Sunderland Marine Insurance Company have confirmed the sale of its Seattle branch completes the consolidation of its operations in North America.
Its new owner, former Seattle office underwriting manager Chris Elliot, will take the brokerage forward under the new name of ARES Insurance Managers. This management buy-out was agreed to take effect from 1 November 2016.
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.
“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,” said Alan Wilson, North’s joint managing director.
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.
Tom Rutter, Sunderland Marine chief executive officer, concluded: “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.”
