The Standard P&I Club and the North P&I Club have announced that they are finalizing the legal, transactional and operational elements for the proposed merger.

Latitude Brokers spoke to the Standard Asia today, and can share some further information.

The merger will be submitted to Members’ vote on 27th May 2022, after which the Clubs expect to complete the regulatory and competition approvals by October 2022.  Once those are in place, the Clubs will be able to collaborate on business and will approach 2023 renewal with a joined strategy.

The merger is expected to be completed by February 2023, and will be followed by the integration of operations of the Clubs. The new Club will be called North Standard and will de facto becomes the largest Club in terms of poolable tonnage and poolable premium. 

Watch Paul Jennings, CEO of the North and Jeremy Grose, CEO of the Standard explain the merger proposal here.