Conditions that have led observers to predict that further consolidation in the industry was likely.
Today, two well-known players—North P&I and Standard Club—said they had entered formal discussions for a proposed merger to create a new global marine insurer and one of the largest providers of mutual cover in the maritime industries. With 300 years of shared P&I heritage, the combined mutual insurer would provide cover for vessels equivalent to 400 million GT.
They say the merger would help the...
https://www.marinelog.com/legal-safety/shipping/major-pi-merger-in-the-works-for-new-marine-insurer/