Sunderland sells Seattle branch
Sunderland Marine, the specialist in marine and aquaculture insurance, has confirmed the sale of its Seattle branch today (9 November 2016).
The sale confirms the final consolidation of its operations in North America and follows a management buy-out, which was agreed to take effect from 1 November 2016. The new owner, former Seattle office underwriting manager Chris Elliot, will take the brokerage forward under the new name of ARES Insurance Managers.
The sale is the final step in parent company North Group’s plans to drive operational efficiency and strengthen Sunderland Marine’s global operations following its acquisition in 2014.
According to Sunderland Marine's CEO, Tom Rutter: “Reorganising our branches in this way allows us to maintain important distribution networks, further simplify our business and maintain longstanding commercial relationships which extend over 25 years.”
Former Seattle office claims manager Mark McDermott will remain with Sunderland Marine to continue the high service levels currently provided to the North American market.
North’s joint managing director Alan Wilson noted: “We are confident that this reorganisation and restructuring of Sunderland Marine in North America will further streamline the business, reduce costs and improve overall efficiency.”
