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Zurich and KGM Underwriting sign five-year deal worth over £700 million

Zurich and KGM Underwriting sign five-year deal worth over £700 million | Insurance Business UK

Zurich and KGM Underwriting sign five-year deal worth over £700 million

Zurich UK has today revealed a long-term partnership with KGM Underwriting, a specialist and niche motor insurer that is part of the A-Plan/Howden Group. The agreement, which secures Zurich’s solus capacity over a five-year term for KGM’s motor portfolio, is worth over £700 million GWP and will commence in January 2022.

Commenting on the new MGA capacity deal, Dave Martin, Zurich’s head of retail said the insurer is delighted to announce the partnership. He noted that the deal aligns with Zurich’s wider retail growth strategy by combining its financial strength, expertise and brand 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,” he continued, “which provides strategic diversification to our personal lines portfolio.”

Matt Puttick, CEO of KGM Underwriting also welcomed the partnership and said it is “great news for our brokers, customers and team”. He highlighted that the KGM team is looking forward to working alongside such a well-respected insurance brand and team, who share its ambitions

“Zurich has backed our expertise with a five-year partnership,” he said, “which provides KGM security of capacity that enables us to 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 also said the group is delighted to strengthen its strategic relationship with Zurich, which goes back to the earliest days of A-Plan. He thanked Zurich’s team for all their work in putting together this “new and exciting” capacity arrangement.

Commenting on the deal, Tim Bailey, Zurich UK CEO added: “This is a great result and strengthens our growing relationship with the A-Plan Group.”