Chubb, Solution Underwriting announce partnership

Chubb, Solution Underwriting announce partnership | Insurance Business

Chubb, Solution Underwriting announce partnership
Solution Underwriting has announced a new partnership with Chubb, which will see the international firm provide capacity for the underwriter’s portfolio of products.

Under a binder agreement, Chubb will provide capacity for professional indemnity, general liability and management liability products offered by Solution, with this applying to new business and renewal transactions from April 01.

The Chubb deal replaces a previous agreement with Great Lakes Australia, which was divested by Munich Re last year.

“The stable capital platform that Chubb provides will enable Solution Underwriting to continue providing quality insurance products and exemplary service to the Australian broker market,” Rhys Mills, managing director of Solution Underwriting said of the partnership.

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Mills stressed that the financial strength of Chubb is “undeniable” as the international giant has five branches in Australia and is the world’s largest publically traded property and casualty insurer.

John French, Chubb country president for Australia and New Zealand, welcomed the deal and believes it will benefit the broker community.

“Chubb’s capacity combined with Solution’s outstanding customer service presents a terrific opportunity for Australian brokers to help Australian businesses manage their professional indemnity and liability exposures,” French said.

Prior to its agreement with Great Lakes Australia in late 2015, Solution had secured underwriting capacity through Calliden since its inception six years ago.

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