in the offshore oil, natural gas and renewable energy sources and is the parent company of the Standard Group. Standard Club Ltd is the parent company of the Group which operates globally and consists of subsidiaries that offer P&I services (mutual), P&I plus extensions in mutual coverage P&I (fixed premium), FD&D (mutual), war risk (mutual or fixed premium), Strike & Delay (mutual or fixed premium) and Kidnap & Ransom (fixed premium) while also offering reinsurance services within the Group and at the same time having reinsurance agreements with third party insurers.
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