MGA secures deal with Allianz for new facility

Allianz Commercial and managing general agent (MGA) Rokstone have teamed up over a $10m (£8m) facility that will write marine cargo business worldwide.

The move expands Allianz’s wholesale marine distribution and allows Rokstone to write direct and reinsurance cargo business with full global binding authority from London.

Rob Birchard, marine portfolio manager at Rokstone said this meant it could “write direct European business with full binding authority for the first time, broadening our geographical distribution”.

“Rokstone has an enviable record that has resulted in long term collaborations with our carriers and a 100% retention rate,” he said.

“Brokers know that they will get access to the best capacity and a fast service from Rokstone.”

Relationship

The facility builds on Rokstone’s existing facility launched earlier this year with Allianz for its North American marine operations.

“We’re delighted to be extending our relationship with Allianz with this new facility,” Birchard said.

Phil Graham, head of marine at Allianz Commercial UK, added: “We are pleased to extend our agreement with Rokstone to additional marine lines and territories.

“It demonstrates Allianz Commercial’s commitment to specialty business and the strategic focus on marine for our business.

“Rokstone’s technology, expert underwriting and commitment to broker service will help us continue to expand the reach of our high-quality products and solutions for our clients worldwide.”