Zurich Insurance will provide £41 million worth of capacity for specialist agricultural insurer, Rural Insurance, in a five-year deal that will see Zurich replace XL Catlin as Rural’s primary capacity provider.
The deal will provide back up reinsurance cover for Rural’s Farm, Farm Motor, Rural Business Motor, Livestock and Hailstorm products from 1st November 2017.
Commenting on the new partnership, David Cahoon, Underwriting and Technical Director at Rural Insurance, said; “we’re delighted to enter this long-term partnership with Zurich Insurance.
“This new arrangement brings Rural a partner with more than 30 years’ experience in farming, an international footprint and an underwriting appetite that will enable Rural to advance its ambitions for the ever-diversifying farming sector.
“I’d like to extend my thanks to the Zurich team for their effort in a smart and efficient on boarding process that bodes well for our future development.”
Conor Brennan, Head of Retail General Insurance at Zurich Insurance, added; “Our detailed industry knowledge combined with their robust customer relationships will allow us to work towards the common goal of mitigating and protecting against agricultural risk.
“Indeed, to further build lasting relationships in the farming industry is not only exciting but vital to our businesses and we look forward to the next five years of exploring new opportunities in the sector.”
The new deal does not change existing capacity arrangements for its Renewable Energy, Motor Breakdown, Agricultural Contractors Liability products.
