Norwegian Hull Club to open first London office

Company Profiles, Events, Marine Insurance, News, People and Places, Person Profiles — By on February 12, 2016 at 8:33 PM
Faz Peermohamed

Faz Peermohamed

12 February 2016, Bergen, Norway – The Norwegian Hull Club (NHC), one of the world’s largest pure marine insurers, is to ‘plug into London’ with the opening of its first office outside Norway.

The club’s board confirmed this week that it intends to open a branch office this year in the City of London’s EC3 district, close to the Lloyd’s market. Currently, the club operates from three locations in Norway while its Marine Benefits medical insurance business is based in the Philippines.

The new office is expected to be operational this year. At launch, the office will be staffed by a team of three, two of whom will be underwriters, although this headcount is expected to rise during the first year.

The club’s chief executive Faz Peermohamed said: “A London office presents considerable benefits for NHC. For some time, our major London-based brokers have told us they would be extremely supportive of the club having a presence here. It also makes much sense from our perspective as the bulk of our business is via the broker markets, and London has the greatest concentration of those brokers. Being in the Square Mile, allows us to strengthen our broker relationships and plug into the London market more effectively. Additionally, a London office offers the potential for growth, for developing new products and new business.”

Norwegian Hull Club ranks as one of the world’s largest pure marine underwriters and insures more than 10, 000 unique vessels and units. It already has offices in Bergen, Oslo and Kristiansand with its spin off Marine Benefits having a serviced office in Manila.

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