EuropeFinance and Insurance

West of England buys into Stockholm insurer

The West of England P&I Club is buying a significant stake in specialist marine insurance provider Nordic Marine Insurance (NMI).

Founded in 2012 and based in Stockholm, NMI is a provider of specialist marine products for shipowners and charterers which includes fixed premium primary delay cover.

The agreement, which is subject to regulatory approval in Sweden, will see West Group acquire Alandia’s shareholding in Nordic Marine Insurance. The new venture is expected to formally launch later this year.

Tom Bowsher, West Group CEO, commented: “NMI is a highly regarded provider of marine products that perfectly complement our own core services. This investment will significantly enhance the range of specialist products that we can offer to ship operators, as well as strengthening West’s presence in Scandinavia. There is a strong synergy between the ambitions and values of our organisations and we look forward to working in close partnership with NMI for the benefit of our Members and others.”

Tony Karlström, Alandia CEO, commented: “The new partnership will help NMI grow its core delay business and will allow Alandia to focus on its core H&M business while still from that aspect remaining in continued cooperation with NMI. It is a solution that benefits all three parties”.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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