International specialty managing general agent Rokstone Underwriting has entered into a binder agreement with the Slovenia-based insurance carrier Zavarovalnica Triglav, with Howden Re serving as broker for the deal.
The deal will provide Rokstone with an additional €1 million line for facultative property worldwide. Rokstone is a member of the Aventum Group.
According to a release, this is Zavarovalnica Triglav’s first global property binder with any international MGA. Zavarovalnica Triglav is an operating holding company of the Triglav Group, with assets of just under €4 billion and is rated ‘A Excellent’ by both S&P Global and A.M. Best.
“We are delighted to secure a binder with Triglav – they are financially strong and to be chosen by them as their first global MGA to partner with, is a clear indication of their confidence in our team, our disciplined underwriting expertise and leading actuarial capabilities,” said Rokstone CEO James Potter. “We’re pleased to have secured this valuable additional capacity for our clients worldwide.”
Potter added that the deal helps further strengthen its long-term relationship with Howden, which has served as one of the company’s leading reinsurance broker partners.
“We’ve enjoyed a long and fruitful relationship with the team at Rokstone. One of the world’s largest MGAs, they have established a superb reputation for their talent and actuarial management,” said Howden Re divisional director Rob Winsley. “We’re delighted to have secured this landmark deal for them with Triglav – both are partners that we hope to develop and grow our relationship with further.”
Rokstone also revealed in a release that the binder agreement comes after parent company Aventum Group underwent a significant global restructure. As part of the restructuring, the group consolidated its existing specialist lines in Europe such as iSure and iFarm under one name – Rokstone Insurance Europe.