Zurich agrees £700m capacity deal with A-Plan's KGM
The deal means that Zurich will provide solus capacity to KGM for the next five years.
Zurich UK has announced a new long-term agreement with KGM Underwriting, a specialist and niche motor insurer and part of the A-Plan/Howden Group.
The partnership secures Zurich’s solus capacity, over a five-year term, for KGM’s motor portfolio. The five-year arrangement is worth over £700m GWP and will commence in January 2022.
Growth
Dave Martin, Zurich’s head of retail said: “We’re delighted to announce our new partnership with KGM. This deal aligns to our wider Retail growth strategy by combining the financial strength, expertise and brand of Zurich with the technical knowledge and distribution reach of a specialist underwriter and strategic broker partner.
“Our partnership with KGM leverages their long-established reputation and expertise in specialist sectors which provides strategic diversification to our Personal Lines portfolio.”
Relationship
Tim Bailey, Zurich UK CEO added: “This is a great result and strengthens our growing relationship with the A-Plan Group.”
Matt Puttick, CEO, KGM Underwriting said the deal meant KGM could ”continue to invest in the long-term capability of the business to deliver our sustainable growth plans.”
Carl Shuker, Group chief executive of A-Plan Group added: “We’re delighted to strengthen our strategic relationship with Zurich, which goes back to the earliest days of A-Plan, and would like to thank their team for all their work in helping put together this new and exciting capacity arrangement.”
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