International specialty insurer and reinsurer Argo Group International Holdings, Ltd. has announced a new partnership with Marine Underwriters of America (MUA), enabling Argo Group U.S. to underwrite a suite of physical damage and liability solutions for recreational marine businesses.
The book of business will be reinsured by ArgoGlobal Syndicate 1200, and MUA will also offer admitted property coverage when underwritten as part of a package, it’s been revealed.
“I am very pleased to announce this agreement with MUA. This initiative allows us to bring new, previously inaccessible premium into Lloyd’s and has provided us with a template for greater penetration into an untapped market segment,” said Philip Thorpe-Apps, Practice Leader, Marine & Energy, Argo Group.
Mike Hartley, President of MUA, said; “We are excited about Argo Group’s commitment to MUA in providing quality ‘A’ rated paper, experienced claims, and a commitment to providing new products and services in the coming months and years ahead. I am certain that our clients will quickly see the benefit of this partnership.”
