EuropeFinance and Insurance
Standard Club looks to take over Strike Club
The Standard P&I Club is looking at acquiring sister company Strike Club, a provider of delay insurance to shipowners.
The transaction is expected to take place on February 20 next year pending regulatory approval.
Both the Standard Club and the Strike Club are managed by companies within the Charles Taylor group.
“The Strike Club has suffered underwriting losses in some recent years, but the club has a strategy to restructure and improve underwriting, and this will be more easily achieved within The Standard Club,” Jeremy Grose, chief executive of Charles Taylor, wrote in a circular to members.