Mutual marine insurers merge
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The Strike Club and the Standard Club have announced plans for the Strike Club to join the Standard Club group, the London-based mutual marine insurers announced Friday.
According to a statement announcing the move, the Strike Club will continue as a member-controlled dedicated mutual delay insurer, operating as a class of the Standard Club. It will be supervised by the current Strike Club board, which will become a Strike committee of the Standard Club.
The Strike Club and the Standard Club are managed by companies within London-based insurance services firm Charles Taylor PLC.
“This transaction is a win-win for members of both clubs,” said Cesare D’Amico, chairman of the Standard Club, in the statement. “It extends our strategy of offering a wide range of insurance covers to our members and diversifying our sources of revenue. The Standard Club will also benefit from increased reserves from the Strike Club.”
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