Under the agreement, ProMarine will be underwriting and handing claims on behalf of Allianz. The partnership will target the smaller commercial marine industry and vessel risks in the UK, Ireland, and the entire continent of Europe.
Tom Argentieri, Head of hull at Allianz Commercial UK, commented: “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,” said Argentieri.
“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,” he added.
The partnership has a £10 million capacity and will be covering various marine and liability products, which include marine hull, protection and indemnity, general liability and employer’s liability.
Lena Weaire, CEO Promarine said: “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,” added Weaire.
