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Zurich's Navigators and General nets marine trade book

Zurich's Navigators and General nets marine trade book | Insurance Business

Zurich

Zurich-owned Navigators and General (N&G) is acquiring NMU’s ex-GJW (Groves, John and Westrup) commercial marine trade combined book three years after the business was transferred into NMU in 2017.

“This book which, prior to its integration into NMU, comprised what was previously GJW’s book of specialist marine trade combined business, will transfer to N&G at renewal and will be staggered across the year,” noted NMU chief executive David Perfect.

“As part of the arrangement, NMU marine trade underwriters will move across to N&G. Brokers can be assured that it’s very much business as usual for all other NMU product lines.”

Currently N&G predominantly provides insurance for pleasure craft up to £10 million, and is among the UK’s largest marine insurers. The swoop, financial details of which were not disclosed, will further expand the Brighton-based company’s marine trade combined business.

“We are delighted to announce the acquisition of NMU’s commercial marine trade combined book, which enhances our status as a leading insurer in the market,” said Paul Glasper, head of specialist retail at Zurich.

“The transaction delivers a book of business that is consistent with our risk appetite, and gives us a strong platform for driving future growth. In an ever-changing and uncertain market, this deal underlines our strength and stability, and long-term commitment to the marine sector.”