Acrisure Re, the reinsurance division of broker and fintech platform Acrisure, has announced that its facultative team has signed a preferred partnership broker agreement with Mahindra Insurance Brokers (MIBL) for Indian facultative business.
The agreement is effective immediately.
Headquartered in Mumbai, (MIBL) is a subsidiary of Mahindra & Mahindra Financial Services (Mahindra Finance), one of the leading non-banking finance companies in India.
Moreover, the preferred broking agreement follows Acrisure Re’s recent appointment of Duncan Ainsby to lead its new Asia facultative operation and highlights the growth of its global facultative proposition led by Ghassan Mansour, head of facultative.
The agreement will give MIBL access to the global reinsurance markets, significant broking capabilities spanning non-marine lines, as well as access to the full suite of Acrisure Re’s analytical tools and solutions.
Matthew Harvey, head of broking at Acrisure Re fac, commented: “India is an important and growing market with significant demand for facultative solutions. This agreement is further evidence of our commitment to expanding our footprint and capabilities partnering with a major player in the market.
“We are very proud to be working so closely with our friends at Mahindra Insurance Brokers and look forward to building on our success together.”
Commenting on the association, Vedanarayanan Seshadri, MD & principal officer of Mahindra Insurance Brokers said: “Acrisure Re’s extensive expertise, proven ability to provide complex structured facultative placements and their ability to access global markets will be of real value to us. We are very pleased to partner with the reinsurance arm of the world’s fastest growing independent broker and, on a personal basis, to formalise our long and productive working relationship.”