North Standard reaffirms commitment to the North East
North Standard, headquartered on Newcastle’s Quayside, employs over 300 people locally and more than 500 worldwide across 13 countries, making it one of the region’s largest and most internationally connected employers.
It was recently listed as one of the top 20 businesses in the North East in the NET 250 list.
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, and free reserves decreased slightly from $803 million in 2024 to $800 million, remaining ahead of 2023’s $686 million.
The solid performance was bolstered by a 5.9 per cent return on investments, up from 4.9 per cent in 2024.
Earlier this month, S&P Global reaffirmed NorthStandard’s ‘A’ capital rating, with ‘AAA’ capital strength.
Cesare d’Amico, chair of NorthStandard, said: “No organisation is defined by its easier times, and challenges are what drive our club forward.
“NorthStandard was formed in response to shipping’s underlying uncertainties, and we have not allowed a turbulent year to blow us off course.”
NorthStandard is not just focused on its business growth; the company is also committed to supporting local communities.
Through the NorthStandard corporate social responsibility (CSR) programme, it supports various community initiatives, including the Ocean Youth Trust North and St Oswald’s Hospice.
The company also plays a role in initiatives like the Greggs Foundation Breakfast Clubs and other regional charity collaborations.
These efforts are part of NorthStandard’s wider goal to invest in the region and its people.
Paul Jennings, managing director at NorthStandard, said: “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.”
Last year saw a 10 per cent rise in offshore and renewables premiums and the launch of new combined hull and liability cover for smaller vessels through the Sunderland Marine and Coastal and Inland brands.
This reinforces NorthStandard’s role as a key regional employer and economic contributor.
Looking to the future, Mr Jennings added: “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.
“NorthStandard continues to respond by investing in P&I excellence and its people, in scale and diversification, and in its digital service portfolio.”
The company’s ongoing commitment to the North East goes beyond business, with continued support for local projects that strengthen the region’s economy and environment.
These efforts reflect NorthStandard’s ongoing commitment to building a stronger, more resilient community, with lasting positive change for the North East and beyond.