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West P&I Club to buy stake in Nordic Marine Insurance

The West of England P&I Club has inked an agreement to acquire a significant stake in marine insurance provider Nordic Marine Insurance (NMI).

The agreement will see the West of England P&I Club acquire Alandia’s shareholding in NMI, with the new venture expected to formally launch later this year.

Founded in 2012 and based in Stockholm, NMI provides specialist marine products for owners and charterers which include fixed premium primary delay cover.

“This investment will significantly enhance the range of specialist products that we can offer to ship operators, as well as strengthening West’s presence in Scandinavia,” said Tom Bowsher, ceo of West Group.

Dan Lennhammer, managing director of NMI, commented: “We share a vision with West for providing ship operators with a broad range of high quality products that meet all of their insurance requirements as well as benefiting from West’s global service network.”

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