Global marine mutual insurer North P&I Club has elected James Alexander Tyrrell as the new chair of its board, succeeding Pratap Shirke, while Ioanna Procopiou has become the club’s first female vice-chair.
Tyrrell, a director of Arklow Shipping, takes up the role from February 4, having previously served as vice-chair of the North board. His appointment continues an unbroken tradition for the North chair to be appointed from a club Member.
The formal announcement follows full approval by the relevant U.K.regulatory agency.
Tyrrell’s election reinforces North’s commitment to a growth and diversification strategy.
“Our ability to help members trade with confidence continues to be reflected in their commitment to the club, and so we are delighted to announce a respected figure like james as our new chair,” says Paul Jennings, North’s Chief Executive. “Arklow’s long association with North and its reputation for excellence and innovation align closely with North’s core mission to build lasting relationships based on financial stability and continuous investments in people, systems and geographical reach.”
Procopiou, who succeeds Tyrrell as vice chair, is managing director of bulk carrier specialist Sea Traders S.A. – also a North Member. A board member of the Union of Greek Shipowners and the Cypriot Shipowners Association, she is also already a member of North’s board of directors.
“Both James and Ioanna are well-known for insightful investments and long-term thinking,” says Jennings. “With COVID-19 continuing as a threat to the global economy, 2021 is likely to be as challenging as last year for the shipping sector. However, North is more convinced than ever that our strategy to strengthen our capital base, reinforce our teams and diversify income streams with new products such as the ‘North Hull’ (H&M) cover will continue to attract tonnage to North as a service provider.”