West of England P&I Club has signed an agreement to acquire a significant stake in Nordic Marine Insurance (NMI).
Based in Stockholm, NMI is a provider of specialist marine products for ship owners and charterers, including fixed premium primary delay cover.
The agreement, which is subject to regulatory approval in Sweden, will see West P&I acquire Alandia’s shareholding in the company. According to West P&I, Alandia will remain an important partner of NMI.
Tom Bowsher, West Group ceo commented: “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.”