The London P&I Club announces CEO transition

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The London P&I Club has announced that Ian Gooch will be stepping down during the year from the role of Chief Executive Officer after 15 years as CEO and 21 years as a Director of A.Bilbrough & Co., the Company that manages The London P&I Club. Subject to regulatory approval, Ian Gooch will be succeeded by James Bean, from NorthStandard P&I Club.

A qualified Solicitor, James Bean (pictured) has worked within the marine insurance industry since 2005 and was appointed to the NorthStandard’s senior leadership team in February 2023. Prior to that he was the Group Managing Director at the Standard Club.

To ensure an orderly transition, Ian Gooch will continue as a member of the A Bilbrough & Co. team, providing support to James and the senior management team.

“Having served The London P&I Club and Bilbrough for over two decades, I am very proud of what our team has accomplished,” said Ian Gooch. “After such a tenure, following a strong renewals season and the Club’s positive trajectory, I feel the time is right to step aside. I am confident that the Club will continue its growth as an independent mutual marine insurance provider under James’ leadership and that he will bring new perspectives and opportunities to evolve. He is exceptionally experienced and brings a deep industry knowledge, a proven track-record of success and a shared appreciation of the values of the Club.”

“It is a real privilege to take this next step in my career and join The London P&I Club at an exciting time for the company,” said James Bean. “I look forward to working closely with the Club’s Board of Directors, Members’ Committee and Management group, as well as its Members and Assureds. On a personal level, I greatly valued all of my time at NorthStandard and the opportunities and experiences afforded to me over the past 19 years and I would like to thank everyone for their continued support.”

Chairman of the London P&I Club, John M Lyras, said :“I am delighted to welcome James to the Club. He has first-rate credentials with extensive industry experience, and he will have all the support he may need from the Board, Members’ Committee and our Membership for his new role. I am pleased to say that Ian will remain involved with us, supporting James and the team in continuing to deliver the highest standards of service for the Club and increasing our Membership, in line with our strategic goals.”

The London P&I Club is a leading provider of marine Protection and Indemnity (P&I), Freight, Demurrage and Defence (FD&D) and War Risks cover to an international membership of shipowners and charterers with a combined tonnage totalling 69m gt. It is also one of The International Group of P&I Club’s 12 member Clubs, which together provide marine mutual cover to approximately 90% of the world’s ocean-going tonnage.

The Club recently reported a strong outcome to the February 2024 P&I renewal and saw year on year growth in its mutual tonnage of 8.9%. These positive developments were in line with the Board’s targets and recent actions to improve the Club’s financial performance and come alongside a much-improved claims experience and positive investment return in the 2023/24 financial year, on which a full report will be issued in due course.

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