Geoff Parkinson News

Geoff Parkinson, chief executive officer of North P&I Club’s subsidiary Sunderland Marine, retired on 30 June 2015 following a period of ill health. Tom Rutter, head of the company’s aquaculture business, will continue as interim chief executive officer until a permanent appointment is made. Parkinson (60) led the international fishing vessels, small craft and aquaculture insurer for 19 years and played a major role in negotiating its acquisition by the 170 million GT ‘A’ rated North in February 2014. He joined Sunderland Marine in 1972 as a junior claims clerk, rising through claims manager and overseas development manager to board director in 1993. Three years later he was appointed chief executive officer following the retirement of Barry Gristwood.

North of England P&I Association (North) and Sunderland Marine Mutual Insurance Company Limited (SMMI) merged to form the North Group on Friday 28 February 2014 following approval by the Bank of England’s Prudential Regulatory Authority and other U.K. and overseas regulators. The merger between two of the longest-established and most successful international marine insurance businesses - both of which are based in north-east England - has created one of the largest global marine insurance operations, with a premium income of over $500 million, free reserves of $350 million and total assets of $1,500 million. North Group has been over two years in the making, starting with a strategic alliance between North and SMMI in January 2012.

The members of North of England P&I Association (North) and Sunderland Marine Mutual Insurance Company Limited (SMMI) have voted in favor of the clubs' recent proposals to merge. A target date of February 21, 2014 has been set for the merger, which will create one of the largest marine insurance operations. At their general meeting on 16 January 2014, North's members approved the terms of the merger framework agreement signed by the two north-east England based mutuals last month.