Aventum Group’s international insurance and reinsurance MGA, Rokstone, has entered into a strategic alliance with Allianz Commercial, which has committed a $25 million facility to Rokstone.
This collaboration is aimed at enhancing Rokstone’s North American Marine operations, and marks the company’s extension of its growing partnership with global insurer Allianz.
James Potter, Chief Executive Officer, Rokstone, commented, “With many considering this trio of Marine specialists the premier team in North America, we are thrilled to share the news of this latest Allianz-backed facility. Our special relationship with Allianz is further solidified by this collaboration and we fully expect to dominate the middle market Marine space in a few years’ time.”
The latest deal will provide Rokstone’s North American wholesale Marine Specialty business, led by Marine underwriter Mike Nukk, with long-term support from the carrier in the region with AA-rated capacity.
The development follows the recent recruitment by Rokstone of Mike Nukk who joined from AIG, Alex Berisha from Liberty, and Derek Vandermyde from Starr Insurance.
Rokstone currently underwrites over $1 billion in Gross Written Premiums in several specialty lines including Property, Power Generation, Marine, Aviation, Warranty, Credit & Surety Treaty, Agriculture, Construction & Engineering, A&H and Liability.
In the next five years, the company plans to grow the Marine portfolio in North America aggressively from a start-up to $100 million business with a focus on middle-market North American business.
Mike Nukk, Head of NA Marine at Rokstone, added, “Allianz is one of the best brand names in the industry and we are delighted that they want to support our team. Allianz has an excellent pedigree and is among the strongest paper in the market – for our clients it doesn’t get much better than that.”
Rich Soja, Head of Marine, North America for Allianz Commercial, commented, “We have been supporting Rokstone North America for several years now and respect their high-caliber talent and the way they do business. We are excited to expand our involvement with Rokstone to additional marine lines. Their advanced technology, wholesale focus and expert underwriting will provide distribution partners additional ways to access Allianz.”
