Allianz Commercial backs MGA in £10m capacity deal

Allianz Commercial and managing general agent (MGA) ProMarine have signed a new multi-product strategic underwriting and claims delegated authority agreement.

The deal will see ProMarine, which is a subsidiary Canopy Specialty International, underwrite and handle claims on behalf of Allianz Commercial.

The long-term collaboration targets the smaller commercial marine industry and vessel risks in the UK, Ireland and Europe.

Tom Argentieri, head of hull for Allianz Commercial in the UK, 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.”

Capacity

The agreement has a £10m capacity and covers multiple marine and liability products.

This includes marine hull, protection and indemnity, general liability and employer’s liability.

Lena Weaire, chief executive of ProMarine, said: “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.”