Strength, Stability and Security
In February 1882 a group of ship owners based in Sunderland, England, formed a Mutual Insurance Company to insure against the risks of their trade. Would their vision have been to create an internationally renowned insurer which is now embarking on a second century of service and support to its policyholders?
The Company, Sunderland Marine
Mutual Insurance Co. Ltd , is now recognized as a world leader in the insurance of
commercial fishing vessels, small passenger craft, tugs, barges, and
harbor craft ,Charter and Passenger vessels and also the insurance
of aquaculture risks.
In recent years we have reaffirmed our commitment to mutuality, following the ethos of providing our Policyholders with a high level of service and protection, and first class security at an economic premium.
There are no outside shareholders and the Company is operated and managed solely for the benefit of its policy holders.
The
Board of Directors of the Company is mainly non-executive in
structure. The Directors are drawn from the industries which we
serve around the world and in which they have spent most of their
working lives. There is accordingly a wealth of experience upon
which to call. The Boards' prime function is the establishment of
company policy and the monitoring of financial performance.
Underwriting and claims staff are available 24 hours a day, seven days a week, throughout the year. The service provided to the Policyholders is based upon a sound understanding of the industries we are involved in, further enhanced by a global network of accredited intermediaries and correspondents. We are focused in our desire to ensure our clients resume their business operations as soon as possible in the event of an accident.
We are at the forefront of promoting safety at sea and a regular contributor and sponsor of training programs worldwide. Emphasizing the benefits of increased competency at sea, the Company also endeavors to assist the Policyholders in complying with all new codes of practice and regulations.
In an evolving
environment where both the maritime and marine insurance industries
are moving through considerable change it should be a comfort to our
policyholders that the
traditional approach to servicing their insurance needs will be
maintained.
Our loyal Membership have benefited considerably from the commitment
and stability of Sunderland Marine, which have now provided to
generations of vessel owners.
It is the Company's policy to maintain a strong financial position,
holding Free Reserves and maintaining solvency in excess of global
statutory minima, thus ensuring we retain considerable financial
resilience.
The Company is approved by many Regulatory Authorities, not only in
the
With offices in
