North P&I club celebrates 150th anniversary in India
The ‘A’ rated 125 million GT North P&I club celebrated its 150th anniversary in Mumbai, India (20 October 2010) with over 100 representatives of the Indian shipping community. It is one of a number of events the club is holding around the world to commemorate its formation in 1860.
The reception at the historic Taj Mahal Palace hotel was attended by North’s Indian shipowner members, brokers, lawyers, local officials and their guests. Joint managing director Paul Jennings and India and Middle East region director Savraj Mehta hosted the event supported by P&I claims manager Michael Asherson.
Sabyasachi Hajara, chairman and managing director of The Shipping Corporation of India (SCI) and president of the Indian National Shipowners’ Association, congratulated the club on behalf of Indian shipowners for achieving its 150 year milestone. ‘North is one of the top clubs, with excellent service and well positioned in the market,’ he said.
Hajara also confirmed Indian shipowners are fully committed to continued operation of the International Group of P&I Clubs, which he said plays a vital role in supporting Indian shipowners and enabling global trade.
North insures most of India’s major shipping companies. In addition to SCI, members include The Great Eastern Shipping Company, Mercator Lines, Varun Shipping, Shreyas Shipping, Tolani Shipping, Chowgule Steamships, Reliance Industries, Goodearth Maritime, Orient Express Lines plus Chellaram Shipping and ArcelorMittal.
The club began writing business in the country in the 1990s and developed its strong presence over the last decade. The Indian and Middle East region now accounts for 15% of North’s membership.
The club’s roots go back to the 1860 launch of the North of England Iron Steam Ship Protecting Association in Newcastle-upon-Tyne, UK. It was one of the world’s first mutuals providing personal injury and collision liability cover for steamships. In 1886 the club added cargo indemnity cover by merging with the local Steam Ship Owners’ Mutual, and – through a combination of organic growth and further mergers and acquisitions – went on to become one of the world’s leading international P&I insurers.
Today North provides P&I insurance to 95 million GT of owned tonnage and 30 million GT of chartered tonnage, with 4250 ships entered by 375 members. It is based in Newcastle-upon-Tyne, UK with regional offices in Hong Kong, Piraeus and Singapore.
Contact: Savraj Mehta or Paul Jennings +44 191 232 5221