NorthStandard expects improved financial results for the year ending 20 February 2026, despite a challenging global shipping environment.
Premium income is projected to exceed $930 million, up from $886 million the previous year. Investment returns rose to 9%, compared with 5.9% and 4.9% in the two preceding years.
Free reserves are forecast to surpass $900 million, up from $800 million in February 2025. The figure remains comfortably above S&P Global requirements for retaining ‘AAA’ capital status.
The Club maintained its poolable tonnage at 270 million GT following a renewal focused on rebalancing its global risk portfolio. Managing Director Paul Jennings thanked members for their continued loyalty, highlighting strong retention levels.
Chief Underwriting Officer Thya Kathiravel confirmed a projected combined ratio of 105% for 2025/26, a marked improvement on last year’s 113.8%.
Diversification played a central role in the stronger performance. Premiums from specialty lines have grown 40% since 2023 and consistently delivered a combined ratio of 90% or less.
During the year, the Club advanced several initiatives. The Coastal & Inland–Sunderland Marine Hull and P&I product gained traction. A renewables partnership with Norwegian Hull Club progressed, and a new Upstream Energy and Marine & Energy Liabilities team was recruited in autumn 2025.
Three years after its merger, NorthStandard said scale benefits are becoming more visible. The Club expanded offices, upgraded digital services and rolled out AI-driven tools and enhanced loss prevention services.
It also incentivised members to adopt ORCA AI’s situational awareness platform, attracting 170 vessels. In addition, 24 members joined the BetterSea digital fuel pooling marketplace, while 509 users signed up for a fuel performance analytics platform from VPS.
Looking ahead, Jennings said the Club will focus on stability, financial strength and innovation as it supports members through 2026 and beyond.
