NorthStandard reports stronger financial performance

NorthStandard reported stronger financial results for the 2025/26 insurance year while expanding services to support shipowners facing growing geopolitical and operational risks.

The marine insurer increased total premium income by 5.8% to US$938 million, compared with US$886 million in the previous year. Investment returns reached 9.5%, while free reserves rose by US$123 million to US$923 million.

NorthStandard also improved underwriting performance. The club’s combined ratio improved to 105.5% from 114%, supported by lower large claims and more normalized pool claims activity.

Three years after the merger of North P&I and The Standard Club, the company said it continues to expand geographically and strengthen specialty business lines while maintaining its member-focused approach.

Management highlighted geopolitical instability as one of the main challenges facing shipping.

“We’ve reevaluated the impact geopolitics make on the business — and reorientated the Club to deal with these complexities as the norm,” said Managing Director Jeremy Grose.

The insurer said ongoing disruptions in the Strait of Hormuz, sanctions risks and regional conflicts have increased demand for guidance and war risk support services.

NorthStandard also strengthened its sanctions capabilities through a dedicated specialist team and expanded partnerships supporting offshore renewables, digital safety tools and fuel efficiency initiatives.

The company said investments in technologies such as Orca AI and digital loss prevention platforms are helping improve vessel safety and operational performance. According to NorthStandard, ships using Orca AI recorded a 52% reduction in high-severity close encounters.

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