Marine insurer The Standard Club Asia will cease writing insurance business from 20 February 2026 and enter run-off. It will also stop issuing any new or renewal policies from 9 December 2025, according to a press release from NorthStandard.
This follows the merger of the North of England Protecting and Indemnity Association and The Standard Club in February 2023, which created the single legal entity NorthStandard. All business previously underwritten by The Standard Club Asia will be renewed into NorthStandard Limited or one of its branches.
Policyholders with cover currently placed through The Standard Club Asia are advised to notify their vessel mortgagees that, from 20 February 2026, their insurance for the 2026/27 policy year will instead be provided by NorthStandard Limited.
The press release said that failure to inform lenders of the change in insurer could result in a breach of mortgage terms. The announcement added that NorthStandard Limited will issue new letters of undertaking, where required, once it receives confirmation of assignment from the mortgagee.