March 14, 2019
March 14, 2019 | Media Releases
Zurich announces tie-up to strengthen capacity in M&A insurance
SYDNEY, Australia – Zurich Australia Insurance Limited (“Zurich”) has today announced a new underwriting agency partnership that will boost its capacity in the mergers and acquisitions (M&A) insurance space.
The agreement will see Zurich delegate its underwriting authority to Fusion Specialty Insurance Pty Limited (“Fusion M&A”) to write Warranty and Indemnity insurance on its behalf. Fusion M&A is a subsidiary of POP Insurance Holdings (“POP”) and is focussed on supporting cross-border M&A transactions throughout the Asia-Pacific.
Sean Walker, Chief Underwriting Officer, Zurich Australia & New Zealand, said: “Our partnership with Fusion M&A is another tangible demonstration of how we are deploying our capacity to support brokers in Financial Lines. This is an exciting step for Zurich and our customers, and we are delighted to be helping bring another product to the market.”
Robin Cooper-Driver, Head of Financial Lines and Casualty, Zurich Australia & New Zealand, said: “Zurich is a leading player globally in the M&A insurance space and it is fantastic to be able to bring that experience to bear in supporting customers and brokers across the Asia Pacific. We look forward to working with Fusion M&A and backing their solutions in the market.”
David Rogers, POP and Fusion’s Co-founder and Executive Partner and Head of M&A, said: “Fusion is delighted to partner with such a highly reputable global insurer as Zurich, with access to additional capacity and its extensive network across APAC”.
Killian McDermott, POP and Fusion’s Co-founder and Executive Partner added: “This is another exciting milestone for Fusion. Our partnership with Zurich further enables us to lead local solutions for middle market M&A transactions throughout APAC.”
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 54,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 210 countries and territories. Zurich’s customers include individuals, small businesses, and mid-sized and large companies, as well as multinational corporations. The Group is headquartered in Zurich, Switzerland, where it was founded in 1872. The holding company, Zurich Insurance Group Ltd (ZURN), is listed on the SIX Swiss Exchange and has a level I American Depositary Receipt (ZURVY) program, which is traded over-the-counter on OTCQX. Further information about Zurich is available at www.zurich.com.
POP Insurance Holdings Pty Ltd. (POP) is developing a leading specialist insurance Group, delivering growth organically and through small cap acquisitions, focused initially on the Asia Pacific Region. POP’s current investments include FUSION Specialty Insurance Pty Ltd. (FUSION), a platform to support expert - specialty and specialist insurance sector - entrepreneurs, as well as leading re/insurers to build specialist insurance businesses throughout APAC.