Newcastle Upon Tyne – NorthStandard, one of the world’s leading marine insurers, has reaffirmed its commitment to the North East with a robust annual performance and a continued focus on supporting local communities through a range of impactful initiatives.
Headquartered on Newcastle’s Quayside, NorthStandard employs over 300 people locally and more than 500 globally across 13 countries, positioning it as one of the North East’s largest and most internationally connected employers. The company was recently recognised as one of the Top 20 businesses in the North East, as featured in the NET 250 listing.
Despite a year marked by global geopolitical instability and maritime challenges, NorthStandard reported steady growth. The company’s mutual tonnage rose to just under 270 million GT, with free reserves slightly decreasing from $803m in 2024 to $800 million but remained ahead of 2023’s US$686m. The solid performance benefited from a 5.9% return on investments, up from 4.9% in 2024. Earlier this month, S&P Global reaffirmed NorthStandard’s ‘A’ capital rating, with ‘AAA’ capital strength.
“No organisation is defined by its easier times, and challenges are what drives our club forward,” said Cesare d’Amico, Chair, NorthStandard. “NorthStandard was formed in response to shipping’s underlying uncertainties, and we have not allowed a turbulent year to blow us off course.”
The past year also saw a 10% rise in Offshore & Renewables premiums and the launch of new combined hull and liability cover for smaller vessels through Sunderland Marine and Coastal & Inland brands, reinforcing NorthStandard’s role as a key regional employer and economic contributor.
“Given the scale and variety of the challenges facing global shipping today, it is prudent to expect an upward trend in the long-term claims outlook,” commented Paul Jennings, Managing Director, NorthStandard. “NorthStandard continues to respond by investing in P&I excellence and its people, in scale and diversification, and in its digital service portfolio.”
NorthStandard’s commitment to the North East extends beyond business, with ongoing support for local projects that strengthen the region’s economy and environment.
Paul Jennings added: “Our steady growth in mutual tonnage and solid investment returns, is a testament to the resilience and dedication of our people—many of whom are based right here in the North East. This region is not just our headquarters; it’s the heart of our organisation. We remain deeply committed to supporting its communities, economy, and environment through meaningful initiatives that reflect our values. As we grow globally, we continue to invest locally, ensuring NorthStandard remains a source of pride and opportunity for the region.”
NorthStandard is proud to support a wide range of impactful community programmes through the NorthStandard Corporate Social Responsibility (CSR) Programme. These include long-standing partnerships with organisations such as Ocean Youth Trust North, which offers young people from deprived local areas the chance to learn life skills at sea while exploring opportunities in the maritime sector, and St Oswald’s Hospice, which provides essential bereavement services. We also contribute to initiatives like the Greggs Foundation Breakfast Clubs and other regional charity collaborations.
These efforts reflect our ongoing commitment to building a stronger, more resilient community. By investing in the people and region we call home, the NorthStandard Corporate Social Responsibility (CSR) Programme is helping to create lasting, positive change, strengthening the North East and beyond for the future of our colleagues and the communities we serve.
