HDI Global to focus on the mid-market with new initiative

HDI Global to focus on the mid-market with new initiative | Insurance Business Canada

Insurance News

HDI Global to focus on the mid-market with new initiative

It will serve clients with a turnover between €20 million and €500 million

Insurance News

By
Kenneth Araullo

HDI Global has announced its commitment to further expanding its services within the mid-market segment, aimed at companies with turnovers ranging from €20 million to €500 million.

The insurer, traditionally known for its relationships with large industrial clients, is enhancing its offerings to meet the specific needs of this segment through tailored underwriting and claims approaches in liability and property insurance, alongside other lines.

The company explains that it has developed a streamlined approach to product design, processes, and frameworks to better cater to the mid-market. This includes simplifying underwriting procedures, crafting dedicated products, and upholding a commitment to being “easy to deal with” for mid-market brokers.

HDI Global also notes that these enhancements are designed to provide both domestic and international solutions to this diverse group, which includes industries such as real estate, hospitality, manufacturing, scientific services, retail, and consumer goods.

Dr Mukadder Erdönmez, a member of the HDI Global SE Executive Board responsible for third-party liability, cyber insurance, and motor, detailed the company’s strategy for this new initiative.

“As our reputation for underwriting excellence and client centricity is built on the commitment to quick responses, reliable services, and worldwide compliance, our aiming for mid-market partnerships comes as a natural in times of accelerated transformation for many companies,” he explained.

This focus, HDI Global says, reflects a strategic strengthening of the firm’s existing services to mid-market clients, particularly in key regions such as Europe, Australia, Canada, and Mexico.

David Hullin (pictured above), who oversees the regions of Europe (excluding Germany), Americas, ASEAN, South Africa, and the Middle East on the HDI Global Executive Board, also emphasised the strategic alignment.

“We take pride in offering our current and potential future partners over 120 years of expertise in risk mitigation. Our approach is to offer Insurance made by Entrepreneurs – for Entrepreneurs: Paired with stable underwriting, local expertise on-site and long-term commitment in our partnerships, our clients profit from quality products and quick service solutions globally,” Hullin said.

“With the strategic focus and necessary internal processes firmly in place, our partners within the mid-market segment can focus on their core business and entrepreneurial opportunities instead of the risks that come along the way,” Hullin said.

The expansion for its mid-market services follows HDI Global’s strong figures in its 2023 results, with the insurer reporting an improvement in its combined ratio by 1.5 percentage points from the previous year, currently positioned at 91.5%.

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