NorthStandard has recorded an underwriting profit in its first set of financial results since it was formed through a merger in February.
The UK-based P&I mutual said its combined ratio, which reflects underwriting performance, for the year ending 20 February 2023 was a profitable 95%.
The underwriting figures were helped by a fall in its own retained claims and shared claims of more than $10m, which are handled through the International Group of P&I Clubs pool claims system.
