Press release: The Standard Club launches new business model

The Standard Club announces the launch of its new business model as the separation from Charles Taylor is complete.

This new model will enable the club’s Board to manage day-to-day operations for the long-term benefit of its members and brokers by bringing its core management operations ‘in-house’. Charles Taylor will continue to provide a range of support services including the club’s technology infrastructure and services, investment management, internal audit and other support services. Charles Taylor Group companies will also be key providers to the club and its members for loss adjusting, medical assistance, marine technical and club correspondent services.

Jeremy Grose, Chief Executive Officer of The Standard Club said: “The Standard Club has enjoyed a successful partnership with Charles Taylor for many decades and this relationship has evolved with the club’s growth.

“Both parties have been rigorous in the transition to make sure members and brokers will notice no difference in their normal dealings with the club; and this new model will strengthen the club’s management of day-to-day operations to their long-term benefit. As you might expect, separating the club from Charles Taylor after 137 years of integration has been a very large and complex project.  An enormous amount of hard work and expertise has been applied by the two teams, and it is a great credit to them that the job has been done on time and on budget. At the same time, we have been able to maintain the high quality of service for which we are known and have continued to make great progress towards a more sustainable underwriting performance.

“We are excited about the future for the club and are confident that the new management model will fit the strategic and operational needs of the club in the decades to come. This is a great opportunity for the club and we look forward to this new chapter.”