Nationwide Mutual Insurance Company (Nationwide) has agreed a major joint venture with global insurer Generali. The two insurance giants have today announced the creation of N2G Worldwide Insurance Services, LLC (N2G), to offer seamless multinational commercial insurance solutions.
N2G will use the combined resources of both insurers to meet the needs of multinational organizations with US operations as well as US-based firms with complex multinational insurance needs. Nationwide will take on the US exposures and Generali (directly or through its partners) will take responsibility for the non-US exposures. All business to N2G comes though independent agents, brokers and wholesalers.
“We’re proud to join forces with a strong partner like Generali, combining our trusted customer-focused protection with their existing multinational footprint,” said Mark Berven, president & COO, Nationwide Property and Casualty. “This partnership between two insurance powerhouses will elevate the solutions we can offer to commercial members to help them protect their business across the globe with extraordinary care.”
The new firm, which will be based in New Jersey, will be led by Bill Skapof, who joined Generali in 2015 as head of GC&C US, executive vice president and chief underwriting officer. He brings over 30 years of P&C underwriting sales experience to the role and has developed highly successful product, distribution and sales strategies in support of global commercial markets.
“This partnership is part of our strategic plan 2021 to be a Life-Time Partner to our customers, offering them innovative and personalized solutions,” commented Marco Sesana (pictured), country manager Italy & CEO of Generali Italia and Global Business Lines Generali. “Today we’re proud to announce this joint venture that brings together Nationwide’s brand recognition and distribution with Generali Global Corporate & Commercial’s extensive global network and local knowledge in over 160 countries around the world. N2G will be fully equipped to offer a comprehensive and seamless multinational program to its customers.”
N2G is due to open for business in the second quarter of 2020.
