Allianz Commercial announces new collaboration with ProMarine
Allianz Commercial and ProMarine UW Ltd (ProMarine) have announced a new multi-product strategic underwriting and claims delegated authority agreement, with immediate effect.
ProMarine, a specialised Managing General Agent, and subsidiary of Canopy Specialty International Ltd, will underwrite and handle claims on behalf of Allianz Commercial, one of the largest marine insurers in the world.
The long-term collaboration targets the smaller commercial marine industry and vessel risks in the UK, Ireland and the continent of Europe. The agreement has a 10 million GBP capacity and covers multiple Marine and Liability products, including Marine Hull, Protection and Indemnity, General Liability and Employer’s Liability.
Commenting on the agreement, Tom Argentieri (pictured), Head of Hull for Allianz Commercial in the UK region, said: “We are delighted to have entered into this agreement with ProMarine. Both marine and liability are key strategic business lines for Allianz Commercial and this transaction demonstrates our continued commitment to providing market-leading solutions for customers in these dynamic areas of risk. This will further strengthen our diversified and sustainable book of business and consolidates our expertise with a wider customer base. The teams are very much looking forward to working with their ProMarine colleagues on this strategic collaboration.”
Lena Weaire, CEO of ProMarine, added: “ProMarine’s ability to offer both physical damage and liability products provides a winning seamless service to direct clients and producing brokers whilst at the same time offering insurers an exceptional level of non-cat diversity within their book. It is great to be working with Allianz Commercial, a company with a rich history as a market leader in the Marine and Liabilities market. It demonstrates our commitment to successful long-term partnerships in the market and our drive to deliver holistic solutions to customers.”
Authored by Allianz
