June 25, 2020
June 25, 2020 | Media Releases
Zurich strengthens its Marine offering with NM Insurance announcement
SYDNEY, Australia – Zurich Australian Insurance Limited (‘Zurich’) today announced a new binder agreement with underwriting agency, NM Insurance Pty Ltd (‘NM’) to provide capacity for its portfolio of Boating and Recreational products across Australia and New Zealand starting on 17 July 2020.
For Zurich, this agreement is an important pillar in its go-to-market strategy and will focus on SME and Personal Lines Customers using NM’s extensive network and market strength.
The NM portfolio includes Pleasure Craft, Marine Trades Liability, Boating Industry Commercial Insurance, and Motorcycle and Caravan Insurance, bringing scale to Zurich’s offering in the Australia and New Zealand markets.
Sean Walker, Chief Underwriting Officer, General Insurance of Zurich Australia & New Zealand said, “We are excited to be working with NM in an agreement that enhances our Marine offering and allows us to enter new lines and products. We each have a strong track record in Marine and a complementary set of core strengths that will ensure success.”
Matthew O’Sullivan, Head of Motor and Marine for Zurich Australia & New Zealand said, “The NM product suite is directly aligned with Zurich’s global marine strategy, and this agreement provides our customers access to new and unique solutions for their risks. As one of the leading marine insurers, both locally and globally, we are delighted to share insights and experience with NM, a well-established market leader in this segment of the market.”
NM Insurance Group Chief Executive Officer, Lyndon Turner, said: “Zurich’s global strength, stability and commitment to the Australia and New Zealand markets will enable our broad range of products to continue to provide quality insurance solutions, while supporting the growth and strategic direction of the company now, and well into the future.”
Zurich Insurance Group (Zurich) is a leading multi-line insurer that serves its customers in global and local markets. With about 55,000 employees, it provides a wide range of property and casualty, and life insurance products and services in more than 215 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.
NM Insurance is a dynamic, professional, and responsive insurance organisation keen to provide opportunities to our business partners. We offer a complete full cycle experience from transactional, compliance, sales, marketing and claims lodgement to completion. Our business is built of ensuring individual opportunities to partners to enhance their strategic needs, including financial, and ensuring a customer experience that cannot be replicated. Backed by the strength of our staff, infrastructure, partnerships and management team, NM Insurance has you covered. NM Insurance is the name behind a number of leading insurance brand and corporate insurance partnerships including but not limited to Nautilus Marine Insurance (Australia and New Zealand), Australian Caravan Insurance, National Motorcycle Insurance and Proteus Marine Insurance (Australia and New Zealand).